VISTEON PULLS OUT OF PU SEATING JOINT VENTURE IN CHINA

摘要

Shanghai, China - US automotive components supplier Visteon Corp. has agreed to sell its 50 percent stake in Chinese joint venture Yanfeng Visteon Automotive Trim Systems Co. - which makes foam in place automotive seating and other interior components - to partner Huayu Automotive Systems Co. for $1.2 billion. Visteon will separately purchase majority control of the joint venture's automotive electronics unit, known as Yanfeng Visteon Automotive Electronics Co., for $68 million, the company said Tuesday.