Visteon confirms Halla Climate Control Board approval of agreement to consolidate Visteon Climate Operations into Halla

Visteon Corporation confirmed that the Board of Directors of its Korean affiliate Halla Climate Control Corp. (HCC) has approved a definitive agreement to consolidate most of Visteon's automotive climate business into HCC. Approval of the agreement by Visteon's Board
of Directors and entry into the final agreement are expected soon. Visteon also confirmed that the transaction, first outlined in September 2012, is on track to be completed in the first quarter of 2013.

Visteon owns 70 per cent of HCC and would have the same ownership level in the combined business. The consolidation would create the second largest global supplier of automotive climate components and systems.

Posted in: Accessories,Automotive Climate Components,Halla Climate Control Corp.,HCC,International,Visteon