Valeo Innovative Back-Over Protection System Wins a 2014 Automotive News PACE Award

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Apr 08, 2014, 01:00 ET

TROY, Mich., April 8, 2014 /PRNewswire/ -- Valeo has won a 2014 Automotive News PACE (Premier Automotive Suppliers' Contribution to Excellence) Award for its back-over protection system. The Back-Over Protection System offers the advantages of both ultrasonic park assist sensors and a rear camera, while providing added comfort and safety for reversing maneuvers.

The innovation is unique to the market due to its four-meter obstacle detection range. It offers a faster obstacle alert when compared with a traditional ultrasonic system and overcomes many of the signal absorption issues of ultrasonic systems. It has improved image quality and better low-light performance and has significant cost savings and weight reduction when compared with current systems on the market.

The Back-Over Protection System helps drivers avoid potential accidents when reversing the car. The system combines the strength of ultrasonic park assist sensors and an intelligent rear camera. It is comprised of a mega-pixel High-Dynamic-Range (HDR) imager to provide vision-based object detection, while integrating with ultrasonic sensors – all in a compact single-box design.

Valeo accepted the honor at the 2014 Automotive News PACE Awards ceremony on April 7, 2014 at the Max M. Fisher Music Center in Detroit. For over 20 years the Automotive News PACE Awards have honored superior innovation, technological advancement and business performance among automotive suppliers. This prestigious award is recognized around the world as the industry benchmark for innovation. In the past, Valeo won PACE awards in 2013 for its Air Intake Module, 2012 for its Visioblade wiper system; 2008 for its Park4U^® park assist system; 2007 for its Multi-Beam Radar (MBR) blind-spot radar sensor; 2006 for its StARS micro-hybrid system; and 2005 for its LaneVue™ lane departure warning system.

Valeo is an automotive supplier and partner to all automakers worldwide. Valeo is a technology company providing innovative products and systems contributing to CO2 emission reduction and intuitive driving advancements. In 2013, the Group generated sales of €12.1 billion ($16.09 billion*) and invested more than 10 percent of its original equipment sales in research and development. Valeo has 124 production sites, 16 Research centers, 35 Development centers and 12 distribution platforms and employs 74,800 people in 29 countries throughout the world.

In North America, Valeo's regional headquarters are located in Troy, Mich., and the company has 16 production sites and seven research and development centers. The company employs 9,965** people across the United States (3,163) and Mexico (6,802) and was responsible for 19 percent of the Group's 2013 global annual original equipment sales, contributing €1.949 billion ($2.59 billion*).

The company's innovative solutions are developed by four business groups - Powertrain Systems, Thermal Systems, Comfort and Driving Assistance Systems and Visibility Systems. Valeo's key products support and advance automotive electrical systems; transmission systems; engine management systems; air management systems; hybrid and electric vehicle systems; climate control systems; powertrain thermal systems; compressors; front-end modules; driving assistance; interior controls; interior electronics; lighting systems; wiper systems; and, wiper motors.

More information about the Valeo Group and its activities can be found on the Internet at www.valeo.com

*Currency conversion based on the average of the 2013 month-end FX Euro to USD of 1.3308.
**Total number of employees as of end of December 31, 2013.

For more information, please contact:

Brad Warner
Phone: (248) 619-8377
E-mail: [email protected]

Safe Harbor Statement
Statements contained in this report, which are not historical fact, constitute "Forward-Looking Statements". Even though Valeo's management feels that the Forward-Looking Statements are reasonable, investors are put on notice that actual results may differ materially due to numerous important factors, risks and uncertainties to which Valeo is exposed. Such factors include, among others, the company's ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions. The risks and uncertainties to which Valeo is exposed mainly comprise the risks resulting from the investigations currently being carried out by the anti-trust authorities as they have been identified in the Registration Document, risks which relate to being a supplier in the automotive industry and to the development of new products and risks due to certain global and regional economic conditions. Also included are environmental and industrial risks as well as risks and uncertainties described or identified in the public documents submitted by Valeo to the French "Autorite des Marches Financiers" (AMF), including those set out in the "Risk Factors" section of Valeo's Registration Document registered at the AMF on March 29, 2012 (ref. no. D.12-0237). The company assumes no responsibility for any estimates made by analysts and any other information prepared by third parties which may be used in this report. Valeo does not intend or assume any obligation to review or to confirm the estimates of analysts or to update any Forward-Looking Statements to reflect events or circumstances which occur after the date of this report.

SOURCE Valeo