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Visteon, Sumitomo Venture Leverages Dual Expertise

25 June 1999

Visteon, Sumitomo Venture Leverages Dual Expertise To Provide New Electronics Systems Capabilities

    DEARBORN, Mich., June 24 -- Visteon Automotive Systems and
Sumitomo Electric Wiring Systems, Inc., have teamed up to provide global
automotive customers with leading-edge electronic systems solutions that
promise more integration, less weight and lower costs than systems currently
available.
    Sumitomo Electric Wiring Systems, Inc., a subsidiary of Sumitomo Electric
Industries, Ltd. (SEI; Japan), will join Visteon in a 50-50 partnership that
marries SEI's advanced electrical distribution expertise with Visteon's
industry-leading automotive systems capabilities.  The new company, AutoNeural
Systems, LLC, enables the partners to collaboratively engineer systems and
wiring architectures that push the envelope of automotive electronic
solutions.
    "This is a perfect partnership for both Visteon and Sumitomo Electric
Wiring Systems," said Stephen W. Delaney, vice president, interior and
exterior systems, Visteon.  "Each partner brings important capabilities to the
venture -- capabilities that will allow us to jointly develop completely
integrated electrical and electronic solutions for our customers."
    According to David Jean, executive vice president of Sumitomo Electric
Wiring Systems, "AutoNeural Systems will be the solution-oriented supplier for
the automobile industry through the combined creativity and innovation of
these two excellent companies.  We are excited about the synergy this
partnership will create."
    Automotive manufacturers continue to outsource major vehicle systems to
full service suppliers such as Visteon.  Automotive research indicates that as
much as 40 percent of the electrical/electronics market will be sourced as
complete systems by 2008.
    Visteon and Sumitomo expect the venture to generate sales of $100 million
by 2004 and to grow as new technology systems are developed.
    AutoNeural will offer vehicle manufacturers the solutions needed to
address another growing trend -- elimination of stand-alone electronic
modules.  The venture will focus on body electronics and electrical
distribution systems, but will leverage the partners' expertise to develop
more fully integrated solutions in areas such as multimedia, climate control,
driver information, chassis and interior mechanical systems.  AutoNeural will
provide on-site design services, including development of alternative designs.
    Thomas VanderLaan, manager of electrical distribution systems, Visteon,
has been appointed general manager of AutoNeural.  Visteon and Sumitomo
engineers are assigned to the venture, which will be located in Visteon's
technical center in Allen Park, Mich.  Visteon and Sumitomo expect the venture
to grow as new technology systems are developed.
    Sumitomo Electric Wiring Systems, Inc.,  headquartered in Bowling Green,
Kentucky, is owned by Sumitomo Electric Industries of Osaka, Japan, and
Sumitomo Wiring Systems of Yokkaichi, Japan.  With a combined worldwide
employment of 63,000 Sumitomo is globally positioned to service the automotive
market throughout the world with the highest quality electronics and
electrical distribution systems.
    With a global delivery system of more than 125 technical, manufacturing,
sales and service facilities located in 21 countries, Visteon Automotive
Systems is leveraging the talents of its 77,000 employees to deliver
innovative, consumer-driven systems solutions to its customers.