Visteon emerged six months ago from bankruptcy and are now “aggressively” looking for acquisitions, says CEO Donald Stebbins, to strengthen their four product groups: lighting, interiors, electronics, and climate systems.
Visteon reduced debt by about $2.1bn during 16 months of court protection; the company spent most of 2009 in bankruptcy, then posted a $1.13bn profit in the last three months of 2010. Stebbins said it has been some time since Visteon has been in a position to make acquisitions. Speaking at a breakfast sponsored by a Detroit-area law firm, Stebbins said it had been quite awhile since Visteon were in a position to seek acquisitions, but now the supplier are “aggressively looking for opportunities”.
