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Valeo: finalises acquisition of FTE Automotive.

(CercleFinance.com) - On Tuesday evening Valeo announced finalising the acquisition of FTE Automotive, a leader in the production of actuators, after obtaining the permission from the European Commission and Turkish regulatory authorities.

This deal will enable the French automotive component manufacturer to extend its offer of active hydraulic actuators, a strategic market that benefits from strong growth, particularly given the strong development of hybrid and electric vehicles. In addition, it will be accretive impact on its operating margin from the first year.

Last year FTE Automotive's revenues reached 550 million euros.

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