Valeo is a French global automotive supplier headquartered in

France France (), officially the French Republic ( ), is a country primarily located in Western Europe. It also comprises of Overseas France, overseas regions and territories in the Americas and the Atlantic Ocean, Atlantic, Pacific Ocean, Pac ...

, listed on the Paris Stock Exchange ( CAC-40 Index). It supplies a wide range of products to automakers and the aftermarket. The Group employs 113,600 people in 33 countries worldwide. It has 186 production plants, 59 R&D centers and 15 distribution platforms. Its strategy is focused on

innovation Innovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services. ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed enti ...

and development in high-growth potential regions and emerging countries. In 2018, Valeo's sales rose 4% to €19.1 billion. It also ranked as France's leading patent filer from 2016 to 2018.

History

The ''Société Anonyme Française de Ferodo'' was founded in 1923 in Saint-Ouen, near

Paris Paris () is the capital and most populous city of France, with an estimated population of 2,165,423 residents in 2019 in an area of more than 105 km² (41 sq mi), making it the 30th most densely populated city in the world in 2020. Si ...

. It first distributed brake linings and clutch facings under license of Ferodo Ltd UK. In 1932, the company began producing clutches. In the same year, it was listed on the

Paris Stock Exchange Euronext Paris is France's securities market, formerly known as the Paris Bourse, which merged with the Amsterdam, Lisbon, and Brussels exchanges in September 2000 to form Euronext NV. As of 2022, the 795 companies listed had a combined marke ...

. In the 1950s, the company expanded outside the Paris area, opening new factories in France. The firm produced braking systems (1961), thermal systems (1962), lighting systems and electrical systems (1971-1978 and 1984). The 1960s saw the start of the company's international development, first in

Europe Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a Continent#Subcontinents, subcontinent of Eurasia ...

, especially in

Spain , image_flag = Bandera de España.svg , image_coat = Escudo de España (mazonado).svg , national_motto = '' Plus ultra'' (Latin)(English: "Further Beyond") , national_anthem = (English: "Royal March") , ...

and

Italy Italy ( it, Italia ), officially the Italian Republic, ) or the Republic of Italy, is a country in Southern Europe. It is located in the middle of the Mediterranean Sea, and its territory largely coincides with the homonymous geographical ...

, and then all over the world:

Brazil Brazil ( pt, Brasil; ), officially the Federative Republic of Brazil (Portuguese: ), is the largest country in both South America and Latin America. At and with over 217 million people, Brazil is the world's fifth-largest country by area ...

(1974), the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country Continental United States, primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., ...

(1980),

Tunisia ) , image_map = Tunisia location (orthographic projection).svg , map_caption = Location of Tunisia in northern Africa , image_map2 = , capital = Tunis , largest_city = capital , ...

(1984),

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korea, Korean Peninsula and sharing a Korean Demilitarized Zone, land border with North Korea. Its western border is formed ...

and

Turkey Turkey ( tr, Türkiye ), officially the Republic of Türkiye ( tr, Türkiye Cumhuriyeti, links=no ), is a transcontinental country located mainly on the Anatolian Peninsula in Western Asia, with a small portion on the Balkan Peninsula ...

(1988),

Mexico Mexico (Spanish language, Spanish: México), officially the United Mexican States, is a List of sovereign states, country in the southern portion of North America. It is borders of Mexico, bordered to the north by the United States; to the so ...

(1989),

China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's List of countries and dependencies by population, most populous country, with a Population of China, population exceeding 1.4 billion, slig ...

(1994),

India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area, the List of countries and dependencies by population, second-most populous ...

(1997), Central and Eastern Europe (

Poland Poland, officially the Republic of Poland, is a country in Central Europe. It is divided into 16 administrative provinces called voivodeships, covering an area of . Poland has a population of over 38 million and is the fifth-most populou ...

and

Czech Republic The Czech Republic, or simply Czechia, is a landlocked country in Central Europe. Historically known as Bohemia, it is bordered by Austria to the south, Germany to the west, Poland to the northeast, and Slovakia to the southeast. The ...

in 1995,

Romania Romania ( ; ro, România ) is a country located at the crossroads of Central Europe, Central, Eastern Europe, Eastern, and Southeast Europe, Southeastern Europe. It borders Bulgaria to the south, Ukraine to the north, Hungary to the west, S ...

in 2002,

Slovakia Slovakia (; sk, Slovensko ), officially the Slovak Republic ( sk, Slovenská republika, links=no ), is a landlocked country in Central Europe. It is bordered by Poland to the north, Ukraine to the east, Hungary to the south, Austria to the ...

