Visteon (NASDAQ:VC)
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Visteon Honored for its Investments in the Czech Republic
KERPEN, Germany, July 22 /PRNewswire-FirstCall/ -- Visteon Corporation
(NYSE:VC), a leading global automotive supplier, was recognized as being one of
the most important investors in the Czech Republic when Dr. Karl Krause,
Visteon's manufacturing vice president for Europe and South America, received
the "Investor of the Year 2003" award from Czech Prime Minister Vladimir
Spidla.
(Logo: http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO )
Visteon's Czech subsidiary, Autopal, earned the recognition in an evaluation by
the CZECHTOP 100 Association. Investment projects with the highest
contribution to the Czech economic development were honored recently during a
ceremony at Prague's castle. In the category of "investments with the highest
innovative potential," Visteon/Autopal ranked third for the development of
innovative lighting and climate control technology.
Autopal also ranked in the top 60 of the most important companies in the Czech
Republic in the "sales in 2003" category. Autopal ranked 21st in exports and
also ranked high in the most "dynamic company" category. Autopal's overall
investment in the Czech Republic in 2003 was 30.2 million Czech Republic Koruny
(CZK) ($1.2 million U.S.), of which more than 15 million CZK ($600,000 U.S.)
went toward employee training. As a result of this investment 50 new positions
were created in the area of new product design and development.
Autopal customers include Aston Martin, Audi, Citroen, Fiat, Ford, Jaguar,
Peugeot, Porsche, Renault, Seat, Skoda Auto, Volkswagen, and Volvo.
"With increased production volumes 2003 marked another step forward for our
export activities," said Ladislav Glogar, Autopal's general manager. "Autopal
belongs to the leading exporting companies in the Czech Republic. We export
lighting, climate control and engine cooling components to 73 plants in 22
countries on five continents. Our biggest customers are carmakers in Germany,
France and Great Britain. Part of our production also goes to our customers in
the United States." In 2003, Glogar said, Autopal delivered more than 24
million automotive parts, including more than nine million climate control
components for passenger cars. "The company's excellent product quality record
is testimony to the excellent accomplishments and the precise work of our
employees," Glogar said.
Visteon, through its Autopal subsidiary and its more than 4,400 employees, has
gained a very strong position in the Czech Republic. Its production facilities
are located in Novy Jicin, Rychvald, and Hluk. Its aftermarket trade
subsidiary is in Prague, and the aftermarket Central Eastern European warehouse
is located in Novy Jicin. A customer sales office for Skoda is located in
Mlada Boleslav.
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 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/20001201/DEF008LOGO
DATASOURCE: Visteon Corporation
CONTACT: Britta Lange of Visteon Corporation, (+49) 2273 575 2667,
Web site: http://www.visteon.com/