Valeo's History

The origin of "Valeo":
The word "Valeo" comes from the Latin for "to feel good". It was used by the ancient Romans as part of a common greeting, which can also be found in Cicero’s epistles: "Si Vales, bene est: ego Valeo" (I’m fine and I hope you are too).

A brief history of Valeo:
1921:
· Eugène Buisson becomes the exclusive French representative for the distribution of Ferodo brake linings produced
by the British company Ferodo Ltd.
· Friction materials become the Group’s first core business.
1923:
· Eugène Buisson decides to become a manufacturer in his own right and opens a workshop in Saint Ouen near
Paris. He sets up Société Anonyme Française du Ferodo (SAFF).
· The company adds clutch facings to its brake lining activity.
1928:
· Acquisition of La Plastose, a specialist in synthetic resins and molding powders.
1932:
· Société du Ferodo starts to manufacture complete clutches under a license agreement with the German company
Fichtel und Sachs.
· Société du Ferodo is listed on the Paris Bourse.
1934:
· Acquisition of Société Flertex (friction materials).
1935:
· Exclusive license for Borg-Warner (Chicago) patents. As a result, Société du Ferodo owns almost all the patents in France for clutches.
1938:
· Société du Ferodo obtains a license for hydraulic couplings from Vulcain Sinclair.
1944:
· During the battle of Falaise, Ferodo’s Normandy plants are partially destroyed.
· The Saint Ouen plants (friction linings and clutches) suffer serious damage in the fighting to liberate Paris.
· Société UGFA is set up with the assets of several small companies producing friction materials.
1958:
· The first section of the Amiens plant (clutches) is built.
1961:
· Acquisition of the SIME Group of companies, bringing expertise in various applications for electromagnetic
processes, notably brake production.
1962:
· Takeover of SOFICA (heaters for the automotive industry, industrial and domestic heating appliances and air
conditioning units) with its plant in Nogent-le-Rotrou.
1963:
· Société Ferodo Espanola, specializing in the manufacture of friction linings, is set up in Madrid with Ferodo Ltd and
Spanish partners.
· Acquisition of SAMP, based at La Suze-sur-Sarthe. SAMP is SOFICA’s main supplier of heater casings.
1964:
· A new company, Société d’Etudes et de Productions de Mondovi (Valeo), is set up in Turin.
1965:
· Société du Ferodo takes a shareholding in the Spanish company Fraymon (clutches), which later becomes Valeo
España.
1966:
· Société du Ferodo takes a shareholding and then a majority stake in the Barcelona-based company Faessa
(thermal and electrical equipment).
· The Mondovi (Italy) plant comes on line to produce clutches.
1967:
· Société du Ferodo takes a 29% shareholding (later increased to 50%) in the LuK clutches company.
1969:
· The Auxerre plant comes on line to produce insulating products for the construction industry.
1970:
· Takeover of SEV-Marchal: headlamps, spark plugs, windshield wipers, alternators, ignitions, horns, etc.
Ferodo broadens its long-term strategy to include automotive electrical equipment.
· Acquisition of Hydraland, a company manufacturing hydraulic dredges and propulsion units.
1971:
· Pasa (headlamps) is set up in Spain.
1972:
· The Limoges plant (friction materials) is built.
· Société du Ferodo and the German company Robert Bosch group their electrical equipment activities into a holding company, Financière d’Equipements Automobiles (FEA). Ferodo has a majority stake.
1973:
· Société Aveyronnaise de Métallurgie is set up as a light alloy foundry for automotive parts.
· Takeover of ELMA (lighting) in Italy.
1974:
· Société Sofica Limitada is set up in Brazil (Sao Paulo) to make heat exchangers.
· Valeo Sud heat exchanger plant opens in Frosinone (Italy).
· Marchal electric motor plant comes on line in Châtellerault (France).
1978:
· Takeover of Cibié (headlamps) with plants in France (Bobigny, Angers) and Spain, and of Paris-Rhône (alternators, starters) with its foundries and workshops (FAR) and its subsidiary, Bourgeois, specializing in the manufacture of
household appliances (vacuum cleaners, floor polishers, cookers and ovens, etc.).
· Cibié and Paris-Rhône merge with SEV Marchal to become Société pour l’Equipement de Véhicules (SEV).
· Takeover of several companies of the SARET Group, specializing in the manufacture of pre-stressed concrete
products for the building industry.
1979:
· Takeover of SOMA, a leading French manufacturer of drive axles and gearboxes for trucks.
· With other partners, Société Ibramaf set up in Brazil to make friction linings.
· Itatiba plant (climate control) built near Sao Paolo, Brazil.
1980:
· On May 28, 1980, the Annual General Meeting of Shareholders of Société Anonyme du Ferodo changes the name
of the company to Valeo.
· All the Group’s construction activities grouped together in a new company, ISBA SA.
1981:
· Valeo Auto Industries (heat exchangers) set up in the United States.
· Takeover of Cibié do Brasil (lighting).
