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January 3, 2013
14:37 EDTVCVisteon CEO issues statement about HCC-Hyundai business
The following statement was issued by Timothy D. Leuliette, president and CEO of Visteon (VC) and Y.H. Park, president and CEO of Halla Climate Control, a Korea-based affiliate that is majority-owned by Visteon: "Certain recent media reports originating in Korea inaccurately characterized the state of the longtime successful business relationship between Halla Climate Control Corp. and Hyundai, and the strength of the overall HCC order book. HCC's order book with Hyundai, and with its overall customer base, continues to grow at a faster rate than the market we serve, and all indications are that this strong growth is expected to continue into the future. HCC's relationship with Hyundai remains strong and we expect it will be further strengthened with the integration of Visteon's climate business into HCC, which is targeted for completion in the first quarter of 2013. Furthermore, HCC expects to continue to grow its business globally as it invests and develops market-leading technologies widely desired by its customer base. HCC does not win 100 percent of Hyundai's climate business and does not participate in every Hyundai vehicle program; this would not be a realistic business model for any automaker with any supplier. HCC deeply values its ongoing relationship with Hyundai, as well as its ever-growing portfolio of customers, and will continue to deliver award-winning technologies, quality and value."
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November 25, 2014
07:06 EDTVCVisteon confirms discussions with Hahn & Co. regarding sale of interest in HVCC
Visteon confirmed it is currently engaged in discussions with Hahn & Company regarding a potential sale of Visteon's ownership interest in Halla Visteon Climate Control Corp. to the Korea-based private equity company. There can be no assurance that these discussions will result in any transaction or on what terms any such transaction may occur. Visteon undertakes no obligation to provide further updates and does not intend to comment further regarding the discussions or other strategic alternatives involving HVCC until such time as its board of directors has determined that disclosure is appropriate. Visteon expects that HVCC, the world's second largest provider of vehicle thermal management solutions, would continue to benefit from its well-respected management team, strong balance sheet, expanding global customer base and globally recognized technical acumen.
November 24, 2014
07:04 EDTVCVisteon could sell Halla Visteon stake to private equity firm, Reuters reports
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