Valeo

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Valeo

logo
legal form SA
ISIN FR0013176526
founding 1923/1980
Seat Paris , FranceFranceFrance 
management Jacques Aschenbroich ( CEO )
Number of employees 114,700
sales EUR 19.2 billion (2019)
Branch Automotive supplier
Website www.valeo.com

Valeo is a listed French automotive supplier based in Paris that operates worldwide as an original equipment manufacturer to the automotive and commercial vehicle industries. Sales in the 2019 financial year amounted to 19.2 billion euros. The group employs 114,700 people worldwide in 33 countries at 191 production sites, 59 research and development centers and 15 sales bases. Since March 2009, Valeo has been headed by Jacques Aschenbroich as Chairman and CEO .

In 2016 and 2017, Valeo took first place in the list of French patent applicants according to INPI . In 2017, 1,110 patent applications were published. In 2012 and 2015, Valeo was selected as the “Top 100 Global Innovator” on the Thomson Reuters list. Valeo is a member of the European Association of Automotive Suppliers, CLEPA.

history

1923 - 1961: the beginning

Valeo emerged from the French joint stock company Ferodo (Société Anonyme Française du Ferodo, SAFF), which was founded in 1923 in Saint-Ouen ( Seine-Saint-Denis ) near Paris. Under Eugène Boisson, the company sold brake linings and clutch linings from the English company Ferodo (Ferodo UK), and later a production facility under license from Ferodo (UK) was established in Saint-Ouen . From 1932 Ferodo was traded on the Paris stock exchange and expanded its activities to the manufacture of clutches . Shortly before the Second World War, the company advertised holding 90% of all patents on the French market for couplings. During the war, in the 1944 Falaise Battle , the company's factories in Normandy were partially destroyed. During the liberation of Paris, the brake lining and clutch workshops in Saint-Ouen were also damaged.

In the 1950s the company was modernized and expanded with the construction of new factories, particularly in Normandy (friction linings) and Amiens (clutches).

1962 - 1979: Expansion in Europe

From the 1960s onwards, the company began to diversify and expand the business to include related product fields. It expanded in Europe and worked closely with French and Italian customers. In 1962 it was taken over by SOFICA (Société de Fabrication Industrielle de Chauffage et d'Aération), which had specialized in heating and air conditioning with a plant in Nogent-le-Rotrou (France) and thus expanded its business to include thermal systems for vehicles. International branches were established in Spain (1963) and Italy (1964).

In 1970 the company set up a research center (including a wind tunnel ) for thermal systems in La Verrière (near Paris) . In the course of the company's expansion in Europe, takeovers such as SEV Marchal (1970–1971) and later Paris-Rhône and Cibié (1977–1978) took place. These acquisitions enabled the company to expand its expertise in the field of electrical components ( spark plugs , alternators and starters , as well as  ignition , lighting and wiper systems ). In 1974 the company opened a business unit for thermal systems in Sao Paulo , Brazil.

1980–1999: New brand name and worldwide expansion

In order to bring all companies together under one brand name, the shareholders' meeting on May 28, 1980 decided to give the company the name Valeo ( Latin for: "I'm fine"). The name was adopted from the company's Italian subsidiary .

Since the early 1980s, Valeo has grown through regular company acquisitions. In 1980, the company opened its first thermal systems manufacturing facility in the United States . A plant in Mexico followed in 1982 . In 1984 the Ducellier group of companies, a manufacturer of generators , starters , headlights and ignition systems, took over and set up its first site in Tunisia to manufacture clutches. In 1987, Valeo fully concentrated on its core activities and began to sell off business areas that were not related to vehicle technology and thus no longer represented strategic business areas . The group acquired Neiman, thereby expanding its business area to include security systems for vehicles. In 1988, a further expansion of the security systems area was taken over by taking over Clausor, a Neiman licensed company in Spain, and the German company Tibbe KG, which then merged with the subsidiary of Neiman GmbH. In 1988 Valeo opened its first locations in South Korea and Turkey .

