Valeo Established in Romania to Equip Dacia's Economical Vehicle

PARIS, France, June 3 -- At the occasion of the launch of Dacia's X90, Valeo announces that it supplies this vehicle with eight of its product lines, of which the wiring, heating and air conditioning systems are manufactured in Romania on the Dacia production site.

Valeo took over the wiring business in Mioveni from Dacia in 2002 after the company was bought by Renault. The site brings local support and expertise to Dacia through its production and development capacities. At the end of 2003, onsite assembly of heating and air-conditioning units was introduced. Today Valeo employs 350 people in these two facilities.

"We are pleased to have helped Dacia with this project for an economical vehicle designed for this booming market. Valeo's aim, in supplying a large range of products and systems, including some that are produced locally, is to provide full support to the development of Dacia in Romania," said Thierry Morin, Valeo Chairman and CEO.

The Valeo lighting and vehicle access systems are produced under license in Romania. Valeo supplies radiators, condensers, top column modules, switches, alternators and clutches from its industrial sites in Europe.

Valeo's first operation in Eastern Europe was established in 1995 with the opening of a factory in the Czech Republic. Since then the Group has grown its presence in this region with sites in Romania, Poland, Czech Republic and Hungary. In this region Valeo now employs 5 650 people in 13 production facilities and one technical centre in the Czech Republic.

Valeo is an independent industrial group entirely focused on the design, manufacture, and sale of components, integrated systems and modules for cars and trucks. It is one of the world's leading automotive suppliers. The Group has 129 production sites, 65 R&D centers, 9 distribution centers, and employs around 68,700 people in 26 countries.