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Audi will launch a production car that uses Valeo’s electric supercharger next year. Other automakers are likely to follow as talks are now ongoing with several companies. This electric supercharger boosts an engine's acceleration while saving fuel. Valeo, which is based in France, didn’t name which Audi model this supercharger will be in but if reports are to be believed, it will be fitted on the Audi Q7 premium SUV.
Valeo's Chief Operating Officer Christophe Perillat-Piratoine said that the French company is talking to several automakers about this technology; however, he didn’t name these brands. Valeo's electric supercharger removes the lag time in the acceleration of cars that use turbocharged engines. Valeo’s system is different from that of a turbocharger, which runs off exhaust gases.
Valeo’s system provides the engine with an almost instantaneous air flow to increase acceleration via an electric motor. Fuel consumption is cut by 7-20%, Valeo claims.Read the entire article Audi uses Valeo’s electric supercharger on car set for release in 2016
If Valeo’s plans proceed without a hitch, it will be able to offer self-driving vehicle platforms to automakers before this decade ends. Valeo, an auto parts maker based in France, intends to utilize its partner Safran’s drone software and other military technologies.
Last Friday, Valeo was demonstrating autonomous car and other prototype systems that were jointly developed with Safran. Valeo revealed that the first applications may be available to its automaker buyers in the next three years.
The two French companies have a research and development deal forged in 2013. They’re in collaboration to build self-driving systems with final applications that range from hatchbacks to unmanned aircraft.Read the entire article Valeo, Safran work together to create self-driving vehicle platforms
Valeo logged a 6-percent climb in revenues in the first quarter of 2014 to EUR3.11 billion ($4.3 billion), thanks to higher demand in China and North America as well as to end of the auto sales crisis in Europe. CEO Jacques Aschenbroich said in a statement that company’s results demonstrate its capacity to “outpace the market” in all production regions and in all business groups.
Valeo is now concentrating on technology that improves safety and enhances comfort while reducing pollution. The French company in 2013 was able to achieve a target to improve earnings as a proportion of sales thanks to higher pace of growth in the second half of the year.
Valeo is expecting the European car maker to expand between 1 percent and 2 percent this year, as the region recovers from the recent slump. Valeo reiterated a goal to have its full-year 2014 sales grow faster than auto markets in its main regions.Read the entire article Valeo revenues in first quarter 2014 hike 6% to 3.11 billion euros
The French government will cut its holdings in Valeo as part of its bid to boost the country's struggling auto industry. According to Bpifrance Participations, it had commenced process of selling around 2 million shares -- equivalent to 2.5 percent of the Valeo capital -- through a private placement.
Bank of America, Merrill Lynch and Credit Agricole CIB are lead managers of the placement. Once the transaction materializes, Bpifrance would only have a 3.3-percent stake in Valeo. "I am grateful to Bpifrance Participations for having taken a stake in our capital at a key moment in Valeo's history, in the midst of the crisis in 2009," Valeo chief executive Jacques Aschenbroich said in a statement.
Using Valeo's market value of EUR8.04 billion ($11.15 billion) at the market close on March 11, 2014, the stake divestment would result to around EUR201 million ($278.72 million) in proceeds. Valeo’s shares have surged more than nine-fold since the end of 2008, as strong auto demand in North American helped the supplier ride offset a six-year slump in Europe.Read the entire article France to reduce stake in Valeo via private placement
Valeo posted a 16-percent surge in earnings before interest, taxes and other expenses in the second half of 2013 to EUR411 million ($563 million), thanks to higher demand for cars in China and North America as well as improvements in the European vehicle market. It exceeded the EUR375 million average of three analyst estimates surveyed by Bloomberg.
Valeo also logged a 3-percent rise in revenue EUR5.94 billion. Valeo is focusing on technology that promotes safety, comfort and pollution reduction to hike its profitability. The supplier was able to match a goal of a "slight increase" in 2013 earnings as a proportion of sales thanks to surging demand from German and Asian customers.
"Our strong cash generation and financial position will help us prepare for the expected sharp growth in sales, particularly in 2015 and 2016," chief executive Jacques Aschenbroich said in the statement. He expressed confidence that Valeo's strategy focused on innovation and on developing its businesses in fast-growing production regions will enable them to continue delivering margin growth that is in line with their medium-term financial objectives.Read the entire article Valeo hikes second-half earnings by 16% to EUR411 million
Valeo will purchase the stake it does not yet own in its lighting joint venture Valeo Sylvania from partner Osram for $104 million. The purchase price is around three times the Valeo Sylvania's earnings before interest, taxes, depreciation and amortization, Valeo said in a statement. "The takeover of Osram's shares in Valeo Sylvania represents a major step in Valeo's strategy to increase its position as a global leader in automotive lighting," Valeo chief executive Jacques Aschenbroich said.
