Company Receives Eighth GM Award Business Editors, Automotive Writers NOTE TO MEDIA: Photo is available in a Smart News Release(TM) on Business Wire's Home Page at www.businesswire.com and at www.newstream.com WASHINGTON--(AutomotiveWire)--May 2, 2001--Valeo was named a General Motors Supplier of the Year, recognizing superior performance in the areas of quality, service, technology and price of the company's starters and IP switches activities. The award was presented during ceremonies Saturday, April 28 at the historic Warner Theatre in the nation's capital. "It is an honor for Valeo and the starters and IP switches teams to be named General Motors Supplier of the Year," said Valeo chairman and CEO Thierry Morin, who accepted the award on behalf of the company. "This award marks the eighth time GM recognized Valeo's dedicated efforts to exceed performance goals, and clearly illustrates the effectiveness of the Valeo 5 Axes for customer satisfaction. We look forward to the opportunity for continued service to GM in years to come." The GM Supplier of the Year awards began as a global program in 1992. Award-winners are selected by a global team of executives from purchasing, engineering, manufacturing and logistics who base their decisions on supplier performance in quality, service, technology and price. This year, General Motors honored 165 suppliers from 20 countries for their excellence throughout 2000. "Valeo represents the best of the best and it has set an example during the past year for other companies to follow," said Bo Andersson, executive in charge, GM Worldwide Purchasing. "It is a role model and it is an honor to work with a company so committed to supporting our priorities for quality, launch and a balance between current and future business." Valeo starters and IP switches activities are among the world leaders. These businesses are a part of the Group's electrical and electronics business segment, which accounts for nearly 6 billion euro ($5.4 billion) in sales and has grown considerably for more than a decade. Valeo received Corporation of the Year honors from General Motors in 1993. Valeo is an independent industrial group fully focused on the design, production and sale of components, integrated systems and modules for cars and trucks and ranks among the world's top automotive suppliers. With 2000 sales of 9.1 billion euro ($8.2 billion), Valeo has 167 plants, 49 R&D centers, 10 distribution centers and employs 75,000 people in 24 countries worldwide. For further information on the Group and its activities, please see the website www.valeo.com. Note: A Photo is available at URL: http://www.businesswire.com/cgi-bin/photo.cgi?pw.050101/bb11
Valeo Honored by General Motors as a 2000 Supplier of the Year;
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