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Valeo: Strong Growth in Sales +34%

13 April 1999

Valeo: Strong Growth in Sales +34%

    PARIS--April 12, 1999--Valeo's consolidated sales for the 1st quarter 1999 amounted to 1,902 million euros, up by 34.4% over the first three months of 1998.
    The Group has benefited from the net extension of its consolidated reporting entity and from growth in automotive markets in Europe and in North America, where it generates 64% and 31% of its sales respectively.
    Valeo's sales advanced by 15.5% in Europe, 149% in North America and 22% in Asia. In Brazil and in Argentina, sales, which account for 2.4% of overall Group sales, were down by 48% due to the impact of the economic crisis and the devaluation of the real.
    For Valeo, 1999 is marked in particular by the firmness of the North American and European markets and by the recovery of the South Korean market. In this globally favorable business climate, the Group has started to implement a major reorganization and productivity investment plan to exploit the synergies generated by recent acquisitions and rationalize its activities in Euroland.
    Valeo is fully focused on the design, manufacture and sale of components, integrated systems and modules for cars and trucks and ranks among the world's top 10 automotive suppliers. The Group, whose sales totaled 6.019 billion euros in 1998, has 114 plants, 29 R&D centers and 13 distribution centers in 20 countries worldwide.
    For more information on the Group and its businesses, please consult our Web site: http://www.valeo.com