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.October 27, 2004
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This Week:

• H3: Authentic HUMMER Style And Capability In A Midsize

• Nissan Marks 35th Anniversary of the Z® In North America

• DaimlerChrysler Puts More Fuel Cell Vehicles on Public Roads

• Ford Thunderbird - An American Icon - Celebrates Its 50th Anniversary

• Hino Motors Manufacturing USA Begins Their First Ever North American Truck Production At Toyota's Facility In California

• All-New Jeep® Grand Cherokee Climbs to New Heights

• Greater Performance, Greater Safety, Greater Comfort - The New BMW 3 Series

• H2H: GM Creates Hydrogen-Powered HUMMER

• Chrysler Group and Magna Steyr Enter Agreement for Chrysler 300C Production

• Valeo Announces a Plan to Close Its Facility in Orense, Spain

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Valeo Announces a Plan to Close Its Facility in Orense, Spain

PARIS - Valeo announced that it has called for a meeting of the Works Council of its facility in Orense, Spain to discuss the proposed closure of the site. The facility is part of the Electronics and Connective Systems Branch and manufactures wiring harnesses.

Despite the measures put in place in 2002 and 2003 to preserve employment at the site, the economic situation has continued to worsen. The facility, which employs 234 people, cannot be competitive as compared with production of these products in lower cost countries, and it is now envisaged to close the plant.

The manufacturing of the products, some of which are reaching their end of life, will be transferred to other sites within the Branch.

The plan will include the necessary measures to find alternative jobs for affected employees through internal and external redeployment activities: some production will be transferred to the neighboring site of Porrino and the reindustrialization of the Orense site will be a priority.

(Oct 26, 2004)