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Valeo Security Systems Redeployment Plan: Blyth Plant

18 September 2000

Valeo Security Systems Redeployment Plan: Blyth Plant

    PARIS--Sept. 18, 2000--Valeo Security Systems, a part of the Valeo Group (Paris: FR; OTC: VLEEY), today announced a plan to transfer the activities of its Blyth plant to other existing Valeo plants and proceed with the gradual closure of the site.
    The Blyth plant, acquired by Valeo in 1989, currently employs 250 people involved in the production of vehicle door locks and handles for the automotive industry.
    In recent years many changes have been introduced in the plant to boost its competitiveness. Despite these efforts, it cannot be maintained in an increasingly competitive and technologically evolving environment.
    In accordance with the company's consultation process, a meeting of the Valeo European Works Council committee is to be held on Tuesday, 26 September 2000. Following this meeting, employees and their representatives in Blyth will be provided with further information.
    Valeo Security Systems is part of Valeo Group, a leading supplier of components, systems and modules to the automotive industry. The Group employs 75,000 people worldwide and operates in 25 countries. Its UK facilities are located in Gorseinon, Wales and in Halifax.
    For more information on the Group and its businesses, please consult our Web site: www.valeo.com