VC Visteon Corporation

Visteon Announces Completion of Supplemental Agreement Negotiations With UAW DEARBORN, Mich., April 29 /PRNewswire-FirstCall/ -- Visteon Corporation today announced a tentative agreement on a Visteon Supplemental Agreement with the United Auto Workers for future hires at its UAW Master Agreement facilities. The seven-year agreement will allow Visteon to hire new workers at wage and benefit levels significantly below current Ford-UAW Master Agreement rates. (Logo: http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO ) "We are pleased to reach an agreement that helps improve Visteon's competitive position and one that is fair to future UAW-represented employees," said Michael F. Johnston, Visteon chief operating officer and president. "Visteon is driven to deliver high-quality products to our customers at competitive prices. As a result of transitioning to a more competitive cost structure in our UAW facilities, we will be better positioned to compete for and win new business." Visteon will work with the UAW toward implementation of the new Supplemental Agreement at its 15 UAW Master facilities, which are located in the United States. Visteon Corporation is a leading full-service supplier that delivers consumer-driven technology solutions to automotive manufacturers worldwide and through multiple channels within the global automotive aftermarket. Visteon has approximately 72,000 employees and a global delivery system of more than 200 technical, manufacturing, sales, and service facilities located in 25 countries. http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO DATASOURCE: Visteon Corporation CONTACT: Tammera L. Hallums of Visteon Corporation, +1-313-755-0998, Web site: http://www.visteon.com/

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