Valeo seeks US acquisition.(Suppliers)(Brief Article)

Automotive News Europe,  July, 2005  by Saint-Seine, Sylviane de

• E-mail
• Print
• Link

Byline: Sylviane de Saint-Seine

Valeo is looking for acquisitions in the US, spurred by a favorable exchange rate and financial difficulties experienced by local suppliers.

"The supply industry in the US is weaker and the dollar is weak," said Valeo CEO Thierry Morin at a press conference here last Friday.

"Draw your own conclusions," he replied when asked whether that meant Valeo wanted to expand in the US through acquisition.

US partsmakers such as No. 1 US-based supplier Delphi and No. 3 US supplier Visteon have financial troubles and may have to ...

Read the rest of this article with a Free Trial at HighBeam Research.