JAPAN: Visteon sets up venture with Nichirin in Europe
Visteon Corp. agreed to form a joint venture in the Czech Republic with Japan's Nichirin Co. to make air-conditioning hoses for automakers in Europe. Visteon also plans to buy a 10 percent stake in Nichirin, which would be valued at about $2.2 million, based on Tuesday's closing share price. Visteon will own 70 percent of the joint venture, with the rest held by the Himeji, Japan-based maker of vehicle hoses. The companies didn't disclose other financial terms.
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