Visteon to Create Jobs With New Manufacturing Plant in Eureka, Missouri, to Support Business Growth
21 June 2007 - 4:00AM
PR Newswire (US)
VAN BUREN TOWNSHIP, Mich., June 20, 2007 /PRNewswire-FirstCall/ --
Global automotive supplier Visteon Corporation (NYSE:VC) has begun
building a manufacturing and assembly facility in Eureka, Mo., to
support new business in North America with automakers including
Chrysler Group. The plant is expected to begin production in the
summer of 2008 and employ about 200 people by early 2009. (Logo:
http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO ) Visteon
officially launched the project today in a ceremony at the plant
site in Eureka Commercial Park, located along I-44 about 20 miles
southwest of St. Louis. The event was attended by representatives
of Visteon, the City of Eureka, the St. Louis County Economic
Council and the St. Louis Regional Chamber and Growth Association.
The Visteon plant initially will supply door panels, consoles and
cockpits to Chrysler Group's St. Louis North Assembly Plant.
Visteon President and Chief Operating Officer Donald J. Stebbins
said the new plant supports Visteon's three-year plan to
restructure, improve base operations and grow the business. "Our
significant business growth requires us to add strategic
manufacturing capacity, and we're pleased to be creating new jobs
in Missouri," Stebbins said. "This project demonstrates the
confidence our customers are placing in Visteon to meet their
quality, delivery and cost requirements for vehicle systems." The
new Missouri facility will use innovative manufacturing processes
designed to deliver interior products for in-sequence, just-in-time
installation in vehicles. Visteon's products and production
processes are designed to reduce tooling costs, cycle time and
scrap, while promoting recyclability. Julie Fream, vice president
of Visteon's North America customer groups, commended the efforts
of state, regional and local officials in helping Visteon select
the site. Visteon received property tax abatements, payroll tax
incentives and training grants for the new facility. "We are very
appreciative of the assistance and support received from the
Missouri Department of Economic Development, the St. Louis County
Economic Council and the St. Louis Regional Chamber and Growth
Association," Fream said. "Business growth is a key component of
Visteon's improvement plan," she added. "Through the commitment of
our employees and the cooperation of state and local governments,
this will be a cost-competitive manufacturing operation that will
effectively serve our customers, while creating opportunities for
our employees and the local community." Eureka Mayor Kevin M.
Coffey welcomed Visteon's decision to build in the community. "We
are pleased to have a global company of Visteon's caliber choose
our community for its new manufacturing plant, and we look forward
to the new jobs and economic stimulus that this new facility will
generate," Coffey said. St. Louis County Executive Charlie A.
Dooley said: "I am extremely pleased to welcome Visteon Corporation
to St. Louis County. This commitment to our community is exciting
and welcome news." 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 45,000 people.
http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO
http://photoarchive.ap.org/ DATASOURCE: Visteon Corporation
CONTACT: Media, Jim Fisher, +1-734-710-5557, ; or Investor
Inquiries, Derek Fiebig, +1-734-710-5800, , both of Visteon
Corporation Web site: http://www.visteon.com/
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