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The former parts business of said on Thursday that it filede to safeguardits U.S. operations. The Michigan-based companyt listed assets of $4.58 billion and debts of $5.3 Visteon eliminated 130 area jobs in 2006 when it ceased production of automotived radiators and air conditioner parts at its Visteon Climatw ControlSystems Ltd. facility in West About 70 customer service and engineerinvg employees were retained for a time before the entire operation wasshut down. The company hasn’t postex an annual profit since being spun off from Ford nineyears ago. Its stocm was delisted by the in March.
“Durinhg the reorganization period, we will seek to address our capitalo structure and legacy costs that are not sustainablw given the currenteconomic environment,” CEO Donald Stebbins said in a statement. Ford, which is still Visteon’s biggest customer, has committec to ensure long-term continuity of supply and to support financing for itsrestructuring efforts, the companyy said. No Visteon subsidiariesz or joint ventures outsids the United States are part ofthe filing, the company said.
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