UPDATE 1Visteon sells noncore North American aftermarket units
(Recasts; adds background)
Feb 1 (Reuters) - Visteon Corp (VC.N: Quote, Profile, Research) sold its non-core
North American aftermarket facilities to Centrum Equities XV
LLC, an affiliate of Centrum Properties Inc, as part of the
auto-parts maker’s business restructuring plan.
Specific terms of the transaction were not disclosed.
The operations sold include a manufacturing plant in
Sparta, Tennessee, and two plants in Reynosa, Mexico. However,
the sale does not include aftermarket mobile electronics
products, which the company maintains as part of its
electronics group, the company said in a statement.
In January, the company had said it expected continued
significant restructuring in 2008, and profitability in 2010,
when sales will be lower because of divestitures and closures.
Car makers and analysts mostly expect North American sales
and production will decline in 2008, due to a slowdown in the
U.S. economy.
(Reporting by Purwa Naveen Raman in Bangalore; Editing by
Pratish Narayanan)
