Visteon Becomes Leading Cockpit Supplier in Europe and ExpandsGlobalCustomer Base With Acquisition of Automotive Interior Division ofPlastic Omnium Paris (ots-PRNewswire) - In a move that will make it themarketleader in automotive cockpits in Europe and expand its globalcustomer base, Visteon Automotive Systems announces its plans toacquire the automotive interior division of Plastic Omnium. Combining Visteon's vehicle systems engineering andelectronicsexpertise with Plastic Omnium's European automotive interiorengineering and manufacturing capabilities, Visteon will offervehicle manufacturers in Europe and throughout the worldsuper-integrated interior systems, including electronic andclimatecontrol systems as well as state-of-the-art consumer- driventechnology, styling and features. "This acquisition is a perfect fit for Visteon -- as itmarriesour global vehicle engineering and electronics expertise with theEuropean automotive interior capabilities and customer base ofPlastic Omnium," said Visteon president Craig Muhlhauser."Additionally, it immediately increases our European customerbaseand drives toward Visteon's vision to become the world's leadingautomotive systems supplier." "Visteon is the right company to leverage our strongautomotiveinterior capabilities and develop the innovative and cost-effectivesystems vehicle manufacturers are seeking today," said JoelCoque,managing director of the automotive interior division of PlasticOmnium. "Our automotive interior management team has worked hardtobuild a robust business and is now eager to take it to newheights." The automotive interior business of Plastic Omnium, with 1998revenues of FFR 2.8 billion (approximately $450 million USD), has14facilities in four countries: France, Spain, Italy and the UK. With the acquisition of the automotive interior division ofPlastic Omnium, Visteon's operations in Europe will now total23,000employees in 18 technical and sales centers and 34 manufacturingfacilities and $3.1 billion in annual revenue. This acquisitionresults in a 17% increase in Visteon's European sales. "Becoming a recognized market leader for integrated vehiclesystems in Europe is one of Visteon's top priorities," said SteveDelaney, Visteon vice president, Interior and Exterior Systems."Thisacquisition will enable Visteon to offer vehicle manufacturers inEurope and throughout the world cost-effective and innovativeintegrated interior and full cockpit systems that deliverultimateconsumer benefits of safety, comfort, entertainment andconvenience." The automotive interior business of Plastic Omnium currentlyserves Renault and Renault Vehicules Industriels, Peugeot-Citroen,Fiat Group, Nissan, Honda, Volkswagen/Seat, and others. Thisacquisition will increase Visteon's non-Ford annual revenue inEuropeto over 20% of its total European revenue. "Our acquisition of the automotive interior division ofPlasticOmnium enables us to become the European market share leader incockpits," said Steve Delaney. "It also provides us with anoutstanding European management team that is known for theirinnovation, entrepreneurial style, proven results and knowledgeofthe customer." The acquisition is expected to be finalized at the end of June1999. At the time of the deal's closure, Visteon's EuropeanInteriorsSystems will be headquartered in France and led by Joel Coque.Mr.Coque will become managing director of Visteon's InteriorSystems,Europe and South America. With a global delivery system of more than 100 technical,manufacturing, sales and service facilities located in 21countriesaround the world, Visteon is leveraging the talents of its 77,000employees to deliver innovative consumer-driven solutions to itscustomers.ots Original Text Service: Visteon Automotive SystemsInternet: http://www.newsaktuell.deContact: Denise Bither, dbither@visteon.com, 313-248-4063, fax,313-845-9111, or Shirley Hayden, shayden2@visteon.com,44-1268-404971, or fax, 44-1268-406216Web site: http://media.visteon.come-mail:

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