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Valeo eyes new plants and more staff
Last Updated: 2013-04-24 00:00 | Shanghai Daily
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French auto parts maker Valeo SA will open four new plants and hire more workers in China as it plans to double sales in the country between 2011 and 2015.

By 2014, Valeo expects to have the most number of workers in China, and the most sales by 2015 or 2016 in the country, the Paris-based firm said at Auto Shanghai 2013.

China has grown from 6 percent of Valeo's total sales in 2008 to 10 percent last year.

Valeo said it grew quicker than the market average for over five years in China because sales doubled from 2007 to 2011. It predicts the growth will continue when it opens four new plants this year, up from 22 factories it now has in the country.

The company now employs 12,000 people in China and plans to hire 1,500 more managers and engineers this year to bring the total number of employees to 15,000 by 2015 in the country, even more than that in France.

With an output of nearly 40 million vehicles, Asia accounts for over half of global auto production, Valeo said, adding that China's output may reach 19.6 million vehicles to rank it as the world's leading auto producer this year.

Valeo saw group profit drop 11 percent to 380 million euros (US$502 million) last year despite solid orders for its fuel-saving and safety technologies in Asia.

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