Visteon Opens World-Class China Technical Center in Shanghai
17 November 2005 - 1:00AM
PR Newswire (US)
New facility will be center of excellence for automotive interiors
and electronics for Asia Pacific region SHANGHAI, Nov. 16
/PRNewswire/ -- Visteon Corporation (NYSE:VC) and Yanfeng Visteon
today celebrate the opening of the China Technical Center (CTC) in
Shanghai, bringing world-class automotive components development
and program management capabilities to the rapidly growing Chinese
automotive market. (Logo:
http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO ) The
center demonstrates Visteon's continued commitment to investing in
China and the Asia Pacific region; it marks another milestone in
the Yanfeng Visteon partnership between Shanghai Automotive
Industrial Cooperation (SAIC) and Visteon, a global automotive
supplier. The new CTC will be Visteon's center of excellence for
vehicle interior and electronics technologies for Asia Pacific and
a key element in Visteon's overall strategy to strengthen its
global engineering resources to support customers worldwide. It
will feature product development and lab facilities, as well as
significant testing capabilities to support interiors and
electronics for both global and regional applications. Mike
Johnston, Visteon chairman and chief executive officer, and Chen
Hong, SAIC president, joined government officials and other
dignitaries in inaugurating the CTC. "The new China Technical
Center will play a critical role in bringing world-class
technologies to China," Johnston said. "As a regional hub, it will
ensure expanded technical support to our Asian operations with the
aim of better serving our customers. The China Technical Center is
a key element in Visteon's continued growth in this region."
Located in Shanghai's CaoHeJing High Technology Park, the new CTC
includes an engineering and administration building, and an
adjacent testing and development building on 18,000 square meters
(about 200,000 square feet). The main building is designed to
accommodate 1,100 employees, including 650 technical professionals.
The 3,000-square-meter (33,000-square foot) test and development
building will house a design studio and a full range of electronic
and mechanical testing facilities. CTC will also serve as the
global electronics base for Visteon and the head office of Yanfeng
Visteon. The opening of CTC follows several strategic investments
made earlier this year by Visteon in the Asia Pacific region,
including: * Acquisition of a majority stake in Zhejiang Shaoxing
Betung Instrument Co., Ltd through Yanfeng Visteon Electronics Co.,
Ltd. (YFVE), Yanfeng Visteon Betung Automotive Instrumentation Co.,
Ltd; * Acquisition of Jiangsu Toppower Automotive Electronics Co.,
Ltd. together with Shanghai Automotive Industry Corporation (SAIC)
and Yanfeng Visteon Electronics Co., Ltd; * Joint venture with
ChangAn, China's third largest automaker -- Chongqing ChangAn
Visteon Engine Control Systems; * Joint venture with TYC Brother
Industrial Co., Ltd. -- Visteon TYC Auto Lamps Co., Ltd. For more
than 10 years, Visteon has been growing its presence in Asia
Pacific. Today, Visteon operates more than 30 manufacturing
facilities in the region located throughout China, Japan, Korea,
Thailand, the Philippines and India, serving global and regional
automakers. Visteon is a leader in delivering climate, interior and
electronics components and systems to customers in what has become
the fastest-growing automotive market in the world. Visteon
Corporation is a leading global automotive supplier that designs,
engineers and manufactures innovative climate control, 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 more
than 170 facilities in 24 countries and employs approximately
50,000 people.
http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO DATASOURCE:
Visteon Corporation CONTACT: Media Inquiries: Lisa Feng, +86 (21)
5208-1100, , or Elsie Hong, +86 (21) 6472-3788, , both of Visteon
Corporation Web site: http://www.visteon.com/
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