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Visteon Continues To Lose Ground

Last updated on Friday, August 3, 2007

(UNDATED) - An overseas media source is reporting that automotive supplier Visteon has lost nearly $67-million in the United States during the second quarter of 2007.

The company has been restructuring the business with a change at the facility in Chicago. Visteon has begun phasing out the Connersville plant, and has announced its intentions to close the plant in Bedford. In Bedford alone, nearly 700 people will be affected by the decision.

Visteon has reported a net loss of $67-million, or .52-cents per share, for the second quarter of 2007 coupled with a net loss of $153-million, or $1.19 a share, for the first quarter of 2007.

The article goes on to say that North American vehicle production volumes, pricing, sourcing and product mix continues to have a negative impact in the market.

Meanwhile, Visteon has begun building a manufacturing and assembly facility in Eureka, Missouri, to maintain new business in North America with original equipment manufacturers such as Chrysler Group. The Missouri plant is scheduled to start in the summer of 2008.

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