Components maker Valeo could buy businesses from struggling US rivals Delphi and Visteon, the French company’s head reportedly told a French newspaper.
“The weakness of Delphi and Visteon, two market leaders, should allow us to win market share or make acquisitions,” Valeo chairman Thierry Morin told Le Figaro daily, according to Reuters. “Delphi like Visteon should be open to propositions from equipment makers such as Valeo. Some of their activities could interest us.”
Morin reportedly said Valeo’s debt-to-equity ratio gave it flexibility to make acquisitions and temporarily raise it from its current level of 70%.