PARIS, Sept. 9 /PRNewswire-FirstCall/ -- Valeo today announced the
establishment of Valeo Furukawa Wiring Systems, a 50/50 joint venture with
Furukawa Electric. The joint venture is headquartered in France with offices
in Japan, China and North America and represents the next step in the global
alliance between Valeo and Furukawa announced in October 2003.
Valeo Furukawa Wiring Systems benefits from the geographic
complementarities of Valeo and Furukawa to better serve its customers in
automotive wiring harness systems worldwide. The combined strength of Valeo's
leadership position in Europe and Furukawa's strong presence in Asia, notably
China, will be a major advantage for customers. The company will directly
manage commercial relationships with the customers and design development,
whilst manufacturing will be carried out in either Valeo or Furukawa
facilities as appropriate.
The new company has already won its first wiring harness contract for a
commercial vehicle to be assembled in Europe.
Furukawa Electric is a manufacturer, and supplier of leading edge optical
fiber and cables, photonic products, power cables, nonferrous metals,
electronics devices. Headquartered in Tokyo, Japan, Furukawa operates
facilities in United States, Canada, Mexico, Brazil, United Kingdom, Hungary,
the Netherlands, Czech Republic, and Asian countries.
Valeo is an independent industrial Group fully focused on the design,
production and sale of components, integrated systems and modules for cars and
trucks. Valeo ranks among the world's top automotive suppliers. The Group has
128 plants, 65 R&D centers, 9 distribution centers and employs 68,700 people
in 26 countries worldwide (end June 2004).
SOURCE Valeo
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CONTACT:
Kate Philipps, Group Communications Director
of Valeo, +33-1-40-55-20-65, or kate.philipps@valeo.com
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