Valeo Breaks Ground on First North American Electronics Manufacturing Facility
27 September 1999
Valeo Breaks Ground on First North American Electronics Manufacturing Facility
AUBURN HILLS, Mich., Sept. 24 -- The Valeo Group, a global
leader in the supply of components, systems and modules to the automotive
industry, broke ground today on a new 65,000-square-foot electronics
manufacturing facility in Fort Worth, Texas.
This highly automated electronics production site, to be completed next
spring, will be Valeo's first electronics manufacturing facility in
North America. Integrating the Group's expertise in surface-mount technology,
the facility's 170 employees will work jointly with Valeo engineering centers
in Auburn Hills, Mich. and Creteil, France, to develop and assemble electronic
systems. Located within the Alliance Advanced Technology Center in
Fort Worth, developed by Hillwood Corporation, the Valeo facility is slated to
begin production in late summer 2000.
"This site provides us with an electronics manufacturing infrastructure
well adapted to the continued growth of our business," explained Martin Haub,
Vice-President, Valeo Electronics.
Hillwood Chairman Ross Perot, Jr. added, "This site is a significant
addition for Alliance. Valeo is a global company whose innovative products
are found on cars and trucks by virtually every major vehicle manufacturer
worldwide."
During the groundbreaking ceremonies, Valeo presented its Reverse Sensing
System, available on 1999 Ford Windstars and Explorers. This ultra-sonic park
assist system offers drivers reliable, cost-effective, near-obstacle
detection. Valeo is the market leader in obstacle-detection systems.
In 1998, Valeo significantly increased its presence in the United States
with its acquisition of ITT Electrical Systems. Today, Valeo Electronics'
product range includes flat-integrated circuits for hands-free keyless entry
systems, electronic ballasts for HID lighting systems, electronic steering
column switches, body controllers, compact opto-electronic rain sensors for
auto-activated wiper systems and electronic modules for compact automatic
clutches.
Ranked among the world's top 10 automotive suppliers, Valeo employs
50,400 persons in 20 countries. The Group has 112 production facilities,
29 Research and Development and 10 distribution centers. Valeo's estimated
sales for 1999 will total $8.2 billion.
Alliance Advanced Technology Center is the signature project of Hillwood,
currently celebrating its 10th anniversary. More than 80 companies have
invested some $3.6 billion in Alliance, including American Airlines, AT&T,
Federal Express, J.C. Penney, John Deere, Nestle and Nokia.
For further information on Valeo and its businesses, please consult the
Group's website at http://www.valeo.com .
Contact: Kim Derderian, +33-1-40-55-20-34, or +33-6-16-01-50-26, or
kim.derderian@valeo.com, or Chandra Lewis, 248-340-8437, or
313-460-6690, or chandra.lewis@valeo.com, both of
The Valeo Group