in 2004 and

Egypt Egypt ( ar, مصر , ), officially the Arab Republic of Egypt, is a List of transcontinental countries, transcontinental country spanning the North Africa, northeast corner of Africa and Western Asia, southwest corner of Asia via a land bridg ...

in 2005) to total 33 countries at the end 2018. In May 1980, the company was renamed Valeo, which means "I am well" in Latin. Acquisitions include German automotive suppliers Peiker and Spheros in 2015, followed by FTE automotive in 2017. In the early 2000s, Valeo produced parking assistance systems using ultrasonic sensors. In 2017, Valeo presented its low-voltage prototype electric vehicle at the

Consumer Electronics Show CES (; formerly an initialism for Consumer Electronics Show) is an annual trade show organized by the Consumer Technology Association (CTA). Held in January at the Las Vegas Convention Center in Winchester, Nevada, United States, the event t ...

Las Vegas Las Vegas (; Spanish for "The Meadows"), often known simply as Vegas, is the 25th-most populous city in the United States, the most populous city in the state of Nevada, and the county seat of Clark County. The city anchors the Las Veg ...

. In February 2021, Valeo announced that it will invest $5 million to open a new assembly plant in Jefferson County in the city of Bessemer, Alabama expected to create 70 jobs.

Strategy

Since 2009, CEO

Jacques Aschenbroich Jacques André Aschenbroich (born 3 June 1954) is the CEO of Valeo. He is married and is the father of three children. Education * Baccalauréat at the Lycée Ampère in Lyon * Preparatory classes for the "Grandes écoles" at the Lycée du Pa ...

's strategy has been based on:

linked to the reduction of CO₂ emissions and intuitive driving, and geographical expansion in high-growth potential countries, notably in

Asia Asia (, ) is one of the world's most notable geographical regions, which is either considered a continent in its own right or a subcontinent of Eurasia, which shares the continental landmass of Afro-Eurasia with Africa. Asia covers an are ...

and in emerging countries. From 2009 to 2018, the number of employees increased from 45,000 to 113,600. The Group’s sales rose from €7.5 billion to €19.1 billion. with a strong development in China. Valeo invests 11,8% of its sales in R&D and innovation. It has 17,900 research and development employees. In 2016 and 2017, the Group ranked as France’s leading patent filer.

Organization

The Group employs 113,601 people in 33 countries throughout the world. It has 184 production plants, 55 R&D centers and 15 distribution platforms.

Four Business Groups

Valeo is structured around four business units: # Comfort & Driving Assistance Systems (specialized in technologies to make driving safer, more intuitive, more autonomous and more connected) # Powertrain Systems (development of innovative solutions for reducing CO₂ emissions in terms of electrification, automated transmissions and clean engines for vehicles) # Thermal Systems (optimization of vehicle thermal management and passenger well-being) # Visibility Systems (development of technologies ensuring the best visibility and safety for drivers in all weather conditions) Its Valeo Service activity supplies original equipment spares to automakers and replacement parts to the independent aftermarket.

International Business

''Original equipment sales growth by destination region:'' * Europe and Africa: 46% of sales * Asia: 32% of sales * North America: 20% of sales * South America: 2% of sales

Financial statistics

;Sales (

million One million (1,000,000), or one thousand thousand, is the natural number following 999,999 and preceding 1,000,001. The word is derived from the early Italian ''millione'' (''milione'' in modern Italian), from ''mille'', "thousand", plus the a ...

s) ;Breakdown of sales by Business Group 2018 * Driving Assistance Systems: 19% * Powertrain Systems: 26% * Thermal Systems: 26% * Visibility Systems: 29% ;Operating margin (in % of sales):

Asbestos

Valeo, its directors and its corporate medical function have been indicted after a decade-long penal procedure in 2006 for homicide, unintentional injury, and failure to assist a person in danger regarding its former use of

asbestos Asbestos () is a naturally occurring fibrous silicate mineral. There are six types, all of which are composed of long and thin fibrous crystals, each fibre being composed of many microscopic "fibrils" that can be released into the atmosphere b ...

which caused the death of hundreds of employees over many years. Since, the Valeo Group has set up high health-security standards and has been thoroughly monitoring employees and retired personnel. This policy was ratified in a national agreement with the French government in April 2009. The group took a proactive approach to secure four former industrial sites with asbestos related issues.

References

External links

* {{Authority control Auto parts suppliers of France Manufacturing companies based in Paris Manufacturing companies established in 1923 Multinational companies headquartered in France French brands French companies established in 1923 Companies listed on Euronext Paris