Visteon becomes focussed electronics supplier through HVCC sale

Visteon has completed the sale of its approximately 70% ownership interest in Halla Visteon Climate Control (HVCC) to South Korean tyre supplier Hankook and an affiliate of private investment firm Hahn & Company for approximately US$3.6bn.

Over the past several years, Visteon has articulated a plan for a dramatic transformation of its business. Following the sale of HVCC, the ‘new Visteon’ will be a focussed automotive electronics supplier and a top player in a rapidly growing market for driver information and controls.