Visteon Corp. already has turned 23 plants back over to Ford Motor Co., but the restructuring has not stopped yet.
The auto supplier, which posted a $200 million loss in the third quarter on sales of $2.6 billion, has identified another 20 facilities as underperforming or nonstrategic to its long-term plans.
Visteon also wants to continue talks with suppliers to cut costs.
``We know we need to take additional actions to get the company where it needs to be,'' Chief Executive Officer Mike Johnston said in a Nov. 8 conference call.
The company, headquartered near Detroit in Van Buren Township, Mich., completed a deal with former parent Ford earlier this year that sent nearly two dozen facilities into a holding company under Ford's control. The Dearborn, Mich.-based automaker also has agreed to pay into a pool of $550 million for continued restructuring costs.
Visteon is focusing on areas including electronics and interiors.
The company has not revealed which 20 plants it has targeted for action, but noted at least some of them are in North America. It said it will provide more information in January.
Talks with suppliers, meanwhile, are continuing on a global basis to find what Chief Financial Officer Jim Palmer said should be ``significant opportunities for improvements.''