Valeo Acquires Connaught Electronics to Reinforce its Driving Assistance Domain

Paris (ots/PRNewswire) - Valeo announced today that it has
completed the acquisition of Connaught Electronics Ltd. (CEL), an
Irish producer of vehicle electronics. This acquisition strengthens
Valeo's Driving Assistance Domain through the extension of its line
of camera-based vision solutions for low-speed maneuvering.

Headquartered in Tuam near Galway in Ireland, CEL is a private
company which develops and produces automotive electronic components,
particularly camera applications for driving assistance functions and
radio frequency applications for remote vehicle access and security.
The company employs nearly 300 people at two facilities in Tuam,
Ireland and in Humpolec, Czech Republic.

With annual sales of 37 million euros in 2007, this new division
is expected to double its sales by 2010. In the past two years, CEL
won significant orders from two leading European car makers for
innovative camera-based solutions.

"This acquisition is fully in line with our strategy to strengthen
our product portfolio in our three Domains of Driving Assistance,
Powertrain Efficiency and Comfort Enhancement," said Thierry Morin,
Chairman & CEO of Valeo. "CEL's low-speed maneuvering solutions are
fully complementary to our extensive Driving Assistance Domain
product offering and we're confident this market segment has a great
potential."

Valeo is an independent industrial group dedicated to the design,
production and sale of components, integrated systems and modules for
cars and trucks. It is one of the world's leading automotive
suppliers. The Group has 133 production sites, 67 R&D centers, 9
distribution platforms, and employs 72,300 people in 29 countries.

For all additional information,
please contact:
Antoine Balas,
Corporate Communications,
Tel: +33-1-40-55-29-36
Rémy Dumoulin,
Investor Relations,
Tel: +33-1-40-55-29-30

ots Originaltext: Valeo Management Services
Im Internet recherchierbar: http://www.presseportal.de

Contact:
For all additional information, please contact: Antoine Balas,
Corporate Communications, Tel: +33-1-40-55-29-36; Rémy Dumoulin,
Investor Relations, Tel: +33-1-40-55-29-30


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