Dearborn, Mich. (ots-PRNewswire) - Visteon Corporation (NYSE: VC)
today announced that it will participate in Covisint, the global
on-line automotive purchasing exchange formed by Ford,
DaimlerChrysler AG, General Motors, Nissan and Renault SA.
The purpose of the exchange is to create an integrated supply
chain for the worldwide automotive industry. Covisint will offer
Visteon the ability to provide additional services for Electronic
Data Interchange, enabling the corporation to conduct electronic
transactions with customers and suppliers, while providing a
high-level of security and confidentiality. Visteon is the world's
second largest supplier of integrated automotive systems with $19.4
billion in revenues in 1999. Additionally, Visteon purchased more
than $9 billion in goods and services last year.
"We're enthusiastic about our participation in Covisint, which
will help strengthen our common standards and infrastructure," said
Susan Skerker, senior vice president, Business Strategy and Corporate
Relations for Visteon. "We believe this action will enable us to
continue to expand our e-business strategies, increase our revenue
growth, reduce costs and enhance communications with our customers
By joining Covisint, Visteon will build on the success it already
has acquired in e-business and online procurement. In addition to
cost savings, Visteon anticipates taking full advantage of the
potential for Internet-based information sharing and virtual product
development collaboration across the supply chain.
In late May, the new venture officially was named Covisint. The
U.S. Federal Trade Commission recently approved the formation of the
venture. Covisint will operate as an independent company and will
offer products and services designed to help automakers and suppliers
achieve efficiencies throughout the supply chain.
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 a global delivery system
of more than 130 technical, manufacturing, sales, and service
facilities located in 23 countries. It has 81,000 employees working
in three business segments: Dynamics and Energy Conversion; Comfort,
Communication and Safety; and Glass.
This press release contains forward-looking statements made
pursuant to the Private Securities Litigation Reform Act of 1995.
Words such as "estimated" and "potentially" signify forward-looking
statements. Forward- looking statements are not guarantees of future
results and conditions but rather are subject to various risks and
uncertainties, some of which are and will be identified as "Risk
Factors" in our SEC filings. See "Risk Factors" section of our
prospectus dated June 13, 2000 as filed with the SEC on June 14,
2000. Should any risks and uncertainties develop into actual events,
these developments could have material adverse effects on our
business, financial condition and results of operations.
ots Original Text Service: Visteon Corporation
Contact: Media Inquiries: Liane Smyth, 313-755-2916,
, or Investor Inquiries: Kent Niederhofer,
, both of Visteon Corporation
Web site: http://www.visteon.com
CO: Visteon Corporation; Covisint ST: Michigan IN: AUT CPR MLM SU:
Original-Content von: Visteon Corporation, übermittelt durch news aktuell