Visteon Corporation
 |
|
| Public | |
| Traded as | : VC |
| Industry | Automotive industry |
| Founded | 2000 in Michigan, USA |
| Headquarters | Van Buren Township, Michigan, USA |
|
Area served
|
Worldwide |
|
Key people
|
Sachin Lawande (CEO) |
| Products | vehicle electronics, systems, modules, & components |
| Revenue | US$3.1 billion (2014) |
| Total assets | US$6.03 billion (2013) |
|
Number of employees
|
11,000(2014) |
| Website | visteon |
Visteon Corporation (VC) is an American global automotive electronics supplier and Fortune 500 company spun off from the Ford Motor Company in 2000. Visteon is composed of multiple businesses that design, engineer, and manufacture systems for various clients, including BMW, Daimler, Ford, and General Motors. Visteon trades on the .
Visteon is to the Ford Motor Company as Delphi is to General Motors and Denso is to Toyota. In 2013, Visteon had 7.439 billon dollars in sales with six billion in total assets and 24,000 employees operating worldwide. Since its independence from Ford, Visteon has set a corporate goal of expanding business with other companies, and now has substantial relationships with General Motors, Chrysler, and several Asian manufacturers including Nissan and Hyundai. Visteon's market share, market and revenue has changed substantially since it formed. A majority of revenue (80+%) came from North America, driven by its relationship with Ford Motor Company. Today, its revenue comes predominately from Asia, North America, and Europe. In 2005, Visteon moved to new headquarters in Van Buren Township, Michigan.
Traditionally, Visteon participated in three main divisions, namely: climate, electronics, and interior systems. With the sale of its equity interest in the Climate operations in mid-year 2015, Visteon re-focused on the high-growth cockpit electronics business with a focus on software and the connected car. At the same time, Visteon introduced Sachin Lawande as the new CEO to lead the next phase of company growth.
The company has three corporate offices reflecting the company's key markets.
Audio and Infotainment
Vehicle Electronics
Information and Controls
On September 13, 2005, Visteon and Ford reached an agreement whereby seventeen of the less-profitable Visteon plants and six offices would be transferred to an independent business entity called Automotive Components Holdings LLC. This action, intended to assure the long-term viability of Visteon, involved the transfer of 18,000 hourly workers and 5000 salaried workers to the new entity, reducing Visteon to approximately 52,000 employees worldwide and US$11 billion in annual sales. Three of the plants are in Mexico, the remaining plants and six offices are in the US. Automotive Components Holdings (ACH), managed by Ford, was referred to as a "temporary entity", as its purpose was to prepare the plants and facilities for sale. By the end of 2007, all ACH operations had been closed, scheduled for closure, merged at least partially, or sold (two back to Ford), with transactions to be completed by the end of 2008 except for one plant which is to remain an ACH facility until its closure in 2009.
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Wikipedia