1983:
· Société Valeo-Alternateurs set up in Angers. Takeover of Motorola Alternateurs and its Angers plant.
1984:
· Takeover of Ducellier (alternators, starters, headlamps, ignition) and conversion of the Issoire plant to wiper
systems.
1985:
· Valeo International Holding B.V, a financial company, set up in the Netherlands.
· Faessa is merged with Pasa (headlamps) to form Société Faespa.
1986:
· Cerus makes a bid for the Valeo Group, restructures the capital and becomes the major shareholder.
1987:
· January : Noël Goutard named as Chairman & CEO of Valeo.
· Acquisition of Neiman (security systems), which also brings the Group the wiper systems activity of its subsidiary
Paul Journée.
· Acquisition of the heat exchanger division of the Chausson company.
· The Group focuses on core automotive businesses. Sells Société Lambert and the SCPB (components for the
construction industry), followed by the Group’s activities in construction (ISBA), foundries and electrical equipment
(SAM and SEUD), steel making and springs (Allevard).
1988:
· SOMA (axles and transmissions) sold.
· Development in security systems pursued with the takeover of Clausor, a licensee of Neiman in Spain, and the
German company Tibbe KG, which subsequently merges with the subsidiary Neiman GmbH.
· Valeo Pyeong Hwa (clutches and ring gears) in South Korea, Valeo Transturk (clutches and distribution) in Turkey
and Valeo Eaton (truck clutches) in the United States set up.
· Valeo Acustar Thermal Systems Inc., a joint venture for the Group’s climate control activities, set up in the United
States.
1989:
· Acquisition of Delanair, U.K. leader in climate control systems.
· Acquisition of the American firm Blackstone, a specialist in engine cooling with facilities in the USA, Mexico and
Canada, and European subsidiaries in Sweden, Italy (IPRA) and Spain.
1990:
· The Group sells its non-strategic activities: brake linings, ignition, horns.
1991:
· The Group implements its 5 Axes methodology.
1992:
· An electronics R&D center is set up at Créteil outside Paris and an electronic module production facility opens at
Meung-sur-Loire (France).
1993:
· Plants built in Gorseinon (Wales) and Toluca (Mexico) for climate control; Hirson (France) and Pianezza (Italy) for
lighting systems.
· Two R&D centers open in France, one at Bobigny for lighting systems and the other at Saint Ouen for clutches.
1994:
· Acquisition of the German company Borg Instruments (passenger compartment electronics).
· Joint ventures set up in Argentina (clutches) and China (wiper systems, climate control, lighting systems and
electrical systems) with Valeo as the majority shareholder.
1995:
· Valeo signs an agreement with Siemens AG to merge common heating and air conditioning activities into a new
company, Valeo Climatisation, which subsequently takes over the German company Thermal.
· Valeo sets up business for the first time in Eastern Europe in the Czech Republic (thermal systems) and in Poland
(clutches).
· International development continues with the opening of new plants in Argentina (clutches), Canada and China
(lighting systems) and Brazil (security systems).
1996:
· Acquisition of a stake in Mirgor, Argentina’s main air conditioning manufacturer.
· Acquisition of Fist SpA, the Italian leader in automotive door handles and locks.
· Acquisition of the German group Ymos AG’s Lock Systems Division, specializing in automotive door closing and
anti-theft devices.
· Acquisition of full ownership of the Czech company Klimatizacni Systemy Automobilu (heating and air conditioning
systems).
1997:
· Valeo makes its entry into the Paris Bourse’s CAC 40 blue chip share index.
· Joint ventures set up in India and China (clutches) and in India (friction materials).
· Acquisition of the Brazilian group Univel, specialized in door locking systems.
· Creation of Valeo Sylvania, a 50/50 lighting systems joint venture with Osram Sylvania in the U.S.
1998:
· Extension of Valeo re-manufacturing activities to air conditioning compressors, through the creation of a 50/50 joint
venture with Four Seasons, a division of the U.S. group Standard Motors Products.
· Logistics centers opened in Memphis, Tennessee (USA) and in Sao Paulo (Brazil).
· Acquisition of the Electrical Systems business of the U.S. group ITT Industries.
1999:
· Disposal of the fuel tank cap and filler activities in France and Italy, as well as the glass lens, fuel tank piping
(Ergom) and door lock (Motrol) activities in Brazil.
· Acquisition of the alternators and starters business of Mando Electrical Machinery in South Korea.
· Creation of a joint venture with Unisia Jecs in Japan in the field of manual and automatic transmissions.
· Strategic alliance set up between Valeo and Zexel Corporation in the field of automotive thermal systems.
· Disposal of the 50% stake in clutch manufacturer LuK.
2000:
· May: André Navarri named as Chairman & CEO of Valeo.
· First industrial investment in South Africa: joint venture with Metair for the production of front end modules.
· Agreement with Ichikoh of Japan to set up a global alliance in lighting products and systems.
· Joint venture set up with Plastic Omnium for the production of front end modules.