The company expects the agreement to be completed by the end of January. IHS Automotive analyst Andrew Herzig remarked that the purchase will help “align Valeo's automotive lighting presence worldwide by adding North American sales to the rest of its lighting business worldwide."
Herzig, whose specialization lies in European component forecasts and analysis, estimates that Valeo Sylvania is already one of the top five suppliers of headlamps and tail lights in North America. HIS estimates that Valeo is one of the largest European auto lighting company along with Magneti Marelli and Hella.Read the entire article Valeo to acquire Osram’s stake in Valeo Sylvania JV
Valeo’s sales in the third quarter grew as demand increased in China and North America and the European auto market displayed signs of stabilizing. The French supplier said that sales climbed 2.2% to 2.91 billion euros ($3.98 billion) from 2.84 billion euros the previous year. The revenue during the last nine months totalled 9.07 billion euros, which is 2.6% higher compared to the past year.
Valeo has not changed its full-year target of a "slight increase" in operating margin as a proportion of revenue in 2013, "assuming stabilized market conditions in Europe." The auto market in Europe is meant to decrease for a sixth straight year after an 18-month recession in the euro region that concluded in the second quarter.
In a statement, CEO Jacques Aschenbroich said that the group posted “excellent figures” for the original equipment market as well as in the aftermarket. This also is indicative of its capacity for balanced growth. He added that these results are reflective of the gradual entry into production of the high order intake posted by the group in the past three years and the strength of Valeo's growth model.Read the entire article China helps Valeo increase its sales in the third quarter
French supplier Valeo posted EUR3.04 billion ($3.95 billion) in sales in the first quarter of 2013, compared to EUR3.03 billion in sales in the same period in 2012. The rise in Valeo’s first-quarter sales was primarily due to gains in China and North America that helped offset dismal results in Europe. The French supplier reiterated its full-year forecast of a 4-percent drop in automotive production in Europe and a 1-percent growth in global auto output, as well as steady prices of material prices.
Valeo also reaffirmed its 2013 targets that had its sales growing faster than production in its major markets. The supplier expects its 2013 operating margin to be "in line" with last year's level. Valeo is paying more focus to safety, comfort and environmental technologies to increase margins. Valeo chief executive Jacques Aschenbroich vowed in 2012 to double revenue from fuel-saving parts to EUR1 billion by 2013.
In March 2011, the supplier set a target of boosting annual revenue to EUR14 billion by 2015. Aschenbroich said in a statement that Valeo's performance in the first quarter proved the strength of the company’s strategy that is based on innovations and the expansion in Asia and emerging countries.Read the entire article Valeo logs slight hike in first quarter sales to EUR 3.04 billion
The profitability of French parts supplier Valeo in 2012 suffered an 11% decline even after it received record-high orders for its fuel-saving and safety technologies. Last Friday, Valeo revealed that it aims to sustain its profitability this year even though it’s likely to experience a 4% drop in European auto production, after net income decreased to 380 million euros ($502 million) in 2012.
In a statement, CEO Jacques Aschenbroich said that orders were driven by the growth of its business in Asia and emerging countries. He added that the company is “confident” in its capacity to attain a strong and profitable organic growth.
Last year, sales increased by 8.2% to 11.8 billion euros due to a record order intake of 15.8 billion. Valeo is not changing its medium-term target of surpassing a 7% operating margin. Its full-year operating profit increased by 3% to 725 million euros, to get to a 6.2% margin.Read the entire article Valeo suffers 11 percent decline in 2012 profits
Ford Motor Co. created a minority supplier scheme that involves V. Johnson Enterprises (an affiliate of former NBA star Vinnie Johnson's Piston Group), entering a joint venture with French supplier Valeo SA. Detroit Thermal Systems LLC is the name of this new entity. According to a report last week by Crain's Detroit Business (an Automotive News affiliate), Ford facilitated the deal to form the minority-owned supplier and to shift its ACH Sheldon Road plant climate control business in suburban Detroit to the newly formed joint venture.
DTS has leased a 365,000-square-foot plant located west of Detroit in Romulus, Mich., for the new business. The plant’s operations are meant to sustain the ACH business, or HVAC (heating, ventilation and air-conditioning) units for Ford vehicles, with a total of 30 injection-molding presses. The plant will start production in the third quarter of 2013 and can build 2 million units each year.
