Visteon Completes Sale of Halewood, UK, Facility; Continues Progress of UK Restructuring

VAN BUREN TOWNSHIP, Mich., Aug. 29, 2008 -- Visteon Corporation today announced the sale of its Halewood, United Kingdom, facility to International Automotive Components Group Europe (IAC Europe), a key automotive supplier for interior trim, carpet and acoustics systems, and exterior trim.

The Halewood facility is dedicated to the assembly and sequencing of cockpit systems and consoles to Jaguar Land Rover's Halewood operation. The Halewood facility had 2007 sales of approximately $150 million and operated on close to a break-even basis. Under the business purchase agreement, Visteon will transfer the assembly facility and associated assets including purchase and supply contracts to IAC Europe. The nearly 150 employees currently employed at the facility will also transfer to the new owner. Terms of the sale were not disclosed.

"Following the recently announced customer agreements and the Swansea plant sale, the divestiture of our Halewood facility marks another important step in improving the financial performance of our UK operations," said Donald J. Stebbins, Visteon president and chief executive officer.