Visteon Plans New Manufacturing Facility in Slovakia
October 13 2004 - 9:00AM
PR Newswire (US)
Visteon Plans New Manufacturing Facility in Slovakia KERPEN,
Germany, Oct. 13 /PRNewswire-FirstCall/ -- Visteon Corporation
(NYSE:VC) announced today that it has committed to investing in a
new manufacturing facility in Nitra, Slovakia, to support new
business with Kia and PSA Peugeot Citroen. (Logo:
http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO ) Visteon's
new site, representing an investment of up to 40 million euros
(approximately $49 million U.S.), will support the vehicle
manufacturers' strategy to assemble future vehicles in Slovakia.
The facility will manufacture automotive interiors and climate
control systems. Production is scheduled to begin in the spring of
2006, and the site is expected to eventually house about 400
employees. "Recent new business wins gave us the opportunity to
review our European manufacturing base and evaluate how to best
serve future business with car makers located in Central Eastern
Europe," said Karl Krause, Visteon's vice president of
manufacturing, Europe and South America. "The stable Slovakian
business environment, the proximity of customer manufacturing
operations, and the cooperation of the Slovakian government
contributed to our decision to invest in Nitra." The Ministry of
Economy of the Slovakian Republic and the Slovak Investment and
Trade Development Agency (SARIO) welcomed Visteon's decision to
enter the Slovak market. In June 2004, Visteon entered into a
memorandum of understanding with the Ministry of Economy regarding
grants for the future investment in Nitra. "SARIO is very happy
that the interest of automotive suppliers to invest in Slovakia has
been rapidly growing. Visteon's expansion into Slovakia will help
accelerate the growth of our automotive industry," said Roman
Kuruc, corporate executive officer of SARIO. The city of Nitra is
situated about 80 kilometers (approximately 50 miles) northeast of
the Slovakian capital of Bratislava. Slovakia became a member state
of the European Union in May of this year. Visteon currently
operates 11 technical, manufacturing, sales and service facilities
in three Central Eastern European Countries. Visteon has plants in
Czech Republic (Novy Jicin, Rychvald and Hluk), Poland (Praszka and
Poznan) and Hungary (Szekesfehervar) for the manufacture and
assembly of products including automotive lighting, climate
control, powertrain, chassis, and electronics components and
systems. Visteon Corporation is a leading full-service supplier
that delivers consumer-driven technology solutions to automotive
manufacturers worldwide and through multiple channels within the
global automotive aftermarket. Visteon has about 72,000 employees
and a global delivery system of more than 200 technical,
manufacturing, sales and service facilities located in 25
countries. http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO
DATASOURCE: Visteon Corporation CONTACT: Dolores Muniz, +49 2273
595 2828, , Britta Lange, +49 2273 595 2667, , or Jim Fisher,
+1-313-755-0635, , all of Visteon Corporation Web site:
http://www.visteon.com/
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