The research and development area was expanded. In 1992, an R&D center for electronics was opened in Créteil (near Paris), while another R&D center for lighting was opened in Bobigny (near Paris). Further locations in China (1994), Poland , the Czech Republic (1995) and India (1997) followed. In 1995 Valeo signed an agreement with Siemens AG to merge their joint activities in the area of ​​heating / air conditioning systems, and a new company, Valeo Climatisation, was founded, which subsequently took over the German company Thermal. In 1996 Valeo took over the locking systems division from the German Ymos AG, which specialized in vehicle locking and anti-theft products. In 1998 the company took over the electrical systems division of ITT Industries and the automotive division of Labinal. These acquisitions made Valeo one of the world's leading providers of electronic systems in the automotive industry. In 1999, the German automotive supplier SWF was taken over.

2000 until today

In the 2000s, the company's strategy was based on two main growth areas : reducing CO₂ emissions by developing innovative technologies, and investing in Asia and other high-growth countries. In 2004 Valeo opened its first R&D center in China ( Wuhan ) dedicated to vehicle lighting. In January 2005, Valeo took over the engine electronics division of the American automotive supplier Johnson Controls , which enabled the company to strengthen its efficient operations in the field of powertrain systems for clean and economical vehicles. In 2011, the company acquired the Japanese automotive supplier Niles, thereby further expanding its automotive interior business .

Activities in Germany

In 2013, Eltek Electric Vehicles, based in Frankfurt, took over. In 2016, the company peiker , a provider of communication in vehicles, based in Friedrichsdorf (Hesse), and Spheros , a provider of heating and air conditioning systems in the truck and bus sector, based in Gilching, Bavaria, took over . In 2017, gestigon , a startup company that offers software solutions for gesture recognition and control, based in Lübeck , is taken over.

Mov'InBlue was launched by Valeo in 2017 together with Capgemini and provides mobility solutions for the use of in-car delivery and car sharing services as well as for company fleets and car rentals. The seat is in Berlin , Kreuzberg. In 2017, Valeo completed the acquisition of FTE Automotive , a German company specializing in the manufacture of transmissions , for € 819 million.

organization

Company structure

The group (in four main business areas English business groups ) classified and twelve product groups:

  • Comfort and Driving Assistance Systems (English Comfort and Driving Assistance Systems , abbr . CDA)
    • Driving assistance systems (English Driving Assistance Systems )
    • Interior controllers (English Interior Controls )
    • Connected Car (English Connected Car )
  • Drive systems (English Powertrain Systems , abbreviation PTS)
    • Electrification (English Electrical Systems )
    • Transmission Automation (English Transmission Systems )
    • Clean engine (English Clean Engine )
  • Thermal Systems (English Thermal Systems , abbreviation THS)
    • Air Systems (English Climate Control )
    • Thermal systems of the drive (English Powertrain Thermal Systems )
    • Compressors for air conditioning (English Climate Control Compressors )
    • Front modules (English Front-End Modules )
  • Vision systems (English Visibility system , abbr. VIS)
    • Wiper Systems (English Wiper system )
    • Lighting systems (English Lighting Systems )

Valeo is also active in the spare parts market: Valeo Service supplies parts and accessories for authorized vehicle dealers, independent workshops and spare parts dealers in over 100 countries. One of the research and development priorities of Valeo's innovation activities is the safety of the driver and his environment as well as the reduction of CO2 emissions and the electrification of vehicles.

Managing directors

In the company's history, the following people have presided over the management:

  • 1923: Eugene Buisson, founder
  • 1928–1952: Jacques Vandier
  • 1987-2000: Noel-Goutard
  • 2000-2001: André Navarri
  • 2001-2009: Thierry Morin
  • since 2009: Jacques Aschenbroich

Branch offices in Germany

In Germany, Valeo has around 9,500 employees at 28 locations and 8 R&D centers in the following cities.

joint venture

In 2016 Siemens and Valeo set up the "Valeo Siemens eAutomotive" joint venture. The aim is to use joint synergy effects to offer high-voltage components and systems for electric vehicles . Siemens and Valeo each hold half of the shares. The head office is in Erlangen .

Stock market information

Valeo is listed on the Paris Stock Exchange and is represented in the CAC Next 20 ( ISIN code: FR0000130338); the shares are widely diversified.

Others

The company used to be heavily involved in the production of asbestos-containing components (mainly in clutch systems and brake linings) at its site in Condé-sur-Noireau in France. After almost 100 years of asbestos pollution and after legal proceedings that lasted more than ten years, Valeo, several managers and the responsible company doctor were convicted in 2006 and 2007 of negligent homicide , negligent bodily harm and failure to provide assistance in Condé-sur-Noireau. Valeo has since implemented strict regulations to prevent and remediate asbestos risks for employees and former employees; these were also ratified on April 10, 2009 in an agreement with the French Ministry of the Environment.

