Valeo to sell unit to Leoni

It employed 11,700 people at 12 industrial sites, including 9 in cost-competitive countries at 30 June 2007. Subject to consultation of the employee representative committees and approval by the antitrust authorities, the negotiation could be completed by year end. The divestiture of the wiring harness activity is in line with Valeo's strategy, announced at the Annual General Meeting of Shareholders, to focus its product offer on solutions in the Domains of Driving Assistance, Powertrain Efficiency and Comfort Enhancement, backed by its strong competitive position and diversified customer base. This sale is a step in the plan to divest activities amounting to around 2 billion euros of sales by the end of 2008.