Valeo is to temporarily shut some of its French factories over the December holiday period because of falling car production.
A spokesperson told the news agency Reuters : “We plan to temporarily close some sites for two weeks on average due to a decline in the production of carmakers.”
No other details were given.
In October, the French parts supplier reported a fall in its third quarter sales, despite stable volumes in the period, as the company took a hit on exchange rates and falling prices. The components group noted at the time, however, that its flat volumes were in contrast to a general market that was down nearly 4%.
At the time, the group confirmed that for 2008, it would achieve an operating margin similar to that of 2007.