Valeo is interested in making acquisitions worth between €300 million and €1.0 billion, the head of the French auto parts maker reportedly said in an interview with a French newspaper.

According to Reuters, Thierry Morin said he would focus on acquisitions that would bring new technology to the company’s electronic systems, electrical systems, climate control or engine cooling activities.

“The most important thing is that we enrich these branches and integrate (acquisitions) rapidly, rather than size,” Morin reportedly said.

He noted, however, that Valeo had no desire to increase its debt/equity ratio to the level of some of its peers, around 100-150%, from its current level of around 20%, as a result of acquisitions, Reuters said.

Morin reportedly said a recovery in the US auto market was already underway, but predicted that a “real” rebound in Europe would not happen until 2005.