Valeo Announces a Plan to Close its Facility in Orense, Spain

Paris (ots/PRNewswire) - Valeo today announced that it has called
for a meeting of the Works Council of its facility in Orense, Spain
to discuss the proposed closure of the site. The facility is part of
the Electronics and Connective Systems Branch and manufactures
wiring harnesses.

Despite the measures put in place in 2002 and 2003 to preserve
employment at the site, the economic situation has continued to
worsen. The facility, which employs 234 people, cannot be competitive
as compared with production of these products in lower cost
countries, and it is now envisaged to close the plant.

The manufacturing of the products, some of which are reaching
their end of life, will be transferred to other sites within the
Branch.

The plan will include the necessary measures to find alternative
jobs for affected employees through internal and external
redeployment activities: some production will be transferred to the
neighboring site of Porriño and the reindustrialization of the Orense
site will be a priority.

Valeo is an independent industrial group fully focused on the
design, production and sale of components, integrated systems and
modules for cars and trucks. Valeo ranks among the world's top
automotive suppliers. The Group has 130 plants, 65 R&D centers, 9
distribution centers and employs 70,200 people in 26 countries
worldwide.

Rückfragehinweis:
Contact presse : Kate Philipps, + 33-1-40-55-20-65,
kate.philipps@valeo.com; Rémy Dumoulin, + 33-1-40-55-29-30,
remy.dumoulin@valeo.com

OTS-ORIGINALTEXT UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS | PRN

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