Visteon Opts For Chinese Parts

Auto parts maker Visteon Corp said yesterday it would buy more Chinese parts to cut production costs.

Currently, 20 percent of the firm's global purchases are from China, while 50 percent of its Asian suppliers are Chinese, said Sylvain Caillet, global purchasing director of Visteon's Asia-Pacific and Electronics Divisions.

"China is critical to our success. This is why we have located our global electronics and our regional purchasing at our China technical center in Shanghai," he said.

He said the company hoped to increase its purchases of Chinese electronics by 30 percent. It also plans to develop local suppliers for Visteon's global network.

The company made the announcement amid restructuring efforts and business portfolio changes to improve operational and financial results in 2008. It said recently it would close an eastern Indiana auto-parts plant in the United States, part of efforts that began last year to close, fix or sell 30 plants.

Visteon said it needed a Chinese supplier to provide cheap auto parts as high production costs in North America had resulted in a drop in profit.

Read the entire news on the source link below.

600450 Visteon Opts For Chinese Parts glassonweb.com
Date: 12 February 2007
Source: Chinadaily.com.cn

See more news about:

See more from these topics:

Others also read

Thin glass is revolutionising the performance spectrum of glass and glass panes.
Launched in September 2017, the Solar Smart Mobility project aims to develop and industrialise a total new production area in supple, transparent photovoltaic glazing adapted to transport applications.
Register now to discover the latest innovations in automotive glass bending.
PGW confirms phased close-out of production at Creighton to occur throughout 2018.
Valtra, a worldwide brand of AGCO, is introducing a unique SmartGlass windscreen with a transparent display for agricultural tractors.
AGC Asahi Glass, a world-leading manufacturer of glass, chemicals and high-tech materials, announces that its Kiriko glasswork has been chosen by Toyota Motor Corporation to be fitted to its new Lexus LS model released today.

From industry

Is Kuleleri, Kule: 2, Kat: 22, 4. Levent
34330 Levent-Istanbul/İstanbul
Turkey

Portuetxe bidea 18
20018 San Sebastián (Gipuzkoa) Guipúzcoa
Spain

Add new comment