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Visteon Deutschland GmbH

Visteon Announces Financial Agreement with Ford; Strategic and Structural Discussions Continue

Van Buren Township, Michigan (ots/PRNewswire)

Visteon
Corporation (NYSE: VC) today announced a financial agreement  with
Ford Motor Company that will improve Visteon's operating results and
cash flow and strengthen the operations that directly serve the
automaker.   The details of the financial agreement are being
reported in a Securities  and Exchange Commission filing.
(Logo:  http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO )
"This financial agreement is the right step forward with Ford and
supports the operations that directly serve our largest customer,"
said Mike  Johnston, president and chief executive officer.  "The
commitments made by  Ford and Visteon under this agreement will
improve Visteon's operating  results and cash flow.  It's a mutually
beneficial agreement that is in the  best interest of both
companies."
Under the financial agreement, Ford agreed to reduced wage
reimbursements from Visteon for hourly Ford-UAW employees assigned to
Visteon facilities; accelerate payment terms to Visteon; and pay for
capital  expenditures at certain Visteon plants in North America.
Visteon agreed to  continue uninterrupted supply to Ford and to
comply with contractual  agreements with Ford and the UAW.
Ford Discussions Continue
On Sept. 9, 2004, Visteon announced it would explore strategic and
structural changes to its US business to achieve a sustainable and
competitive business model.  Such changes would include Ford and
Visteon's  legacy businesses.
The discussions with Ford are progressing positively.  The goal is
to  ensure the long-term competitiveness of Visteon and a continued
supply of  components to Ford, while being mindful of obligations to
the Ford-UAW  employees assigned to Visteon.
"We are spending a great deal of time working with Ford to reach a
conclusion," said  Johnston.  "For some time now, we have had a
concept  that both parties are working toward achieving.  We are
spending our time  working out the details of that concept.  Other
than our conversations  with Ford, we are not in active discussions
with anyone else."
Visteon Corporation is a leading full-service supplier that
delivers  consumer-driven technology solutions to automotive
manufacturers worldwide  and through multiple channels within the
global automotive aftermarket.   Visteon has about 70,000 employees
and a global delivery system of more than  200 technical,
manufacturing, sales and service facilities located in 25  countries.
This press release contains "forward-looking statements" within
the  meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are not guarantees of future results and
conditions but rather are subject to various factors, risks and
uncertainties that could cause our actual results to differ
materially from  those expressed in these forward-looking statements,
including the  automotive vehicle production volumes and schedules of
our customers, and in  particular Ford's North American vehicle
production volumes; the successful  completion of our discussions
with Ford and, if successful, implementing  structural changes that
result from those discussions to achieve a  competitive and
sustainable business; our ability to satisfy our future  capital and
liquidity requirements; our successful execution of internal
performance plans and other cost-reduction and productivity efforts;
charges  resulting from restructurings, employee reductions,
acquisitions or  dispositions; our ability to offset or recover
significant material  surcharges; the timely completion of the review
of our prior period  financial statements referred to in our press
release of January 31, 2005;  and any adjustments that may result
from such review; the effect of pension  and other post-employment
benefit obligations; as well as those factors  identified in our
filings with the SEC (including our Annual Report on Form  10-K for
the year-ended December 31, 2003).  We assume no obligation to
update these forward-looking statements.
Web site:  http://www.visteon.com

Contact:

NOTE TO EDITORS: Visteon news releases, photographs and product
specification details are available at http://www.visteon.com.
CONTACT: Media Inquiries: Kimberly A.Welch, +1-734-710-5593,
kwelch5@visteon.com , or Analyst Inquiries: Derek Fiebig,
+1-734-710-5800,
dfiebig@visteon.com , both of Visteon Corporation. Photo: NewsCom:
http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO PRN
PhotoDesk, photodesk@prnewswire.com

Plus de actualités: Visteon Deutschland GmbH
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