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Electronics Production | July 31, 2007

Valeo acquires Connaught Electronics

French based company Valeo has completed the acquisition of Connaught Electronics Ltd., an Irish producer of vehicle electronics.
This acquisition strengthensValeo's Driving Assistance Domain through the extension of its lineof camera-based vision solutions for low-speed maneuvering.

Headquartered in Tuam near Galway in Ireland, CEL is a privatecompany which develops and produces automotive electronic components, particularly camera applications for driving assistance functions andradio frequency applications for remote vehicle access and security.The company employs nearly 300 people at two facilities in Tuam, Ireland and in Humpolec, Czech Republic.

With annual sales of 37 million euros in 2007, this new divisionis expected to double its sales by 2010. In the past two years, CELwon significant orders from two leading European car makers forinnovative camera-based solutions.

"This acquisition is fully in line with our strategy to strengthenour product portfolio in our three Domains of Driving Assistance,Powertrain Efficiency and Comfort Enhancement," said Thierry Morin,Chairman & CEO of Valeo. "CEL's low-speed maneuvering solutions arefully complementary to our extensive Driving Assistance Domainproduct offering and we're confident this market segment has a greatpotential."
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December 13 2018 1:08 pm V11.10.14-2