Technology Drives Record Business Wins and Growth Prospects for Halla Visteon Climate Control

- Business wins with global automakers exceed $1.2 billion for HVCC in 2014

- Promising HV iCool™ technology integrates heating and cooling into single unit, creating more interior space and design flexibility for automakers

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Halla Visteon Climate Control Corp.

Dec 02, 2014, 06:55 ET

DAEJEON, South Korea, Dec. 2, 2014 /PRNewswire/ -- Halla Visteon Climate Control Corp. (KS: 018880), a full-line supplier of automotive thermal management solutions, expects 2014 to be a record year for new business awards and is introducing breakthrough technology that is expected to drive further growth.

HVCC reported recently that it expects incremental new business wins, combined with rewins of business awards that were up for renewal, to increase as much as 17 percent this year compared with 2013 – to between $1.2 billion and $1.4 billion. Driving this growth are high-quality products in the traditional heating, ventilation and air conditioning (HVAC); compressor; powertrain cooling; and fluid transport segments – as well as innovative thermal systems that support electric, hybrid and fuel cell vehicles.

"These new awards create a foundation for our future, as most of the business we have won this year will launch in the 2017-2020 time period," said YH Park, HVCC president and CEO. "I am particularly enthused that a broad range of global vehicle manufacturers are choosing to partner with HVCC, especially on future thermal management solutions."

HVCC plans to continue its growth by introducing "disruptive" technologies that have the potential to significantly change the way vehicles are designed, heated and cooled. The recently released HV iCool™ is a prime example and reflects the company's focus on eco-friendly and efficient solutions that deliver driver comfort.

HV iCool is the first integrated climate control system combining the HVAC, compressor and condenser into one unit. By design, HV iCool creates interior space by enabling the heating and cooling system to be located away from the instrument panel in non-traditional places such as under the driver's seat or in the luggage compartment. This patented technology is particularly appealing in electric vehicle applications with its potential to improve the vehicle drive range up to 30 percent (at 20 degrees C) by eliminating the electric heater – a significant electric current draw.

"Through new products such as HV iCool, HVCC is continuously focusing on technical development to quickly respond to the needs of the market today and tomorrow," Park said.

He added: "HVCC will finish 2014 with its strongest balance sheet ever, and is poised to explore various growth and new business opportunities in the future. With anticipated growth over the next two to three years, HVCC will continue to pursue value creation for customers and investors by rapidly bringing new, innovative products to the automotive market."

About Halla Visteon Climate Control
Halla Visteon Climate Control (HVCC) is a full-line supplier of automotive thermal management solutions. Products include heating ventilation and air conditioning; compressors; powertrain cooling; fluid transport; and electric, hybrid and fuel cell vehicle thermal systems. With 36 manufacturing sites supported by four global technical centers in 19 countries, HVCC employs nearly 15,500 people.

HVCC is a 70 percent-owned subsidiary of Visteon Corporation (NYSE: VC) and is traded on the Korea Stock Exchange. Learn more at www.hvccglobal.com.

About Visteon
Visteon Corporation is a global automotive supplier that designs, engineers and manufactures innovative products for nearly every vehicle manufacturer worldwide. Visteon delivers value for its customers and shareholders through two technology-focused core businesses: vehicle cockpit electronics and thermal energy management. With corporate offices in Van Buren Township, Mich. (U.S.); Shanghai, China; and Chelmsford, UK; Visteon has approximately 26,000 employees at facilities in 29 countries. Visteon had sales of $7.4 billion in 2013. Learn more at www.visteon.com

Forward-Looking Information

This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various factors, risks and uncertainties that could cause our actual results to differ materially from those expressed in these forward-looking statements. Caution should be taken not to place undue reliance on our forward-looking statements, which represent our view only as of the date of this release, and which we assume no obligation to update. New business wins and re-wins do not represent firm orders or firm commitments from customers, but are based on various assumptions, including the timing and duration of product launches, vehicle production levels, customer price reductions and currency exchange rates.

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SOURCE Halla Visteon Climate Control Corp.