BNET Industries

Visteon Corp.

(VC) is in the Auto Industry

Last Fiscal Year Sales:$11.2B

Public
US

Dow Jones Description

Visteon Corporation (Visteon or the Company) is a leading global supplier of automotive systems, modules and components to global vehicle manufacturers (OEMs) and the automotive aftermarket. The Company is headquartered in Van Buren Township, Michigan, has a workforce of approximately 33,500 employees and has a network of manufacturing sites, technical centers, sales offices and joint ventures located in every major geographic region of the world. The Company was incorporated in Delaware in January 2000 as a wholly-owned subsidiary of Ford Motor Company (Ford or Ford Motor Company). Subsequently, Ford transferred the assets and liabilities comprising its automotive components and systems business to Visteon. The Company separated from Ford on June 28, 2000 when all of the Companys common stock was distributed by Ford to its shareholders. In September 2005, the Company transferred 23 of its North American facilities and certain other related assets and liabilities (the Business) to Automotive Components Holdings, LLC (ACH), an indirect, wholly-owned subsidiary of the Company. On October 1, 2005, the Company sold ACH to Ford for cash proceeds of approximately $300 million, as well as the forgiveness of certain other postretirement employee benefit liabilities and other obligations relating to hourly employees associated with the Business and the assumption of certain other liabilities (together, the ACH Transactions). ...

Number of Employees 11,000

Contact Information

1 Village Center Dr

Van Buren Township, Michigan 48111

visteon.com

(313) 755-2800

Peer Companies

NAICS Code All Other Motor Vehicle Parts Manufacturing: 336399

Company News

Recent Events

VAN BUREN TOWNSHIP, Mich., Oct. 28, 2009 /PRNewswire-FirstCall/ -- Third Quarter Summary -- Product sales...

10/28/09 - Financial Announcement - View Story
Chrysler to pay Visteon as it exits businesses

10/05/09 - Joint Venture / Alliance - View Story
Visteon Corporation Names General Counsel

9/24/09 - Mgmt. Change Entering - Vice President - View Story
Business news briefs: Visteon to give up contracts

10/03/09 - Joint Venture / Alliance - View Story
Auto parts maker Visteon taps new general counsel

9/18/09 - Mgmt. Change Entering - Legal - View Story
Visteon to close Eureka plant; loss of 94 jobs

9/25/09 - Bankruptcy Filings - View Story
Local Protesters Target Crumbling Visteon

8/14/09 - Bankruptcy Filings - View Story
Retirees fight Visteon

8/14/09 - Financial Announcement - View Story
Intermap Technologies Reports Second Quarter Financial Results

8/06/09 - Joint Venture / Alliance - View Story
HVAC Control reduces system complexity in vehicles.

7/29/09 - Product Announcement - View Story
Statement from Visteon Corporation Welcoming General Electric to Van Buren Township

6/26/09 - Planned Site Openings - View Story
Deadline looms for Carbon

6/26/09 - Bankruptcy Filings - View Story
Weak bank stocks drag Dow lower

6/17/09 - Bankruptcy Filings - View Story

News & Analysis

fitch and visteon corp. - All News and Analysis

Fitch Affirms Visteon's IDR at 'CCC'; Outlook Negative

- 2008-06-06

NEW YORK -- Fitch Ratings has affirmed Visteon Corporation's Visteon ratings as follows:

Tags: Fitch, Microsoft Outlook, Visteon Corp.
Fitch Affirms Visteon's Amended Bank Facility at 'B/RR1'; Downgrades Sr Unsec'd to 'CC/RR6'

- 2007-04-05

CHICAGO -- Fitch Ratings has taken the following actions regarding the ratings of Visteon Corp. VC:

Tags: bank, Fitch, Visteon Corp.
Fitch 2007 U.S. Automotive Supplier Outlook: Stuck In Reverse

- 2006-12-06

CHICAGO -- In 2007, the U.S. automotive supply industry will continue to face substantial challenges. As in 2006, declining OEM unit volume and mix issues, pricing pressure and sustained high raw material costs will continue to constrain cash flow across the sector. This will also limit any improvement in balance...

Tags: Fitch, Ford Motor Co., General Motors Corp., MARKETING, OEM, revenue, supplier, Visteon Corp.
Fitch Comments on Visteon

- 2006-08-18

SAN FRANCISCO -- The announcement by Ford regarding significant cutbacks to the fourth quarter production schedule should adversely affect Visteon's operating and cash flow performance for 2006. Although Visteon continues to reduce its exposure to global Ford production volumes, financial results over the near term will remain leveraged to Ford...

Tags: Fitch, Ford Motor Co., Visteon Corp.
Fitch Affirms & Removes Visteon from Rating Watch Positive

- 2005-11-23

CHICAGO -- Fitch Ratings has affirmed and removed from Rating Watch Positive the following ratings for Visteon Corporation:

Tags: Fitch, Visteon Corp.

Fitch Revises Rating Watch on Visteon to Positive

- 2005-05-25

CHICAGO -- Fitch Ratings has revised the Rating Watch on Visteon Corporation's 'B' senior unsecured debt rating to Positive from Negative following the announcement that Visteon and Ford Motor Co. have reached an agreement on the restructuring of Visteon. If the agreement is finalized as proposed, Visteon would have a...

Tags: Fitch, Visteon Corp.
Visteon Lowered to 'B' by Fitch Ratings; Remains on Rating Watch Negative

- 2005-04-21

CHICAGO -- Fitch Ratings has lowered the ratings of Visteon Corporation Visteon as follows: -- Senior unsecured and bank debt to 'B' from 'BB'. Fitch also maintains the Rating Watch Negative status on Visteon. In the absence of a final agreement with Ford, Visteon is increasingly exposed...

Tags: Fitch, Ford Motor Co., Visteon Corp.
Fitch: Visteon Agreement Shows Commitment to Improve Cash Flows

- 2005-03-11

CHICAGO -- The agreement reached today between Ford Motor Company and Visteon demonstrates that both companies see the need to address the significant cash drains occurring at Visteon. The agreement also acknowledges, as expected, that Visteon remains a significant financial burden on Ford. Fitch has previously incorporated into the ratings...

Tags: agreement, FINANCE, financial, Fitch, Ford Motor Co., Visteon Corp.