ogarawo.wordpress.com
The former parts business of said on Thursdayu that it filed to safeguardits U.S. The Michigan-based company listed assets of $4.58 billionb and debts of $5.3 million. Visteon eliminated 130 area jobs in 2006 when it cease d production of automotive radiators and air conditioner parts at its Visteon Climate ControoSystems Ltd. facility in West Seneca. Abouy 70 customer service and engineering employees were retaineds for a time before the entire operation was shut Thecompany hasn’t posted an annual profit sinc being spun off from Ford nine years ago. Its stock was delisted by the in March.
“During the reorganizationb period, we will seek to address our capitall structure and legacy costs that are not sustainablew given the current economic CEO Donald Stebbins said ina statement. Ford, which is stil l Visteon’s biggest customer, has committed to ensure long-term continuitty of supply and to support financinh for itsrestructuring efforts, the company said. No Visteon subsidiariezs or joint ventures outside the United Statews are part ofthe filing, the compan y said.
No comments:
Post a Comment