Valeo Receives 2007 Renault Supplier Quality Award and Announces Record Quality Level in 2007

Valeo announces that it has received a 2007 Supplier Quality Award from Renault, recognizing the excellent quality of the engine cooling products delivered by its European Division.

The third annual Renault Supplier Awards were presented by Carlos Ghosn, President; Odile Desforges, Senior Vice-President in charge of Purchasing and Chairman & Managing Director of RNPO (Renault-Nissan Purchasing Organization); and Yann Vincent, Senior Vice-President in charge of Quality. They were awarded to suppliers who demonstrated outstanding performance and actions in favor of quality, which is one of the priorities of Renault’s Commitment 2009.

In addition to the quality of parts delivered, the award also recognizes a supplier’s reactivity and its customer satisfaction performance.

“We are honored to receive this important award from Renault, which acknowledges the major efforts our Group has made in improving quality over the past few years,” said Thierry Morin, Valeo Chairman & CEO. “All Valeo employees have an obsession for quality and this has enabled us to achieve our lowest ever level of customer returns in 2007.”

The Valeo Group as a whole has slashed its level of customer line returns (measured in ppm, or defective parts per million) by 95% in five years, reaching the historically low level of 10 ppm at end 2007; 65% of Valeo’s 125 sites worldwide have achieved less than 10 ppm and 14% have reached zero ppm, which is the Group’s ultimate goal.