Valeo has announced today (23 February) the acquisition of Japanese automotive supplier Niles for EUR320m (US$438m).
The deal – inked with RHJ International and Nissan to acquire Nile – will see Valeo add to its Comfort and Driving Assistance Systems Business Group.
The company says the agreement will strengthen its position in Asia (Japan, China, Thailand) and with Japanese automakers, particularly Nissan and claims it will make it the “leader in the automotive Human-Machine Interface market.”
This project, with accretive effect from the first year, is, maintains Valeo, within the framework of the strategy presented to the Group’s shareholders in 2010, aiming to reinforce the company’s presence in Asia.
The agreement is subject to various preconditions, such as approval of anti-trust authorities, before it can enter into effect. Vaelo has 110 plants, 20 research centres, 38 development centres, 10 distribution platforms and employs 57,300 people in 27 countries worldwide.