VC Visteon Corporation

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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