Valeo expands global Research and Development network

Paris, France, August 7 -- Valeo today announced the further strengthening of its global Research & Development network with the establishment of a new Technical Centre in Prague, Czech Republic.

The new 1,400 square-metre facility will provide engineering support to Heating Ventilation and Air Conditioning (HVAC) and control panel programs led by Valeo's existing network of R&D Centres.

"To date, Valeo has invested almost one and a half million euros in the new Prague Technical Centre. This investment will further strengthen Valeo's engineering capabilities that are essential to support future customer programs for advanced HVAC, Control Panel and other systems," said Thierry Morin, Valeo Chairman & Chief Executive Officer.

The Prague Technical Center currently employs over 30 people. The qualified Valeo engineers and technicians are engaged in a range of new product development activities including Computer Aided Design, methods development, prototyping and laboratory testing.

Valeo anticipates that success in meeting development cost targets during the completion of customer programs for HVAC and control panel products will lead to further employment opportunities at the Prague Technical Centre over the next twelve months.

Valeo is an independent industrial Group fully focused on the design, production and sale of components, integrated systems and modules for cars and trucks. Valeo ranks among the world's top automotive suppliers. The Group has 130 plants, 54 R&D centres, 9 distribution centres and employs 69,000 people in 25 countries worldwide.

Media contact: Malene Pickles, Tel: +33 140 55 2074, Email: Malene.pickles@valeo.com