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Valeo Electrical Systems, Inc. history
Valeo Electrical Systems, Inc. company history timeline
Unsatisfied, Goutard would suggest that Valeo needed to attain a "critical mass" of FFr 25 billion in revenues--a milestone reached in 1995.
Principal shareholders include France's CGIP, with 20 percent, and Caisse des Dépô× et Consignations, with seven percent, following the sale of former major shareholder, Cerus, a French holding company owned by Italy's Carlo De Benedetti, in 1996.
In 1996 Valeo regained its "independence" when De Benedetti's Cerus sold off its stake in the company.
In January 1997 Valeo's growth earned the company a listing on the Paris Bourse's CAC 40 indicator of leading French companies.
In 1998, the Group acquired the electrical systems business of ITT Industries, as well as the automotive activities of Labinal.
And the company could begin eyeing its next milestone, that of becoming a FFr 40 billion company by the year 2000.
14, 2001 - What was at the time Rochester's ninth-largest employer, Valeo Electrical Systems Inc., filed for Chapter 11 bankruptcy.
It was projected to lose $70 million in 2001 alone.
In 2004, the Group opened its first R&D center in China (Wuhan) dedicated to lighting.
In 2005, Valeo acquired the engine electronics division of Johnson Controls, allowing the Group to strengthen its powertrain efficiency operations for cleaner, more efficient and more economical vehicles.
After some fits and starts, and continuing hopes for that "bright future," the parts plant shut down completely by 2008.
In 2011 Valeo acquired the Japanese automotive supplier Niles, becoming the world leader on the interior controls market.
Since 2014, the group unveiled its new identity as a full-fledged tech company and joined the CAC40 blue-chip index.
In 2017, the Group opened valeo.ai.
In December 2019, Valeo won a Research & Development award for its high definition LED smart lighting technology at the Innovation Awards for Franco-Chinese Teams.
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Valeo Electrical Systems, Inc. competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Delphi Automotive Systems | 1998 | $350.0M | 1,834 | - |
| Allison Transmission | 1915 | $3.2B | 2,900 | 115 |
| GST AutoLeather | 1933 | $530.0M | 2,100 | - |
| International Automotive Components Group North America, Inc. | 2006 | $170.0M | 800 | - |
| Prestolite Electric LLC | - | $690.0M | 2,500 | - |
| Meritor | 1909 | $3.8B | 8,200 | - |
| Superwinch | 1970 | $930,000 | 7 | - |
| Autocar Truck | 1897 | $103.4M | 200 | 23 |
| FCA US LLC | 1925 | $83.1B | 90,000 | 420 |
| Maxion Wheels | 1908 | $926.7M | 6,400 | 3 |
Valeo Electrical Systems, Inc. history FAQs
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Valeo Electrical Systems, Inc. may also be known as or be related to Valeo Electrical Systems, Valeo Electrical Systems Inc and Valeo Electrical Systems, Inc.