Visteon sells Halewood facility to IAC Europe

Sep 01, 2008 (Datamonitor via COMTEX) -- VC | Quote | Chart | News | PowerRating -- Visteon, a supplier of automotive systems, modules and components to vehicle manufacturers, has sold its Halewood, UK, facility to International Automotive Components Group Europe, an automotive supplier for interior trim, carpet and acoustics systems, and exterior trim.

The Halewood facility is dedicated to the assembly and sequencing of cockpit systems and consoles to Jaguar Land Rover's Halewood operation.

Under the business purchase agreement, Visteon will transfer the assembly facility and associated assets including purchase and supply contracts to International Automotive Components Group Europe (IAC Europe). The nearly 150 employees currently employed at the facility will also transfer to the new owner.

Donald Stebbins, president and CEO of Visteon, said: "Following the recently announced customer agreements and the Swansea plant sale, the divestiture of our Halewood facility marks another important step in improving the financial performance of our UK operations."

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