Visteon
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- Timothy D. Leuliette
Visteon is an automotive supplier that was spun off in June 2000 from the Ford Motor Company. The corporate headquarters is located since 2005 in Van Buren Township, Michigan in the United States. Visteon is listed on the NYSE stock exchange in New York with the ticker symbol VC.
Visteon is to the Ford Motor Company as the Delphi Corporation to General Motors and Denso to Toyota, there are in all cases to certain kinds of production of a car manufacturer that has been converted for different reasons in an independent company. The company Visteon had about 70,000 employees worldwide in more than 200 offices and posted sales of USD 18.7 billion.
Since the spin-off from Ford in 2000, Visteon has set a corporate goal the expansion of business with other automakers and now maintains good business relationship with General Motors, Chrysler and some Asian manufacturers such as Nissan and Hyundai.
On September 13, 2005, Visteon and Ford have agreed to divest 17 of the less profitable Visteon factories and six branch offices in an independent company with the company 's Automotive Components Holdings LLC. This results in the transition of 18,000 temporary and 5,000 permanent employees resulted in the new company.
On the other hand remained 52,000 employees and 11 billion USD in sales at Visteon. Three of the manufacturing operations are located in Mexico, 17 factories and six branch offices in the United States.
In 2006, Visteon occupied together with the SchmitterChassis 1st place of the renowned Steel Innovation Award for the " integral steel housings for steering gear ".
On 28 May 2009, Visteon filed bankruptcy in the form of Chapter 11 on for its U.S. business. By Restruktionierungsmaßnahmen Chapter 11 could be left on 1 October 2010 with improved financial structure.