Visteon Opens $29.8 Million Climate Control Facility in Beijing

Date: 1 September 2004
Source: Visteon
As one of Asia Pacific's leading automotive climate control suppliers, Visteon Corporation (NYSE: VC), continues to support its growing customer base with the opening of a new $29.8 million manufacturing facility in Beijing, ChinaVisteon Climate Control (Beijing) Co., Ltd., is majority owned by Visteon and produces air conditioning and engine cooling modules for Beijing Hyundai Motor Co.

This facility strengthens Visteon's position in China as a climate control supplier. Visteon owns 80 percent of the facility, with Beijing Automotive Industry Holding Corporation (BAIC) owning the remaining 20 percent.

The 180,000-square foot manufacturing and warehousing facility is located in the Caiyuan Industrial Zone. Construction began in July 2003 and was completed recently. The plant employs approximately 200 people.

"As one of the largest climate control suppliers in China, we are particularly proud of this facility as it expands our customer base to Hyundai, Kia and their partners in China," said Cliff Dawson, director of manufacturing operations in Asia Pacific Operations. "We're pleased that we could construct a world-class facility in such a short amount of time to be able to support our customer. We look forward to much success with this facility and are committed to continuing to provide high-quality climate components and systems."

Prior to the opening of the new facility in the Caiyuan Industrial Zone, Visteon supported Hyundai through a temporary facility that was established in the Linhe Industrial Development Zone.

"Our experience in establishing manufacturing and technical facilities in China proved valuable in setting up both the temporary and permanent manufacturing operations quickly and in a way that meets the needs of a key customer," said Dawson.

For more than 10 years, Visteon has been growing its presence in Asia Pacific. Today, Visteon operates more than 20 manufacturing facilities in the region, located throughout China, Japan, Korea, Thailand, the Philippines and India, serving a variety of global and regional automakers. Visteon is a leader in delivering climate, interior and electronics component and systems to customers in what has become the fastest-growing automotive market in the world.

600450 Visteon Opens $29.8 Million Climate Control Facility in Beijing
Date: 1 September 2004
Source: Visteon

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