DAEJEON, South Korea, Aug. 1,
2014 /PRNewswire/ -- Halla Visteon Climate Control
Corp. (KS: 018880) today announced it has completed the acquisition
of the automotive thermal and emissions product line of
Cooper-Standard Automotive Inc., a subsidiary of Cooper-Standard
Holdings Inc. (NYSE: CPS), in a cash transaction valued at
$46 million, subject to price
adjustment. The transaction was announced by both companies on
June 30.
"We are pleased to have completed this acquisition, which
provides HVCC with additional technologies that have a solid
reputation, and that strengthen our ability to provide thermal
energy management systems and modules to support customers' global
platforms," said YH Park, HVCC president and CEO.
The thermal and emissions product line acquired from
Cooper Standard supports HVCC's
focus on delivering fuel-efficient thermal energy management
solutions to automakers. Products acquired include exhaust gas
recirculation modules (EGRs), electronic coolant pumps and valves,
electronic wastegate actuators and electronic throttle bodies.
About Halla Visteon Climate Control
Halla Visteon
Climate Control (HVCC) is a full-line automotive supplier of
climate systems and components. Products include heating
ventilation and air conditioning; compressors; powertrain cooling;
fluid transport; and electric, hybrid and fuel cell vehicle thermal
systems. With 35 manufacturing sites supported by four global
technical centers in 19 countries, HVCC employs nearly 14,500
people.
HVCC is a 70-percent owned subsidiary of Visteon Corporation
(NYSE: VC) and is traded on the Korea Stock Exchange. Learn more at
www.hvccglobal.com.
About Visteon
Visteon is a global automotive supplier
delivering value for vehicle manufacturers and shareholders through
two high-growth core businesses: automotive cockpit electronics and
thermal management. Visteon owns 70 percent of Halla Visteon
Climate Control Corp., the world's second largest provider of
vehicle thermal management solutions. Visteon designs, engineers
and manufactures innovative components and systems for virtually
every vehicle manufacturer worldwide. With corporate offices in
Van Buren Township, Mich. (U.S.);
Shanghai, China; and Chelmsford, UK; Visteon has facilities in 32
countries and employs about 29,000 people. Visteon had sales of
$7.4 billion in 2013. Learn more at
www.visteon.com.
SOURCE Halla Visteon Climate Control Corp.