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VC Visteon Corporation

115.00
3.83 (3.45%)
After Hours
Last Updated: 22:33:59
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Share Name Share Symbol Market Type
Visteon Corporation NASDAQ:VC NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  3.83 3.45% 115.00 114.28 115.67 115.24 111.99 112.38 331,018 22:33:59

Instrument Panel Team in China and Michigan Wins Visteon's Highest Form of Employee Recognition

26/03/2004 7:00pm

PR Newswire (US)


Visteon (NASDAQ:VC)
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Instrument Panel Team in China and Michigan Wins Visteon's Highest Form of Employee Recognition DEARBORN, Mich., March 26 /PRNewswire/ -- Cooperation across two continents helped Visteon Corporation meet increased demand for instrument panels for one of China's most popular vehicles. It also helped the team involved win Visteon's highest form of employee recognition -- a Leading the Way Summit Award. (Photo: http://www.newscom.com/cgi-bin/prnh/20040326/DEF009 http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO ) YanFeng Visteon, a joint venture between Visteon and Shanghai Automotive Industry Corp. in Shanghai, China, began supplying instrument panels for the Shanghai Buick Regal in early 2003. Due to an upswing in the market and the popularity of the redesigned vehicle, the plant's requirements for instrument panels doubled within the first two months. "YanFeng Visteon was meeting original production plans, but the vehicle was outselling projections," said Steve Meszaros, managing director, YanFeng Visteon, who nominated the six-member team. "The team realized it had to reduce cycle time and obtain additional tooling as quickly as possible." To meet the additional requirements, the team found ways to reduce the cycle time of the instrument panel foam process used in Shanghai. Leveraging Visteon's global capability and technical support from the Saline (Michigan) Plant, the Shanghai plant put into service a second foam-injection tool that combines a hard plastic substrate, vinyl skin and polyurethane foam to produce a finished instrument panel. Meanwhile, the Shanghai plant added a third shift and moved to a seven-day-a-week production schedule. As a result of these efforts, YanFeng Visteon is now producinginstrument panels at a rate nearly three times the original expectation. For its efforts, the instrument panel capacity team is being recognized with a prestigious Leading the Way Summit Award -- one of only six awarded by Visteon, which has 72,000 employees on six continents. The team was selected by Visteon Chairman and Chief Executive Officer Pete Pestillo and President and Chief Operating Officer Mike Johnston from among 46 individuals and teams, who received quarterly Leading the Way awards in2003. Members of the winning instrument panel team include Chen Yong, Su Xiaoyu, Wang Bingshen and Ye Yingtang from YanFeng Visteon, and Blane Hansknecht and Bob Hendricks from the Saline Plant. "Visteon is committed to establishing a collaborative, performance-driven culture in which we recognize and celebrate the success of individuals and teams achieving breakthrough performance," Pestillo said. "I am very proud of Visteon's first Summit Award winners, and of all 289 individuals and teams who were nominated by their leaders and peers for Leading the Way Awards throughout the year. It was no easy task selecting just six winners, as each of the nominees demonstrated exemplary performance." Johnston said achievements of the instrument panel capacity team and the other Summit Award winners represent the "best of the best" of Visteon's accomplishments in 2003. "This team and all of the Summit Award winners embody the energy, perseverance and ability to execute that will be hallmarks of Visteon's future success," he noted. Launched in 2003, the Leading the Way recognition program honors Visteon employees who demonstrate exemplary performance, accomplishments or behavior that is significantly above and beyond expectations, or results that produce noticeable improvement in areas such as quality, value to the customer, speed and people. The Summit Award is granted annually and is the most prestigious award associated with the Leading the Way program. 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 approximately 72,000 employees and a global delivery system of more than 200 technical, manufacturing, sales and service facilities located in 25 countries. http://www.newscom.com/cgi-bin/prnh/20040326/DEF009 http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO DATASOURCE: Visteon Corporation CONTACT: Media Inquiries: Kimberly A. Welch, +1-313-755-3537, , or Jim Fisher, +1-313-755-0635, , both of Visteon Corporation Web site: http://www.visteon.com/

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