From Associated Press via MEMA Industry News
BEDFORD, IN — Auto parts supplier Visteon Corp. said it would relocate part of its Bedford plant operations to cut costs in a move that could affect about 600 of the plant’s 1,150 hourly and salaried workers.
The Dearborn, Mich.-based company gave no timetable for the move from Bedford, Ind., about 20 miles south of Bloomington, Ind., or a possible site for relocating workers. The plant makes a variety of fuel system parts and other components, mostly for Ford cars and trucks.
A company statement on Wednesday said Visteon was committed to providing support to Bedford employees throughout the transition and would work with the International Union of Electrical Workers-Communications Workers of America.
Earl Wilson, president of the union’s Local 907, met with union members Tuesday and told them of the company’s plans.
The union’s current Visteon contract in Bedford expires May 14. Contract negotiations broke down in late January, and the union has voted in favor of strike authorization. The sides expect to schedule more negotiations.
Visteon, a former Ford Motor Co. division, reported in January that it lost $1.21 billion, or $9.65 per share, in 2003 versus a loss of $352 million, or $2.75 per share, a year earlier. Revenue fell to $17.66 billion from $18.4 billion.
Besides the Bedford plant, Visteon operations in Indianapolis and Connersville each employ more than 2,000 workers. The company has about 72,000 workers globally, with manufacturing, sales and service facilities in 25 countries.
In trading Thursday in the New York Stock Exchange, Visteon shares rose 14 cents to close at $9.60.
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