Visteon Corporation

Visteon Announces Agreement With Kingsmith, Ltd. To Develop Intelligent Traffic Systems

    Turin, Italy (ots-PRNewswire) - In an effort to continue to develop  world-class Intelligent Transportation Systems (ITS) solutions to the global  automotive market, Visteon Corporation (NYSE: VC) and Kingsmith, Ltd. of Hong  Kong, an industry leader in vehicle positioning systems, have signed a  strategic agreement with the intent to design, develop and market  communication technologies and services for fleet and traffic management  products.

    The agreement combines Visteon's in-vehicle hardware technology, manufacturing, engineering and multimedia strengths with Kingsmith's unique  knowledge and experience in electronic road pricing and ITS software  expertise. This alliance allows for the companies to pursue joint development  and marketing opportunities to bring advanced communication technology into  passenger cars, commercial vehicles, public service vehicles and aftermarket  segments.

    "The alliance between Visteon and Kingsmith supports Visteon's Telematics  strategy to offer a complete portfolio of hardware and content based  services," said Doug Sendelbach, Strategic Business Unit Director for  Visteon's Telematics/Multimedia business system in Europe and South America.  "Together, Visteon and Kingsmith will be able to offer advanced in-vehicle  solutions for dynamic, real-time fleet and traffic management products, including on-board electronic road pricing modules."

    Under the agreement, Kingsmith will provide high-level system architecture, software architecture design, key server and communication  systems interface. Visteon will provide the in-vehicle unit hardware design, communication module sourcing, manufacturing design, system testing, delivery  and installation. By leveraging the synergies of each company, the two  anticipate being able to provide real-time data transfer, enabling the next  generation of communication services such as:  

    *  Roadside Assistance

    *  Emergency Call Services

    *  Real-time traffic congestion information

    *  Real-time parking booking

    *  Anti-theft and tracking

    *  Fleet dispatch and control services

    *  Wireless Information Services

    *  Electronic Road Pricing

    *  Fleet Management Services.  

    Kingsmith is the current DataTac network operator in Hong Kong and has  developed a range of off-board fleet and data management services. With  electronic road pricing trials already in place through Kingsmith in Hong  Kong, the agreement will allow Visteon to pursue government and electronic  road pricing opportunities on a global basis.

    "Joint project and systems teams comprised of both Visteon and Kingsmith  staff will support the growth and development of these business  opportunities," said Sendelbach. "As the business evolves, we will look at  expanding our geographical locations in an effort to fully support our  customers."

    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 Visteon's SEC filings. See "Risk  Factors" section of Visteon's 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 Visteon's  business, financial condition and results of operations.  

ots Original Text Service: Visteon Corporation Internet:

Contact: Media Inquiries: Giavanna Palazzolo, +44-0-1268-40-4971,, or Investor Inquiries: Kent Niederhofer, 313-755-3699,, both of Visteon Corporation

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Original-Content von: Visteon Corporation, übermittelt durch news aktuell

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