· Acquisition of the Labinal group's automotive activities (Sylea, Telma and Filtrauto), strengthening the Group’s
position as a systems supplier in the electrical/electronics sector.
· Opening of an electronics plant in Fort Worth, United States.
· Opening of a plant in Veszprem, Hungary (switches & detection systems).
2001:
· Opening of a plant in San Luis Potosi, Mexico (electrical systems).
· March: Appointment of Thierry Morin as Chairman & CEO of Valeo.
· Strategic alliances with SKF, Tenneco Automotive and TRW to improve logistical services to European customers
in the spare parts market.
· May: Valeo's corporate structure modified to a management board and a supervisory board. Launch of a program
to dispose of non-strategic businesses.
· Opening of a plant in Zebrak, Czech Republic (climate control, later engine cooling).
· Valeo and Iteris sign an agreement to develop and market integrated automotive vision systems.
· Opening of a plant in Skawina, Poland (engine cooling).
· Valeo and Ricardo sign an agreement to develop a 42-volt diesel hybrid vehicle.
· Sale of Filtrauto (11 sites).
2002:
· Valeo forms an alliance with International Rectifier to develop advanced power electronic systems
· Launch of Valeo Collective Memory, Valeo’s global knowledge management system
· Valeo announces a partnership with electronics manufacturing company Jabil.
· Valeo announces the merger of its aftermarket activities to form Valeo Service.
· Valeo collaborates with Saft to strengthen its position in Electrical Energy Management.
· Valeo and Raytheon form Valeo Raytheon Systems Inc. to develop automotive radar systems.
· Opening of a plant in Czechowice, Poland (electrical systems).
· Opening of a new site in Mioveni, Romania (wiring harnesses).
· VERDI (Valeo Electronics R&D International) center opens in Casablanca, Morocco.
2003:
· 80th anniversary of Valeo.
· Opening of a new technical center in Prague, Czech Republic (climate control).
· Creation of Valeorigin, the sign of quality for the aftermarket.
· New plant in Skawina, Poland (wiper systems).
· Valeo forms global alliance with Furukawa Electric for automotive wiring harnesses.
· Inauguration of new plant in Bouznika, Morocco (wiring harnesses).
· Valeo increases shareholding in Zexel Valeo Climate Control joint venture to 50%.
· Valeo increases stake in three Chinese joint ventures: 50% in electrical systems, 55% in wiper systems
and 75% in lighting systems.
2004:
· Valeo Service launches "teamValeo" aftermarket brand strategy.
· Launch of 3 Domains for technological innovation: Driving Assistance, Powertrain Efficiency and Comfort
Enhancement
· Opening of a new R&D center for lighting systems in Wuhan, China.
· New lighting systems plant opens in Chrzanow, Poland.
· Valeo increases stake in clutches joint venture in China to 55%.
· Launch of operations at new security systems plant in Kosice, Slovakia.
· China 5 Axes School opens in Shanghai.
2005:
· Valeo acquires Johnson Controls’ Engine Electronics Division, which becomes Valeo Engine Management
Systems.
· Acquisition of 100% of Zexel Valeo Climate Control, leading to the creation of Valeo Compressors, headquartered in
Japan.
· Creation of two new Chinese joint ventures: for air-conditioning compressors with FAWER (60% Valeo owned) and
for switches & detections systems with Hangshen Electronics (75% Valeo owned).
· Second wiring harness site opens in Romania, at Pitesti.
· Creation of a joint venture with Armco for the manufacture of radiators in Iran (51% Valeo owned).
· Valeo acquires 74.9% share of two climate control joint ventures in Thailand: Siam Zexel Co. Ltd. and Zexel Sales
Thailand Co. Ltd.
· New security systems plant opens in Wuxi, China.
· Creation of the 50/50 joint venture Valeo Samsung Thermal Systems in Korea.
2006:
· Valeo disposes of its Zexel Logitec Company logistics subsidiary in Japan.
· Second R&D center in China – VCC China Technical Center – opens in Shanghai.
· Thirteenth joint venture created in China: Foshan Valeo Ichikoh Auto Lighting Systems (50/50 between Valeo and
Ichikoh).
· Valeo acquires 100% of Hubei Valeo Auto Lighting in China.
· New torque converter plant (transmissions) opens in SeongJu, Korea.
· Two former security systems plants in Brazil move into new facility in Guarulhos, Sao Paolo State.
· Electric Motors & Actuators activity sold to Japanese group Nidec.
2007:
· Creation of Valeo Interior Controls (ex-Switches & Detection Systems plus HMI activities, control panels, interior
electronics).
· Valeo Lighting Injection joint venture (51% Valeo, 49% Elba) created in Romania.
· Two new joint ventures created in India: Valeo Minda Security Systems (50/50 between Valeo and A.K. Minda
Group) and Valeo Minda Electrical Systems India Private Ltd (66.7% Valeo and 33.3% N.K. Minda Group).
· Acquisition of Ireland-based Connaught Electronics Ltd. to reinforce Driving Assistance Domain.