Valeo to Build New Plant in Czech Republic

2 November 1999

Valeo to Build New Plant in Czech Republic

    PARIS--Nov. 2, 1999--Valeo today announced plans to build a new heat exchanger production plant in the Czech Republic. The plant will be located in Zebrak, 50 km west of Prague.
    Construction will begin in early 2000 and production is scheduled to start in the first quarter of 2001. The new plant will manufacture heat exchangers in line with Valeo's most advanced technological standards.
    Valeo will be investing 28 million euros in this project over four years. By 2004, the Group expects the plant to generate sales of 100 million euros, with a workforce of 360 people. The new plant will enable Valeo to satisfy European automakers' HVAC system requirements while further developing its activity in Central Europe.
    The Group is already present in the Czech Republic with a plant in Rakovnik, which employs 330 people and manufactures control panels and HVAC units for the Central and Western European markets. On October 8, the Group announced a major plan to invest in four new plants in Poland.
    Valeo is an independent industrial group fully focused on the design, manufacture and sale of components, systems and modules for cars and trucks. Present in the original equipment and aftermarket segments, Valeo is among the world's top 10 automotive suppliers with estimated 1999 sales of approximately 7.7 billion euros. The Group employs 50,400 persons worldwide and has 113 production facilities, 29 Research and Development centers and 10 distribution centers in 20 countries.