Valeo: Plans To Close Heiligenhaus Site Announced
21 January 2000
Valeo: Plans To Close Heiligenhaus Site Announced
PARIS--Jan. 21, 2000--Valeo Security Systems today informed its employees of plans to close its Heiligenhaus site in the fourth quarter of 2000.The site manufactures mechanical door locks and steering column locks.
The Heiligenhaus site, acquired in 1996 from Ymos AG and currently employing 170 people, has been greatly restructured. However, despite an investment of nearly 7 million euros over the last three years, the site cannot now be maintained in an increasingly competitive and technologically evolving environment.
The site's management is currently initiating a procedure to inform and consult with employee representatives in order to implement a social plan which proposes job opportunities to the workforce on other Valeo sites in Germany or within the local region. Training Programs will also be implemented to help employees towards new jobs.
Production will gradually be transferred to other Branch facilities.
Following this operation, Valeo Security Systems will employ close to 300 people in Germany in its new Development Center located near Dusseldorf and in its Erdweg (Bavaria) plant specialized in the production of mechanical and electrical steering column locks.
Valeo is an independent industrial Group fully focused on the design, production and sale of components, integrated systems and modules for cars and trucks, and ranks among the world's top automotive suppliers. The Group has 116 plants, 36 R&D centers, 10 distribution centers and employs 51,700 people in 20 countries worldwide, including 5500 in Germany at 16 production sites and R&D centers.
For more information on the Group and its businesses, please consult our Web site: www.valeo.com