Visteon Completes Sale of India Interiors Operations to Reydel Automotive Holdings B.V.

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Dec 01, 2014, 04:05 ET

VAN BUREN TOWNSHIP, Mich., Dec. 1, 2014 /PRNewswire/ -- Visteon Corporation (NYSE: VC) has completed the sale of its interiors operations in India to Reydel Automotive Holdings B.V. The transaction is part of the previously announced divestiture of the majority of Visteon's interiors business to Reydel. Other interiors transaction closings with Reydel are expected to be completed by the end of the first half of 2015, with timing dependent on government approvals.

The India interiors operations sold to Reydel Automotive include all manufacturing operations in Pune and Visteon's interiors business in Chennai, although Visteon retains the Chennai facility itself. The operations acquired by Reydel Automotive have approximately 550 employees and produce instrument panels, door panels, floor consoles and other plastic trim parts for various vehicle manufacturers.

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. Visteon owns 70 percent of Halla Visteon Climate Control Corp., the world's second largest provider of vehicle thermal management solutions. 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.

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SOURCE Visteon Corporation