Visteon Business report FY2007
|in million dollars||FY2007||FY2006||Rate
(1) Changes in currency resulted in an increase of $569 million, primarily related to the strengthening of the Euro, Korean Won, Brazil Real, and British Pound during 2007. Divestitures and closures, including the Chassis Divestiture, Chicago, IL plant closure, and the Chennai, India divestiture reduced sales by $675 million in the aggregate. North America sales volumes decreased by $434 million related to lower Ford and Nissan volumes in North America and the result of customer sourcing actions, primarily in the Electronics product group. Sales in Asia increased $537 million, including $269 million of directed source content related to Hyundai/Kia production and net new business wins.
(2) Sales increased in Asia by $237 million, principally attributable to new business and higher production volumes. Climate sales increased in Europe by $68 million principally related to higher Ford vehicle production volumes. Sales were lower in North America by $121 million due to lower Ford North America vehicle production volume and unfavorable product mix partially offset by new business.
(3) Sales in 2007 included higher sales in Europe of $171 million due to increased Ford vehicle production volumes, partially offset by lower Ford North American vehicle production volumes and adverse product mix related to past customer sourcing actions of $197 million.
(4) Increased sales in Asia of $300 million,
primarily due to an increase in directed source content for Hyundai/Kia
production, were partially offset by lower sales in North America
of $297 million, primarily due to lower Ford and Nissan vehicle
production volumes as well as the impact of lost volume related
to the closure of the Chicago facility.
(5) The decrease is largely attributable to 2007 divestiture activities including the Chassis Divestiture, which resulted in a decrease of $390 million and the Chennai, India divestiture, which resulted in a decrease of $35 million. Sales decreased by $83 million with reductions in all regions related to lower vehicle production volumes and adverse product mix.
-According to the press release on October 15 2007, the Company, in collaboration with Boston Acoustics(R), is bringing Dolby(R) Pro Logic(R) II surround sound to Chrysler LLC. Visteon and Boston Acoustics will deliver the popular Dolby Pro Logic II surround sound to the 2008 models of the Chrysler 300 and Dodge Charger.
Dueren→Special Situations Venture Partners II L.P. (SSVP II)
Wuelfrath→Special Situations Venture Partners II L.P. (SSVP II)
Prazka→Special Situations Venture Partners II L.P. (SSVP II)
Chennai→Adyar River Ltd.
-Facilities announced to be addressed in 2008
- Following the March 1, 2007 merger agreement between Plastic Omnium Auto Exteriors and Yanfeng Visteon, Plastic Omnium announced that it has received the green light from the Chinese government to establish Yanfeng Plastic Omnium Automotive Exterior Systems Co (YFPO). Plastic Omnium said it will acquire a 49.95% stake in YFPO and consolidate the exterior components business of Yanfeng Visteon, which is a j-v between Visteon Corp. and Shanghai Automotive Industrial Corp. (SAIC). YFPO is expected to start operations in the later part of 2007 supplying parts to multiple customers from two molding plants located at Anting and Chongqing. The plants will collectively employ about 500 people.
Outlook for 2008
-Anticipated net product sales for 2008 through 2010 from new and replacement programs, less net sales from phased-out and canceled programs are approximately $725 million.
|in million dollars||2007||2006||2005||2004||2003|
-According to the press release on December 19 2007, the Company will share some of its powertrain electronics technology with the United States Department of Energy as part of a project to help foster the use of ethanol-fueled E85 optimized vehicles.
R744 climate system
It consumes up to 25 percent less fuel than conventional R134a systems and enables a reduction of CO2 tailpipe emissions of up to 7g/km while operating the air-conditioning system. The efficient operation helps to reduce the overall fuel consumption of the vehicle by approximately 0.3 liter per 100 km at the same cooling performance as traditional systems at an ambient temperature of 25 degrees C. By designing standardized and compact components. As a part of the system, a new and very robust fitting technology called VisCO2nnect was designed . Unlike conventional metal seal fittings, VisCO2nnect has a patented design which assures the required level of pressure and supports easy assembly and serviceability.
|in million dollars||FY2007||FY2006||FY2005||FY2004|
- According to the press release on June 20 2007, the Company has begun building a manufacturing and assembly facility in Eureka, Mo., to support new business in North America with automakers including Chrysler Group. The plant is expected to begin production in the summer of 2008 and it initially will supply door panels, consoles and cockpits to Chrysler Group's St. Louis North Assembly Plant.