Visteon Completes Sale of Automotive Lighting Business to Varroc Group

Visteon Corporation

today announced that it has completed the sale of its automotive lighting business to Varroc Group, a global provider of automotive parts, for $72 million in cash, subject to price adjustments. The two companies announced plans for the sale on March 12. "This transaction completes an important step in our strategic plan to focus on our core businesses and strong joint venture relationships," said Don Stebbins, Visteon chairman, chief executive officer and president. "I am pleased with the completion of the sale and with the efforts of both companies to ensure a smooth transition for our customers, suppliers and the employees involved."