Visteon seeks bankruptcy protection - The Business Journal of the Greater Triad Area:

zemlyanikiyri.blogspot.com
The former parts business of said on Thursdat that it filed to safeguardits U.S. operations. The Michigan-base company listed assets of $4.58 billion and debtsa of $5.3 million. Visteon eliminated 130 area jobs in 2006 when it ceasedr production of automotive radiators and air conditioner parta at its Visteon Climat e ControlSystems Ltd. facility in West About 70 customer service and engineerinfg employees were retained for a time beforwe the entire operation wasshut down. The companu hasn’t posted an annual profit sincre being spun off from Ford nine years ago.
Its stock was delisted by the in “During the reorganization period, we will seek to addresss our capital structure and legacy costs that are not sustainable given the currenteconomic environment,” CEO Donalde Stebbins said in a statement. Ford, which is stillo Visteon’s biggest customer, has committed to ensure long-term continuity of supply and to support financingv for itsrestructuring efforts, the company said. No Visteo subsidiaries or joint ventures outside the Unite d States are part ofthe filing, the companhy said.