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FRANCE: Valeo ditches electric motors and actuators

By just-auto.com editorial team | 17 November 2006

Valeo has agreed the sale of its electric motors & actuators business to Japanese group Nidec for EUR165m.

In 2005 the business made sales worth EUR253m and an operating income of EUR9m.

The transaction should close by 31 December.

In a statement, Valeo said the sale was in line with its strategy to focus on what components for what it categorises as 'driving assistance', 'powertrain efficiency' and 'comfort enhancement'.

Nidec is an industrial company specialising in high range electric motors which operates globally. It makes annual sales of around EUR4bn and has 19 manufacturing sites, primarily in Asia.