Transportation
Valeo Seeks Buyers for Three French Sites Amid Demand Slowdown
- Auto supplier is ready to consider all options for the sites
- Plants in Western Europe suffer as manufacturers relocate
Auto suppliers are under pressure as the automotive industry grapples with a costly shift to electrification.
Photographer: Chesnot/Getty Images
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Auto supplier Valeo is seeking buyers for two car parts plants and a research and development center in France amid a Europe-wide decline in car production.
The two plants no longer have sufficient business and the research center would have required an expensive overhaul to remain in operation, a Valeo spokesman said by phone. All options are on the table for the sites, he said, including selling them to Chinese buyers. He added that the top priority is to protect jobs. About 1,000 people are employed across the three sites.