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Valeo: Plan to dispose of its fuel tank cap and filler activity in France

19 January 1999

Valeo: Plan to dispose of its fuel tank cap and filler activity in France

    --Jan. 19, 1999--Valeo has signed a letter of intent with a view to selling its Paul Journee subsidiary's fuel tank cap and filler activity to the US group Illinois Tool Works. The planned sale has been submitted to the Works Council.
    This activity achieved sales of the order of E13 million in 1998 and employs some 50 people.
    With this disposal, the Group has completed its withdrawal from the fuel tank cap-filler business which started with the sale in December 1998 of its fuel tank cap-filler activity in Italy that generated sales of the order of E6 million.
    Also in December 1998, the Group disposed of its display activity located in Germany, the sales of which were of the order of E56 million.
    These disposals are in line with Valeo's policy of divesting non-strategic activities.