Normal gas emerging. This seems to be the new motto Aschenbroich Jacques, head of the automotive supplier Valeo. In an interview with Echos on Thursday, it announced a turnaround strategy that would push the group to increase the share of investment in these countries in two thirds of the total against 50% today. In his sights: China, India, South East or Turkey. "In 2013, automobile production in mature countries is less than or equal to the pre-crisis and we have the capacity to meet demand," justify "he said. This operation therefore tantamount to "minimize their investment in mature countries.
Jacques Aschenbroich sweeping indictment of any future relocation. "Valeo produces much more in France than it sells. And our research and development is mainly based in France, "says he.It benefits the transition to dent the French model: "What strikes me is that in ten years, the average hourly cost of France became higher than in Germany. It is a concern. "
Green energy and transfer program
In addition to this new direction for investment, the director of the OEM plans to put the package on green energy. According to him, "some 70% to 80%" of product lines will be affected. The group plans to focus on "vehicle electrification" or the "micro hybrid".
In this context, Valeo does not separate himself from some activities, after selling its range of weightings for lighthouses: "We are thinking whether we should we produce our own components or purchase them, which could result of disposals in the coming months, "explains Jacques Aschenbroich.The group envisages currently no acquisition, preferring to concentrate on organic growth.
Valeo, which aims a turnover of 10 billion euros in 2013 against 7.5 billion in 2009, also started to restructure its business through the elimination of the eleven branches and the creation of four main poles. A combination of flexibility resulting 600 job cuts on the 52,000 account that the group worldwide.
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Investors reacted to the record deficit released yesterday. The U.S. federal government announced after the close of Wall Street have posted a record budget deficit of 220.909 billion dollars in February, its seventeenth consecutive month in the red, according to figures released Wednesday by the Treasury Department in Washington. At the opening, the Nasdaq 100 and S & P 500 retreat respectively of 0.31% at 2,350 points from 0.24% to 1 143 points. The Dow Jones folds himself from 0.09% at 10,542 points.
The day before the stock markets had closed rather green, but no clear trend.On Wednesday, crude oil inventories rose last week in the U.S., but slightly below estimates, while those of gasoline and distillate products fell sharply, said Wednesday the U.S. Department of Energy ( DoE).
Inflation worries also Chinese
The downward trend is also due on Thursday by the Chinese inflation, which rose sharply. The index of consumer prices in China rose 2.7% yoy in February, bringing its rise since the beginning of the year at 2.1%. But to avoid a runaway, Beijing has already begun to tighten credit flowing.
Earlier this week, the employment numbers came out less bad than expected but the labor market remains very weak low fee payday loans . The unemployment rate remained steady at 9.7%, consistent with him, forecasts.
The rest of the week market in the United States will be under the sign consumer with the publication tomorrow of the sales details for the month of February and the preliminary estimate of consumer confidence.
General Motors will pay $ 8 billion
The values listed, General Motors will pay about $ 8 billion in the United States and Canada by June, ahead of schedule. The group observed a recovery in profitability faster than expected according to its director general.
Google (+0.34%) 578.4 dollars) still enjoys the presentation by Cisco (-0.36% to 25.8 U.S. dollars) in its new router, it will provide increased flows to households A key element for the activity distribution of video on the web from Google.
McDonald's has confirmed again and again his leadership.The giant U.S. fast food announced earlier this week that its worldwide sales rose 4.8% in February with a jump of 10.5% in Asia. The titles are perfectly balanced in the first exchanges.
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