US: Visteon breaks off asset sale negotiations with GKN

摘要

VISTEON has confirmed that it has terminated discussions regarding the possible sale of certain Visteon driveline assets in Europe and South America to GKN and is now considering 'other alternatives'. The company is currently in the process of restructuring its businesses under its three-year improvement plan. Previously, it was reported that GKN had entered into exclusive negotiations with Visteon to buy the supplier's driveline business and plants in Duren, Germany; Praszka, Poland; Sao Paulo, Brazil and the axle manufacturing plant in Swansea in Wales, UK.