Visteon Progresses Restructuring Through Sale of Indian Powertrain Business

Visteon Progresses Restructuring Through Sale of Indian Powertrain Business

September 05, 2007

    CHENNAI, India, Sept. 5 /Xinhua-PRNewswire/ -- Visteon
Corporation (NYSE: VC) announces that it has completed the
sale of Visteon Powertrain Control Systems India (VPCSI) in
Chennai to Adyar River Ltd. This transaction is another
restructuring action the company has achieved to improve
its business.

    ( Logo:
http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO )

    The agreement covers the VPCSI operation in Chennai
which manufactures starters and alternators for global car
makers. The transaction supports the company's strategy to
invest proceeds from the sale of non-core assets in its
market-leading businesses. Employees in the operation will
continue to be employed as part of the transaction. Terms
of the agreement were not disclosed.

    "This is another accomplishment in the process of
restructuring our business to focus on our key products and
core technologies," said Donald J. Stebbins, Visteon
president and chief operating officer. "With this
sale, our restructuring program is now more than 50 percent
complete, and this gives us even more flexibility to improve
and grow our business."

    For more than seven years, Visteon, a leading supplier
of automotive climate control systems, interiors and
electronics, has had a significant presence in India where
it continues to expand and grow. Today the Visteon India
footprint includes four manufacturing plants and two
technical centers, employing more than 2,000 people. India
is an important part of Visteon's expansion in Asia, the
fastest growing automotive market in the world. Visteon has
55 facilities and 38 manufacturing plants in Asia, which the
company expects to become its largest region by 2009,
generating nearly 50 percent of its revenue.

    Visteon Corporation is a leading global automotive
supplier that designs, engineers and manufactures
innovative climate, interior, electronic and lighting
products for vehicle manufacturers, and also provides a
range of products and services to aftermarket customers.
With corporate offices in Van Buren Township, Mich. (U.S.);
Shanghai, China; and Kerpen, Germany; the company has
facilities in 26 countries and employs approximately 43,000
people.

    Adyar River Limited is a joint venture between Argyle
Street Management Limited and Leticia Investments Corp.
Founded in 2002, the principal business of Argyle Street
Management Limited (ASM) is management of funds investing
in special situations in Asia. Argyle manages approximately
US$800 million of assets including equity and debt
instruments as well as real estate investments under ASM,
Asia Recovery Fund (ARF), ASM Hudson River Fund (HRF),
certain property fund and discretionary accounts. Argyle's
funds will be investing in Adyar through ARF and HRF.
Leticia Investments Corp. has been actively investing and
building businesses in India for more than 15 years in both
the manufacturing and services sectors.

    NOTE TO EDITORS: 

    Visteon news releases, photographs and product
specification details are available at
http://www.visteon.com 


    For more information, please contact:

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     Alison Wright
     Director Communications Asia
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     Jim Fisher
     Director Corporate Communications
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    Investors

     Derek Fiebig
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