FRANCE: Valeo restructures business units
Valeo is to restructure its business around four groups to boost growth across its markets, improve efficiency and increase profits, it said.
The French component group, which previously had 11 branches of activity, will split into four divisions - comfort and detection systems, powertrain systems, thermal systems and visibility systems - as well as strengthen the role of its representatives in different countries.
The company is due to publish second quarter sales on 31 July. It posted a 33.4% drop in first quarter sales in April, pledging at the time to step up cost-cutting plans. It added that it would consult with labour representatives over the reorganisation.
Comfort and detection systems will group interior controls and security systems as well as the driving assistance domain organisation and all product families relating to the driver's interface.
Powertrain systems regroups the engine and electrical systems and transmissions product families as well as the powertrain efficiency domain organisation. The product families in this business group are key to the reduction of energy consumption and CO2 emissions.
Thermal systems will bring together climate control, compressors and the engine cooling product families as well as the comfort enhancement domain organisation which relates to cabin comfort and the reduction of energy consumption.
Visibility systems regroups the lighting systems and wiper systems product families which contribute to driver safety through better visibility for the vehicle and driver.