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Visteon to Invest $62 Million in Alba, Hungary Plant
Dearborn, Mich. (ots-PRNewswire) - Visteon Corporation continues to expand its presence in Europe by announcing a $62 million investment in its Alba, Hungary Plant. The investment will enhance Visteon's position as a leading global supplier of automotive climate control systems, by increasing its compressor product offerings in Europe.
The decision to locate this business within an existing facility allows Visteon to quickly meet the needs of its customers, while positioning itself for potential future business. The investment will allow the facility to install machinery and tooling to begin production of a new line of compressors in 2002. At full production, Visteon expects to produce 600,000 compressors annually at the Alba Plant.
"This investment is a reflection of Visteon's commitment to expand its global reach and to better serve our customers," said Frank Croskey, vice president and general manager, Visteon Climate Control Systems Group, part of the Comfort, Communications and Safety Segment. "The flexible design of this compressor will allow Visteon to support numerous vehicle applications while contributing to its customers' success."
The compressor is the "heart" of the vehicle's air conditioning system. The type of compressor Visteon will manufacture at this facility is particularly suited to small car applications, where good high-speed driveability and low fuel consumption are strong selling features.
The investment, contingent upon government approvals, will enable the 432,000-square-foot facility to install a state-of-the-art technology in preparation for production of compressors for the European customer base. Additionally, the investment will create 150 jobs, bringing the total number of employees at the plant to 1,280.
"We are excited about the possibilities this investment will bring to the Alba Plant," said Dan Linder, plant manager, Visteon's Alba Plant. "The investment underscores Alba's reputation as a plant that can deliver on its commitments."
Visteon's Alba Plant, located in Szekesfehervar, Hungary, currently manufactures ignition coils, starter motors, turbine fuel pumps, fuel delivery modules/senders, air fuel charging assemblies, washer reservoirs and fuel pressure regulators. The plant's global supply reaches customers in Europe, North America and Australia. The plant has an annual production of 8.5 million units.
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 core business segments: Dynamics and Energy Conversion; Comfort, Communication and Safety; and Glass.
ots Original Text Service: Visteon Corporation Internet: http://recherche.newsaktuell.de
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