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March 14, 2007

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Valeo earns five awards from Toyota, including the top quality award

Valeo announced today that it has earned five awards from Toyota Motor Europe, including the Superior Performance Award in Quality.

The awards, presented yesterday at Toyota's Annual Business Meeting in Brussels, are the following:

A Superior Performance Award, in the Quality category, given to the Valeo Group. This is the highest recognition offered by the Japanese carmaker to a supplier.

An Achievement Award, in the Cost Management category, given to the Valeo Group.

An Achievement Award, in the Project Management category, given to Valeo Lighting Systems.

Two Recognition Certificates, in the Supply category, given to Valeo Security Systems and to the Valeo Transmissions Amiens site.

“Toyota is one of the most demanding automotive manufacturers in the world. These prestigious awards demonstrate the huge progress made by Valeo in recent years in drastically improving its quality to reach world class levels,” said Thierry Morin, Chairman and CEO of Valeo. “It is great recognition for all Valeo employees for whom quality is a daily obsession.”

The Superior Performance Award recognizes the quality performance of all 19 Valeo manufacturing sites supplying Toyota’s plants in Europe, which significantly decreased their annual ppm (rejected parts per million) and dpm (delivery performance per million) levels over a three-year period. Last year, Valeo received two Superior awards from Toyota for the quality performance of the Valeo Transmissions Amiens and Valeo Lighting Angers sites.

Eight Valeo Product Families today equip Toyota vehicles produced in Europe, including the successful Aygo and the new Auris models.

At Group level, Valeo reached the historically low level of 15 ppm in customer line returns at the end of 2006, compared to 53 ppm three years ago. Nearly 50% of Valeo sites are now constantly below 10 ppm.
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(March 13, 2007)


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