Companies / France
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Valeo purrs on as Faurecia takes another blow
July 2006 | Industry NewsSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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While its industry counterpart Faurecia has slumped into the red and become embroiled in a corruption scandal, French car parts maker Valeo has unveiled a robust profit for the first half of 2006. Refusing to succumb to a tough operating climate - the spiralling cost of raw materials and a pricing clampdown by manufacturers - Valeo's net profit has soared 30.6% to EUR94mn. The company's operating profit is up 6.3% to EUR169mn, while turnover amounted to EUR50.31bn. Valeo intends to improve its management system in the second half of the year and believes it is on course to obtain its