The head of French car parts maker Valeo on Monday confirmed a target of 5-10% internal growth from mid 2004 and reiterated the company’s turnover would fall in line with the market this year, Reuters reported.
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“We maintain our target of annual internal growth between 5 and 10% from mid-2004,” chairman Thierry Morin reportedly said in an interview in French newspaper Le Figaro cited by the news agency.
He reportedly also confirmed that Valeo did not exclude making acquisitions, adding bond issues meant it had €500 million in available funds.
According to Reuters, Morin, who has said the company is considering acquisitions in the electronics industry, said the firm might be interested in the area of motor control.
When asked if Valeo itself could be a takeover target, Morin reportedly said the company had not been bought at €20 per share so there was no reason why it was at risk at €35 per share, Reuters said.
