The Hindu : Business : Visteon forms two ventures with Tatas

Online edition of India's National Newspaper
Wednesday, Jun 29, 2005

Business

Business

Visteon forms two ventures with Tatas

Staff Correspondent

MUMBAI: Visteon Corporation, a leading automotive supplier, has partnered with Tata AutoComp Systems Limited (TACO) to set up two 50:50 joint venture companies — TACO Visteon Automotive Products (TVAP) and Visteon TACO Engineering (VTEC). Both companies are based in Pune and are already operational. TVAP will make engine induction systems and lighting systems and will focus on customers in India. VTEC is expected to initially provide CAD, VAE and other engineering services for Visteon's offices globally. Its key customers are expected to be Visteon US and Visteon Europe. TVAP will also use VTEC's engineering services. Visteon is a leader in delivering climate, interior and electronics components and systems to automobile manufacturers. According to a statement issued by Visteon, the joint venture are an indication of India's growing importance in Visteon's global and Asia Pacific strategy and will leverage the strengths of both partners to bring new technologies and new opportunities in India's growing automotive market. The company operates more than 30 manufacturing facilities in the Asia-Pacific region in China, Japan, Korea, Thailand, the Philippines and India, serving global and regional automakers.

"This is a very important step for Visteon in India and in Asia Pacific and we are very excited to be partnering with TACO. This new partnership further cements Visteon's long term strategy for growth and commitment in India,'' said Bob Pallash, Vice president, Visteon Asia Pacific.

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