Visteon says employees to stay put at U.S. HQ

Dustin Walsh

Published: January 14, 2013 6:00 am ET

Related to this story

Topics Automotive, Mergers & Acquisitions, Injection Molding

DETROIT (Jan. 14, 11 a.m. ET) — Despite a deal that will consolidate its climate business in Asia, Visteon Corp. says employees at its headquarters in suburban Detroit will stay put.

Visteon announced this week that the South Korea-based joint venture Halla Climate Control Corp. will buy the supplier’s automotive climate business. Visteon owns 70 percent of Halla Climate.

Once consolidated, the joint venture will be renamed Halla-Visteon Climate Group and led by a Korean management team and traded on the Koreas stock exchange.

However, Visteon’s 300 employees supporting the climate control business will remain here, Jim Fisher, director of corporate communications, wrote in an email.

Visteon’s 400 employees at its Halla Climate plant in Alabama also will stay put under the deal, he said.

“While the Visteon employees supporting climate in Michigan will now be supporting Halla Visteon Climate Control (once the transaction is completed), they will remain based at the (Michigan) facility serving customers as they do today,” Fisher wrote in the email. “As long as Visteon serves customers in the U.S., we require resources in the U.S. to support those customers.”

The supplier also expects to sell its stake in the Chinese joint venture Yanfeng Visteon Automotive Trim Systems Co. Ltd., Visteon CEO Tim Leuliette said in an October 2012 interview.

Leuliette said the Southeast Michigan headquarters would remain at least a technical center, but he would not speculate whether it would remain Visteon’s global headquarters.

“We don’t have a huge presence in Southeast Michigan today; it’s just basically our headquarters, and we have some U.S. debt and some unfunded pension,” Leuliette said then. “We’re asking the question, ‘Where’s the best place for us to be?’”

Visteon’s headquarters currently houses 830 employees, Fisher said.


Comments

Visteon says employees to stay put at U.S. HQ

Dustin Walsh

Published: January 14, 2013 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Faurecia Seating grows in Kentucky

September 12, 2014 12:00 pm ET

Faurecia Seating LLC, a division of French-based Faurecia SA, will build a new manufacturing facility in Simpsonville, Ky.    More

Image

Germany's Lehmann & Voss buys U.S.-based Performance Compounding

September 12, 2014 11:36 am ET

German compounding firm Lehmann & Voss & Co. KG has acquired Performance Compounding LLC for an undisclosed price.    More

Image

Behr-Hella set to open Bulgarian auto parts plant

September 12, 2014 10:20 am ET

German automotive components manufacturer Behr-Hella Thermocontrol (BHTC) is set to launch a new 22 million euro ($28.4 million) vehicle air...    More

Image

ATS goes global with acquisition of M+W Process Automation

September 10, 2014 2:49 pm ET

ATS Automation Tooling Systems Inc., a maker of factory automation systems in Cambridge, Ontario, has agreed to buy a German company M+W Process...    More

Image

DS Smith adds to footprint with Croatian injection molding acquisition

September 10, 2014 2:05 pm ET

DS Smith plc, the London-headquartered packaging giant, has announced the acquisition of Kaplast dd, a Croatian injection molding company.    More

Market Reports

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Pipe, Profile & Tubing Extrusion in North America 2014

U.S. demand for extruded plastics is expected to grow by 3 percent in 2014, with PVC remaining the largest segment.

Plastic pipe will post the strongest gains through 2018, continuing to take market share from competing materials in a range of markets.

Our latest market report provides in-depth analysis of current trends and their financial impact on the pipe, profile and tubing extrusion industry in North America.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

More Events