Valeo Sells its Stake in Il Tevere S.A. in Argentina

PARIS, August 3 -- Within the framework of its strategy of divesting non-core activities, Valeo announced today that it has sold its 50% shareholding in Il Tevere S.A. This holding company is the controlling shareholder (52%) of Mirgor, manufacturer of thermal systems (air conditioning and engine cooling modules) in Argentina. Mirgor generated sales of $70 million in 2004 and employs 320 people.

In the years to come, Mirgor will continue producing and delivering products under Valeo licence.

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, 68 R&D centers, 9 distribution centers and employs 72,100 people in 28 countries worldwide.

    
    Media Contact :
    Sophie Porte
    +33-1-40-55-37-68
    sophie.porte@valeo.com

Sophie Porte, +33-1-40-55-37-68, sophie.porte@valeo.com