Press Release 07 Nov 2014

Galway,   November 7th  2014  –  Valeo  Vision  Systems, part of one of the world’s leading  automotive  suppliers, today announced that it intends to continue its  expansion in Tuam, Co. Galway with the creation of up to 140 permanent jobs  in  R&D  and  Operations across 2014 and 2015. The investment is well underway  and  is  supported  by  the  Department  of  Jobs, Enterprise and Innovation through IDA Ireland.

Today’s  announcement by Valeo Vision Systems would bring  the total employed at the facility to almost 750 permanent jobs. This growth is to meet continued automotive  customer  demand  and to further develop next generation vision systems  for Valeo’s global market. Valeo plays a leading research role in vision systems with 350 people employed in its dedicated R&D centre.

Welcoming today’s announcement, An Taoiseach said, “The expansion of Valeo is great news for Galway and the West of Ireland and will see the company's workforce grow towards 750 jobs.  The Government's plan is to support ambitious and motivated businesses like Valeo to expand and create jobs. The Government is on course through its Action Plan for Jobs to exceed our target of creating 100,000 new jobs by 2016".

Minister  for  Jobs,  Enterprise  and  Innovation,  Richard  Bruton TD said “Manufacturing  is  a  key  sector  we have targeted in our Action Plan for Jobs. Over the past decade some people wrongly assumed that Ireland did not have  a future in manufacturing and the sector suffered from some neglect – but  in  recent years we have provided new supports for the sector and have seen the  benefits.  Today’s  great  announcement by Valeo is a great example of what  can  be  achieved  in  this  sector. Here is a world-leading company, carrying  out  R&D  in a regional town, developing cutting edge new systems and processes, and creating large numbers of high-end manufacturing jobs as a  result.  I congratulate Valeo on this major jobs boost, and look forward to working with them in the future”.

Commenting on the VVS expansion, Fergus Moyles Director, Valeo Vision  Systems said: “This investment is a result of the market response to our  innovative  products  and reflects the continued and growing demand in Driving Assistance vision systems”.

“This investment is a result of the market response to our  innovative  products  and reflects the continued and growing demand in Driving Assistance vision systems”.

Fergus Moyles Director, Valeo Vision  Systems

Welcoming  today’s  announcement,  Martin  Shanahan, CEO IDA Ireland said: “Valeo  Vision  Systems is an excellent example of a company that continues to  undergo  significant  transformation  in  Ireland.  Valeo’s decision to expand  its  workforce  by  a further 140 people is great news for the West Region  and  for  Ireland, creating top-level career opportunities in Tuam and Galway.   I  would  like  to  offer Valeo the continued support of IDA in implementing their plans in Galway.”

About Valeo
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 and intuitive driving.  Valeo ranks among the world's top automotive suppliers. The Group has  123  plants,  20  Research  centres,  35  Development  centres  and 12 distribution   platforms,   and  employs  75,300  people  in  29  countries worldwide.  In  2012, Valeo generated revenue of €11.8 billion and invested €1 billion in research and development.

For more information about the Valeo Group and its businesses, please visit www.valeo.com


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IDA Ireland – Fidelma Geraghty, Media Executive, +353-87-6548347

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