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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: http://recherche.newsaktuell.de
Web site: http://www.visteon.comOriginal-Content von: Visteon Corporation, übermittelt durch news aktuell