Visteon and Halla Climate Control Issue Statement Confirming
Growing Business Backlog and Strong Customer Relationships
VAN BUREN TOWNSHIP,
Mich., Jan. 3, 2013
/PRNewswire/ -- The following statement was issued today by
Timothy D. Leuliette, president and
CEO of Visteon Corporation (NYSE: VC) and Y.H. Park, president and CEO of Halla Climate
Control Corp. (HCC), a Korea-based affiliate that is majority-owned
by Visteon.
Certain recent media reports originating in Korea
inaccurately characterized the state of the longtime successful
business relationship between Halla Climate Control Corp. (HCC) and
Hyundai, and the strength of the overall HCC order book.
HCC's order book with Hyundai, and with its overall
customer base, continues to grow at a faster rate than the market
we serve, and all indications are that this strong growth is
expected to continue into the future. HCC's relationship with
Hyundai remains strong and we expect it will be further
strengthened with the integration of Visteon's climate business
into HCC, which is targeted for completion in the first quarter of
2013. Furthermore, HCC expects to continue to grow its business
globally as it invests and develops market-leading technologies
widely desired by its customer base.
HCC does not win 100 percent of Hyundai's climate business
and does not participate in every Hyundai vehicle program; this
would not be a realistic business model for any automaker with any
supplier. HCC deeply values its ongoing relationship with Hyundai,
as well as its ever-growing portfolio of customers, and will
continue to deliver award-winning technologies, quality and
value.
About Visteon
Visteon is a leading
global automotive supplier that designs, engineers and manufactures
innovative climate, electronics and interior products for vehicle
manufacturers. With corporate offices in Van Buren Township, Mich. (U.S.); Shanghai, China; and Chelmsford, UK; the company has facilities in
28 countries and employs approximately 22,000 people. Learn more at
www.visteon.com.
SOURCE Visteon Corporation