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Visteon Corp

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BUSINESS
January 23, 2001
* Auto parts suppliers Delphi Automotive Systems Corp. and Visteon Corp. said they will temporarily lay off a combined 10,300 hourly workers this week, given auto makers' production cuts amid softened U.S. vehicle sales.
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BUSINESS
January 12, 2006 | From Associated Press
Auto parts supplier Visteon Corp. plans to close three plants and put six up for sale under a restructuring plan announced Wednesday that could affect as many as 23 of its facilities worldwide. It is the second major restructuring in two years for Visteon, which transferred 23 North American facilities back to former parent Ford Motor Co. last year in an effort to avoid filing for bankruptcy protection.
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BUSINESS
January 20, 2001 | Bloomberg News
Visteon Corp. said its profit dropped 67% in the fourth quarter to $31 million, or 23 cents a share, because of a production decline at former parent Ford Motor Co. and price cuts. The results beat the average analyst forecast of 19 cents, according to First Call/Thomson Financial. Sales declined 4.2% to $4.5 billion, in part because Visteon gave Ford a 5% price cut as part of its separation in June.
BUSINESS
April 5, 2001 | Bloomberg News
Auto-parts maker Visteon Corp. said it will eliminate about 1,800 jobs worldwide, including 12% of its salaried work force, as vehicle production slows. The jobs include about 950 salaried U.S. workers, a spokeswoman said. Visteon said it will take a charge of about $135 million in the first quarter for the job cuts, which represent about 2.2% of its total work force. Parts demand has fallen amid production cuts by American auto makers. Rival Delphi Automotive Systems Corp.
BUSINESS
April 5, 2001 | Bloomberg News
Auto-parts maker Visteon Corp. said it will eliminate about 1,800 jobs worldwide, including 12% of its salaried work force, as vehicle production slows. The jobs include about 950 salaried U.S. workers, a spokeswoman said. Visteon said it will take a charge of about $135 million in the first quarter for the job cuts, which represent about 2.2% of its total work force. Parts demand has fallen amid production cuts by American auto makers. Rival Delphi Automotive Systems Corp.
BUSINESS
January 12, 2006 | From Associated Press
Auto parts supplier Visteon Corp. plans to close three plants and put six up for sale under a restructuring plan announced Wednesday that could affect as many as 23 of its facilities worldwide. It is the second major restructuring in two years for Visteon, which transferred 23 North American facilities back to former parent Ford Motor Co. last year in an effort to avoid filing for bankruptcy protection.
NATIONAL
September 16, 2003 | From Times Wire Reports
The United Auto Workers announced that it reached tentative contract agreements with Ford Motor Co. and auto supplier Visteon Corp., leaving General Motors Corp. as the only Big Three auto maker still in labor talks with the union. The union and DaimlerChrysler AG's Chrysler Group have reached a tentative, four-year contract deal. Details of the agreements were not released.
BUSINESS
September 18, 2008 | From Times Wire Services
Northrop Grumman Corp., the world's largest warship builder, appointed Karl Krapek, former president and chief operating officer of United Technologies Corp., to its board. Krapek retired from United Technologies in 2002 after serving 20 years in various management positions, Century City-based Northrop said. He is also a director of Connecticut Bank & Trust Co., Alcatel-Lucent, Prudential Financial Inc. and Visteon Corp.
BUSINESS
February 14, 2007 | From Bloomberg News
Northrop Grumman Corp. gave President Wesley Bush the additional title of chief operating officer and named James Palmer as chief financial officer. Palmer, who replaces Bush in the role of finance chief, most recently served as CFO of auto-parts maker Visteon Corp., Century City-based Northrop said.
BUSINESS
September 14, 2005 | From Bloomberg News
Ford Motor Co. reached a final agreement to take back 23 plants and offices to help former parts unit Visteon Corp. cut costs. The facilities will be transferred Oct. 1 to a Ford-managed entity, with most of them to be prepared for sale, the Dearborn, Mich.-based automaker said. Visteon, which reported $1.1 billion in costs in the second quarter after the initial agreement in May, said it expected a gain "well in excess" of that amount when the transaction closed.
BUSINESS
January 23, 2001
* Auto parts suppliers Delphi Automotive Systems Corp. and Visteon Corp. said they will temporarily lay off a combined 10,300 hourly workers this week, given auto makers' production cuts amid softened U.S. vehicle sales.
BUSINESS
January 20, 2001 | Bloomberg News
Visteon Corp. said its profit dropped 67% in the fourth quarter to $31 million, or 23 cents a share, because of a production decline at former parent Ford Motor Co. and price cuts. The results beat the average analyst forecast of 19 cents, according to First Call/Thomson Financial. Sales declined 4.2% to $4.5 billion, in part because Visteon gave Ford a 5% price cut as part of its separation in June.
BUSINESS
January 4, 2001 | P.J. Huffstutter
Extending the reach of digital music, Los Angeles start-up PhatNoise Inc., which makes a removable MP3 jukebox for the car, is expected to announce a licensing deal today with the nation's second-largest auto parts supplier, Visteon Corp. Financial details were not disclosed, but officials with both companies say the agreement is part of an industrywide push to meet consumer demand to play digital tunes in the car.
BUSINESS
November 1, 2006 | From Bloomberg News
Visteon Corp., the auto parts maker spun off from Ford Motor Co., said its third-quarter loss narrowed because of reduced expenses and announced plans to cut 900 salaried jobs in the U.S. and Europe. The company, based in Van Buren Township, Mich., said its net loss shrank to $177 million, or $1.38 a share. That compared with a deficit of $207 million, or $1.64, a year earlier. Visteon, which trimmed expenses by shifting some operations to Ford in October 2005, said revenue fell 36% to $2.
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