Valeo North American Purchasing Director Emilio Esparza Appointed to the MMSDC Board of Directors

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May 15, 2012, 08:00 ET

TROY, Mich., May 15, 2012 /PRNewswire/ -- Valeo North American Purchasing Director Emilio Esparza has been appointed to the Michigan Minority Supplier Development Council's (MMSDC) Board of Directors. Esparza will serve a two-year term with the organization, supporting its mission to certify minority-owned businesses for engagement by corporate members, provide access to procurement opportunities and develop capacity for minority business development.

"Valeo is a strong proponent of the exploration and development of minority suppliers," said Esparza. "The entire supplier community benefits from the growth of healthy competition."

Esparza was nominated for the MMSDC Board of Directors based on his strong background in supplier development and purchasing at both original equipment manufacturer (OEM) and Tier One automotive supplier organizations. He currently leads Valeo's strategic procurement and supply chain management activities for the North American region.

"In addition to being good corporate citizenship, minority business development also helps strategically counteract over-consolidation of the supplier community," said Esparza. "Having viable alternative sources can lead to the optimization of the supply base with a different, healthier, mix."

"We are excited to have Mr. Esparza as part of our strong team of Board of Directors," said Louis Green, President and CEO of MMSDC. "We are eager to introduce Mr. Esparza to many of our thriving minority businesses and entrepreneurs."

Founded in 1977, the Michigan Minority Supplier Development Council (MMSDC) has more than 1,300 certified minority businesses and over 400 corporate members working to further its mission to certify minority businesses; provide access to procurement opportunities; and develop capacity for minority business development. The MMSDC was recognized by the National Minority Supplier Development Council as "Council of the Year" for its work with major corporations to promote minority business development and growth. MMSDC is a non-profit, 501c 3 organization. For more information visit the MMSDC's website at www.minoritysupplier.org.

Valeo is an independent industrial Group fully focused on the design, production and sale of components, integrated systems and modules for the automotive industry, mainly for CO2 emissions reduction. Valeo ranks among the world's top automotive suppliers. The Group has 124 plants, 21 research centers, 40 development centers, 12 distribution platforms and employs 68,000 people in 28 countries worldwide. Valeo reported global sales of euro 10.9 billion ($15.6 billion*) in 2011.

In North America, Valeo's regional headquarters are located in Troy, Mich., and the company has 17 production sites and six research and development centers. The company employs approximately 7,955 people across the United States and Mexico and was responsible for 15 percent of the Group's 2011 global annual sales, contributing euro 1.355 billion ($1.897 billion*).

The company's innovative solutions are developed by its four business groups - Comfort and Driving Assistance Systems, Powertrain Systems, Thermal Systems, Visibility Systems - and Valeo Service. 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; powertrain thermal systems; compressors; front-end modules; driving assistance; interior controls; interior electronics; access mechanisms; 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

Mr. Esparza's image and biography are available upon request.

*Currency conversion based on the average of the 2011 month-end FX Euro to USD of 1.4000.

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." Actual results may differ materially due to numerous important factors. Such factors include the cost and timing of implementing restructuring actions, the company's ability to generate cost savings or manufacturing efficiencies to offset or exceed contractually or competitively required price reductions, conditions in the automotive industry, and certain global and regional economic conditions. The company assumes no responsibility for any analysts' estimates and any other information prepared by third parties which we may reference in this report. Valeo does not intend or assume any obligation to review or confirm analysts' estimates or to update any forward-looking statement to reflect events or circumstances after the date of this report.

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