Divestiture of Interiors Plant in Berlin Supports Company’s Focus on Automotive Cockpit Electronics
Visteon Corporation (NYSE:VC) has signed an agreement to sell its non-core automotive interiors plant in Berlin, currently held by Visteon Deutschland GmbH and APTUS GmbH, to APCH Automotive Plastic Components Holding GmbH (APCH), effective Dec. 1. This marks the sale of Visteon’s only remaining interiors operation not covered by the 2014 divestiture of the interiors business to Reydel Automotive Holdings B.V., as Visteon focuses on its automotive cockpit electronics business.
APCH will be led by Mark Blair, a former plant manager of the Berlin interiors manufacturing plant. The transaction, which is subject to certain closing conditions, effectively results in a management buyout of the manufacturing operation, including the operation’s approximately 400 employees, in support of its customers. Terms were not disclosed.
This transaction has no impact on Visteon electronics facilities in Germany.