Visteon Signs Agreement to Sell Interiors Operation in Germany

VAN BUREN TOWNSHIP, Mich., Oct. 30, 2015 /PRNewswire/ -- Visteon Corporation (NYSE: VC) has signed an agreement to sell its non-core automotive interiors plant in Berlin, currently held by  Visteon Deutschland GmbH and APTUS GmbH, to APCH Automotive Plastic Components Holding GmbH (APCH), effective Dec. 1. This marks the sale of Visteon's only remaining interiors operation not covered by the 2014 divestiture of the interiors business to Reydel Automotive Holdings B.V., as Visteon focuses on its automotive cockpit electronics business.

APCH will be led by Mark Blair, a former plant manager of the Berlin interiors manufacturing plant. The transaction, which is subject to certain closing conditions, effectively results in a management buyout of the manufacturing operation, including the operation's approximately 400 employees, in support of its customers. Terms were not disclosed.

This transaction has no impact on Visteon electronics facilities in Germany.

About Visteon

Visteon is a global company that designs, engineers and manufactures innovative cockpit electronics products and connected car solutions for most of the world's major vehicle manufacturers. Visteon is a leading provider of driver information and controls, audio and infotainment, and domain controllers; its brands include Lightscape®, OpenAir® and SmartCore™. With corporate offices in Van Buren Township, Michigan, (U.S.); Shanghai, China; and Chelmsford, UK; Visteon has more than 11,000 employees at 50 facilities in 21 countries. Visteon had sales of $2.6 billion in 2014. Learn more at www.visteon.com.

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SOURCE Visteon Corporation