Nuremberg/Montigny-le-Bretonneux, 4 September 2007  – Leoni Bordnetz-Systeme GmbH, a company of the Leoni Group, is engaged in advanced negotiations to acquire Valeo Connective Systems, the wiring systems division of French automotive component supplier Valeo. A due diligence examination was previously completed. Subject to cartel authority approval and hearing of Valeo’s employee representatives, the negotiations could be completed before the end of this year.

By acquiring Valeo’s wiring system business amounting to about EUR 543 million (2006 sales), Leoni would advance to the position of leading European supplier of wiring systems to the motor vehicle industry and gain access for the first time to the French automotive industry.

Valeo Connective Systems, which is based in Montigny-le-Bretonneux, focuses on developing and manufacturing electrical and electronic supply systems for vehicles. Its customer base includes well-known carmakers such as PSA, Renault, Fiat and VW as well as multinational component suppliers.
The customer bases of both companies would thus complement each other in an ideal way.

In total, Valeo Connective Systems has about 11,700 employees at twelve production facilities as well as several research and development centres.