Telecom Minister Opens New Branch of ’Valeo’ in Egypt’s Smart Village

Eng. Atef Helmy, Egyptian Telecom Minister will be opening today new building in Smart Village of France auto parts manufacturer Valeo company which comes in the light of the company’s expansion investments plan in the Egyptian market.

These fresh investment expansions are due to the increase of the company’s business volume in Egypt, as the areas of new building reached around 10 K square meters, and about 580 Egyptian specialized engineers are working in it.

The Minister has informed Amwal Al Ghad that the decision of Valeo to expand its business and investments in Egypt reflects the confidence of the global firms.

The company’s expansion plan within the coming three years includes increasing 150 engineers during one year, and within 2013 more than 800 K hours of work have been invested, the volume of software exports of the company’s branch in Egypt are around € 20 million for the global firms which produced auto parts.

The company’s plan included new fields such as Next Generation of Hybrid Cars , Cameras inside cars, Cars which work with running the driver’s smart phone via satellite.

It is worth mentioning that the engineers of Valeo Global are doing the training process at the Institute of Information Technology “ITI”, and attracts about 80% of the graduates of the of embedded software institute Department to work in the company.