Automotive supplier Visteon Corp. has signed an agreement to sell its interiors plant in Berlin to APCH Automotive Plastic Components Holding GmbH, in a move it says “effectively results in a management buyout.”
Visteon in 2014 divested the majority of its interiors business to Dutch firm Reydel Automotive Holdings BV; the non-core Berlin plant is the supplier's only remaining interiors operation. The company said it will turn its focus to its automotive cockpit electronics business.
APCH will be led by Mark Blair, formerly a plant manager at the Berlin plant, according to a news release. The plant employs 400.
Visteon is based in the Detroit suburb of Van Buren Township. The sale is effective Dec. 1.