Visteon

Visteon Corporation and Huayu Automotive Systems Company have agreed to terminate the non-binding memorandum of understanding (MOU) with respect to a potential transaction that would have combined the majority of Visteon's global interiors business with Yanfeng Visteon Automotive Trim Systems. According to Don Stebbins, Visteon chairman, chief executive officer and president, “both parties worked hard to move the agreement forward, but there were a number of items that kept us from doing so.”

Visteon is expanding automotive component testing capabilities at its engineering test centre in Brazil, one of the most advanced automotive technical centers in Latin America. The Visteon Tech Centre, located at the company's Arbor manufacturing facility in Guarulhos (SP), will now start performing thermal cycle tests on internal and external components for vehicles.

Visteon Corporation has announced that it has agreed to sell its automotive lighting business to Varroc Group, a global provider of automotive parts headquartered in India, for US$92 million in cash. The transaction, which is subject to regulatory reviews and other conditions, is expected to be completed in the third quarter of 2012. The business to be sold encompasses a wide range of exterior lighting products supplied to global vehicle manufacturers, including front and rear lighting systems, auxiliary la