---

Visteon Finalizes Acquisition to Become Leader In Production of Auto Cockpits

1 July 1999

Visteon Finalizes Acquisition to Become World Leader In Production of Automotive Cockpits

    PARIS, July 1 -- With the acquisition of Plastic Omnium's
Interiors division now complete, Visteon Automotive Systems has moved firmly
into the lead in supplying complete cockpits to vehicle manufacturers around
the world.
    Visteon announced on May 11 that it would combine Plastic Omnium's
European interior engineering and manufacturing capabilities with its own
vehicle systems engineering and electronics expertise.  The acquisition allows
Visteon to offer vehicle manufacturers in Europe and throughout the world
super-integrated interior systems, including state-of-the-art electronic and
climate control systems as well as consumer-driven technology, styling, and
features.
    "The expertise and synergies we have gained as a result of this
acquisition are pivotal to Visteon's growth in Europe and the rest of the
world," said Stephen W. Delaney, vice president, Interior and Exterior Systems
group, Visteon.  "Finalization of this merger allows us to move forward with a
cohesive business strategy that will address the needs of our customers while
developing leading products to meet the needs of consumers."
    Flags bearing bright orange energy dots were hoisted over all 14 of
Visteon's newly acquired facilities to mark the occasion.  Signs with
Visteon's distinctive logo will continue to be in place at the remaining
facilities over the next couple of months.
    Joel Coque, the newly appointed managing director, Visteon Interior
Systems Europe and South America said that, "Closing this transaction and
becoming part of Visteon marks the dawn of an exciting new era."  He added
that, "The unveiling of Visteon signs demonstrates that we are now operating
as an integral part of Visteon's worldwide organization."
    Acquisition of the new business has resulted in a 17 percent increase in
Visteon's European sales.  Operations in Europe now total 23,000 employees in
18 technical and sales centers and 34 manufacturing facilities.
    The acquisition has also allowed Visteon to expand its global customer
base to include Renault, Renault Vehicules Industriels, Peugeot-Citroen, Fiat
Group, Nissan, Honda and Volkswagen/Seat.  More than 20 percent of Visteon's
annual European revenue is now generated by customers other than Ford Motor
Company -- nearly three years ahead of Visteon's 2002 target date.
    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 solutions to its customers.