The equipment, assets and operations from the Sheldon Road plant will be moved to Detroit Thermal Systems' Romulus plant, which is set for completion by the end of 2014. Della DiPietro, ACH consultant and spokesperson, said that Ford will then find a way to sell the plant. DTS hopes that by 2015, it will have hired 500 workers at the Romulus plant. There are currently 750 ACH Sheldon Road workers. Many of which are UAW members. They will have to reapply for positions at the new DTS plant. DiPietro said that most of them will get job offers from either DTS or Ford.Read the entire article Ford creates minority supplier scheme that involves Valeo in Detroit area
The net income of French car parts maker Valeo in the first half of the year rose by 30% to 218 million euros ($316.7 million) as cost reductions along with higher sales outweighed an increase in raw material costs. From January to June 2011, sales had increased by 13% to 5.33 billion euros, boosted by original equipment demand.
Last week, Valeo said that U.S. antitrust authorities had informed the company to provide documents and information as part of an investigation by the Department of Justice.
Activist shareholder Pardus Capital Management, in a renewed effort, has been pressuring Valeo to revamp its strategy. Valeo reiterated its full-year outlook due to current market and commodity price conditions. Last May, Pardus urged Valeo to overhaul its strategy and stay cautious on acquisitions.Read the entire article Valeo says first-half net income surged 30 percent to 218 million euros
Valeo announced that it has made progress on boosting profitability, according to CEO Jacques Aschenbroich. This statement was made in response to pressure from Valeo’s activist shareholder Pardus Capital Management to overhaul its strategy to improve its valuation.
Aschenbroich told shareholders that even with higher raw material prices, he is confident that the company will reach its annual targets.
At the group's annual shareholder meeting last Wednesday, he said that while there has been “enormous progress on profitability” and it was able to double its share price after one year, “there is still a shortfall."Read the entire article Valeo confident on goals despite high raw material prices
France-based components manufacturer Valeo reported sales of 2.669 billion euros ($3.90 billion) for the first quarter of 2011, a 15.6 percent increase over the same period last year. The company’s automotive production worldwide remained high in all regions, except in Japan where the company experienced a drop of 29 percent.
Original equipment sales in the country, which has yet to fully recover from the March 11 disaster, fell 22 percent. The company remains confident that it could outperform the industry this year.
Moreover, the company is sticking to its target to widen its operating margin for this 2011 from the 6.4 percent in 2010, the year it returned to profit. In addition, the company remains positive that despite suffering from the troubles in Japan, its global automotive production will not be adversely affected until the end of May.Read the entire article Valeo says global automotive production will be affected by earthquake beyond May
Valeo S.A. established new targets for profitability and revenue as it believes that new technology and expansion in Asia would help it outpace automobile production growth in coming years.
The company said it would target revenue of around EUR14 billion ($19.4 billion) in 2015, an operating margin rate above 7 percent and return on capital employed (ROCE) above 30 percent.
Valeo sees sales outside Africa and Europe to account for over 50 percent of the total in 2015, compared with 40 percent in 2010.Read the entire article Valeo set out new targets for revenue and profitability due to Asian demand
Valeo S.A., the French automotive-industry supplier, said it has promoted long-serving executive, Christophe Perillat-Piratoine, as its new chief operating officer. Valeo said Perillat-Piratoine will take over from Luc Bleriot, who has been in this post since 2005 and is retiring.
Perillat-Piratoine would take up the position in March 1, 2011. Perillat-Piratoine began his career with the company, best known for its emissions reduction systems, in 2000 as a division general manager and has worked in a number of the company's branches.
Since 2009, he has headed the firm's comfort and driving assistance systems business group and he will be replaced in this role by Marc Vrecko, who is currently vice-president abrasives Europe, the statement said.Read the entire article Valeo taps Christophe Perillat-Piratoine as its new chief operating officer
Valeo SA, a French car parts supplier, says it would review its medium-term targets in March 2011 after a quicker-than-expected rebound in profitability. Valeo shares surged 3.7 percent to EUR44.84 at 10:20 CET. The Stoxx 600 European Autos Index increased 2.6 percent while the French CAC-40 index edged up 0.11 percent.
Suppliers and carmakers and suppliers are depending on brisk sales in Asia as European markets have slowed down when the scrappage schemes ended.
In March 2010, Valeo established a new strategic plan, saying it aimed for sales of EUR10 billion ($13.2 billion) by 2013 and return on capital invested of about 30 percent in the same time frame.Read the entire article Valeo to review its medium-term targets in March
After posting a 22% sales increase in the third quarter, French car parts maker Valeo raised its operating margin target for the entire year. Sales improved as the demand grew, particularly in Asia.
When the scrappage incentive schemes ended in Europe, carmakers and suppliers decided to increase their presence in the fast-growing regions including Asia and South America.
Last Thursday, Valeo said that it expects its second-half operating margin to be slightly higher than the 6.1% of sales it posted in the first half. Valeo said that full-year sales should surpass 9.4 billion euros, compared with the 7.5 billion it had last year.Read the entire article Valeo sees operating margin slightly higher in H2 than H1
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