Web links

Individual evidence

  1. ↑ a b Profile and Key Figures |. Retrieved March 6, 2020 .
  2. ↑ Annual Report 2019. Retrieved on February 28, 2020 (English).
  3. ↑ Annual Report 2019. Accessed March 6, 2020 .
  4. ^ The Board of Directors |. Retrieved March 6, 2020 .
  5. ↑ PALMARES 2017 DES DEPOSANTS DE BREVETS EN FRANCE. Retrieved October 18, 2020 (French).
  6. ↑ Reuters Editorial: Top 100 Global Innovators. Retrieved March 6, 2020 .
  7. ↑ Members. In: CLEPA. Retrieved March 6, 2020 (American English).
  8. ↑ a b c micdec: VALEO: QUELLE HISTOIRE! De 1830 -a- 1988. In: Travail et Recherches. May 13, 2012, accessed on March 6, 2020 (Fri-FR).
  9. ↑ a b c d Our story |. Retrieved March 6, 2020 .
  10. ^ Bénédicte Rochet, Ludo Bettens, Florence Gillet, Christine Machiels, Anne Roekens: Quand l'image (dé) mobilize: Iconographie et mouvements sociaux au XXe siècle . Presses universitaires de Namur, 2015, ISBN 978-2-87037-878-6 ( google.de [accessed March 6, 2020]).
  11. ↑ Siemens apporte sa climatisation à Valeo. March 2, 1995, accessed March 6, 2020 (French).
  12. ↑ Ad hoc service: YMOS AG YMOS sells area - dgap.de. Retrieved March 6, 2020 .
  13. ↑ VALEO: Concentration amongst automotive suppliers: Acquisition of ITT Electrical / Purchase price DEM 3 bn / 18% growth in sales in 1997 | Plasteurope.com. Retrieved March 6, 2020 .
  14. ^ Press corner. Retrieved March 6, 2020 .
  15. ↑ a b SWF, the German wiper specialist. Retrieved March 6, 2020 .
  16. ↑ Valeo Opens First R&D Center in Wuhan. Retrieved March 6, 2020 .
  17. ↑ aftermarket news Staff: Johnson Controls to Sell Engine Electronics Business to Valeo. In: aftermarketNews. January 10, 2005, accessed March 6, 2020 (American English).
  18. ^ Paris Bureau: Valeo completes acquisition of Japan's Niles. Retrieved March 6, 2020 (American English).
  19. ↑ Ingo Kuss: Acquisition: Valeo takes over Eltek Electric Vehicles. Retrieved March 6, 2020 .
  20. ↑ Thorsten Winter: Valeo boss in conversation: "Above all, we are taking over Peiker's employees" . In: FAZ.NET . ISSN  0174-4909 ( faz.net [accessed March 6, 2020]).
  21. ↑ Gabriel Pankow: Confirmed: Valeo takes over Spheros. Retrieved March 6, 2020 .
  22. ↑ A supplier giant swallows Gestigon. Retrieved March 6, 2020 .
  23. ↑ Valeo and Capgemini launch Mov'InBlueTM, a smart digital mobility solution for corporate fleets and vehicle rental companies. In: Capgemini Worldwide. October 10, 2016, accessed March 6, 2020 (American English).
  24. ^ Valeo: Acquisition of FTE Automotive completed. Retrieved March 6, 2020 .
  25. ↑ Our Activities |. Retrieved March 6, 2020 .
  26. ↑ About us. Retrieved March 6, 2020 .
  27. ↑ Innovation tous azimuts chez Valeo. February 9, 2018, accessed March 6, 2020 (French).
  28. ↑ Welcome to Valeo in Germany. Retrieved March 6, 2020 .
  29. ↑ Automobilwoche: Joint venture: Valeo Siemens eAutomotive goes into operation. Retrieved March 6, 2020 .
  30. ↑ finanzen net GmbH: Valeo SA company profile - BÖRSE ONLINE. Retrieved March 6, 2020 .
  31. ↑ Amiante. Chronologie d'un scandale à Condé-sur-Noireau. Ouest-France, February 28, 2013, accessed November 4, 2013 (French).