According to informed sources, Visteon, a US auto parts supplier, is considering selling its automotive lighting components and interiors business, focusing on the fast-growing Asian market.
Informed sources also revealed that the automotive lighting and interior business generated $2.7 billion in revenue for Visteon last year, and the combined value of these two businesses is around $450 million.
Visteon CEO Don Stebbins has hired Goldman Sachs to conduct a wide range of strategic investigations. Visteon’s board members are consulting with JPMorgan Chase and Citigroup to list companies that are interested in purchasing and meeting relevant conditions.
Visteon’s automotive interior business last year generated revenue of US$2.2 billion and gross profit margin of 6%; automotive lighting systems revenue was US$456 million and gross margin was 2.6%.
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