(Adds CEO and analyst comments, details, background)
By Laurence Frost
PARIS, March 16 (Reuters) - Valeo is open to acquisitions to bolster its product offerings in high-growth areas such as fuel efficiency and autonomous driving, the French car parts maker said on Monday.
While the main focus is building up its existing activities, Valeo told an investor meeting it would seek an "active role in potential consolidation" among auto suppliers.
"We are open to bring new growth levels or reinforce our main successful product lines if we find acquisitions that bring us technology, (new) growth levels and worldwide leadership," Chief Executive Jacques Aschenbroich said.
Paris-based Valeo is pushing into fast-selling hybrid technologies, which help cut fuel consumption and CO2 emissions, as well as connected and self-driving cars.
Under a deal announced on March 11 with Mobileye, Valeo will use the Israeli tech company's image processors in autonomous driving and collision-avoidance applications.
In a presentation published before the meeting, Valeo pledged to outgrow global vehicle production by 5 percentage points annually, increasing sales to 20 billion euros ($21 billion) in 2020 from 12.7 billion last year.
It also plans to increase its Asian presence and raise the operating margin from 7.2 percent to 8 percent in 2017.
Valeo shares had risen 5.9 percent in the week preceding the meeting and were up a further 1.4 percent at 91.85 euros as of 1105 GMT on Monday, valuing the company at 11.3 billion euros.
The bullish goals are an "indicator of product dynamism", Citi analyst Philip Watkins said. "With an order book up 18 percent year-on-year, Valeo remains ... a solid growth stock."
Any future acquisitions would respect "very strict financial discipline", the Valeo CEO also told analysts, in order to protect Valeo's investment grade and shareholder returns. ($1 = 0.9497 euros) (Editing by Jason Neely and David Holmes)