VAN BUREN TOWNSHIP, MI -- Visteon has sold its non-core North American-based aftermarket underhood and remanufacturing facilities to Centrum Equities, XV, LLC, an affiliate of Centrum Properties, Inc. The operations sold include a manufacturing plant in Sparta, TN, and two plants in Reynosa, Mexico.
Visteon's Sparta, TN, facility (known as LTD Parts) manufactures starters and alternators for aftermarket customers. The two Reynosa, Mexico, facilities manufacture aftermarket climate products including radiators, compressors and condensers -- and also remanufacture steering pumps and gears.
Specific terms of the transaction were not disclosed. The sale does not include aftermarket mobile electronics products, which Visteon maintains as part of its electronics group.
According to Donald Stebbins, Visteon president and chief operating officer, the sale is another step in the company’s plan to restructure, improve and grow Visteon’s business by focusing on strategic product lines, including advanced climate, interiors and electronics products.
For more information about Visteon, go to: http://www.visteon.com.