Visteon Corporation

Key facts

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Company overview

Visteon is a well known supplier of automotive systems, modules and components to vehicle manufacturers and the automotive aftermarket. The company primarily operates in North America and Europe. It is headquartered in Van Buren Township, Michigan and employs 45,000 people.

In September 2005, the company transferred 23 of its North American facilities, certain other related assets and liabilities to Automotive Components Holdings (ACH), a wholly owned subsidiary of the company. In the following month, the company sold all of the capital stock of ACH to Ford in exchange for Ford’s payment of approximately $300 million. The ACH accounted for approximately $6.1 billion of the company’s total product sales for 2005.

The company recorded revenues of $11,418 million during the fiscal year ended December 2006, a decrease of 32.7% over 2005*. The operating profit of the company was $7 million during fiscal year 2006 compared with the operating loss of $66 million in 2005. The net loss was $163 million in fiscal year 2006 compared with the net loss of $270 million in 2005.

*The company’s total revenues of $16,976 in 2005 also include the revenues of its discontinued operations (ACH).

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