U.S. auto parts supplier Visteon Corp said it could potentially sell a majority of its interiors business to its Chinese joint venture with Huayu Automotive Systems, creating a global automotive interiors company.Definitive agreements for the proposed sale are targeted to be signed in early 2012, Visteon said in a statement, but did not disclose any financial terms.The new company would have an estimated annual revenue of about $4 billion, serving more than 30 customers from facilities in 16 countries, the company said.The joint venture, Yanfeng Visteon Automotive Trim Systems Co, designs and manufactures interior, exterior, seating, electronics and safety systems for automakers.
Visteon Corporation (Visteon) is a global supplier of climate, interiors and electronics systems, modules and components to automotive original equipment manufacturers (OEMs), including BMW, Chrysler, Daimler, Ford, General Motors, Honda, Hyundai, Kia, Nissan, PSA Peugeot Citroen, Renault, Toyota and Volkswagen. Shares of VC remained unchanged at $52.47. In the past year, the shares have traded as low as $38.32 and as high as $76.61. On average, 531030 shares of VC exchange hands on a given day and today's volume is recorded at 0.
