Visteon Corporation has sold its non-core North American-based aftermarket under-bonnet (hood) and remanufacturing facilities to Centrum Equities, XV, LLC, an affiliate of Centrum Properties. The operations include a manufacturing plant in Sparta, Tennessee and two plants in Reynosa, Mexico.
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Terms were not disclosed. The sale does not include aftermarket mobile electronics products, which Visteon has kept as part of its electronics group.
“This transaction is another step in our plan to restructure, improve and grow our business by focusing on strategic product lines, including advanced climate, interiors and electronics products,” said Visteon president and chief operating officer Donald Stebbins.
Visteon’s Sparta facility (known as LTD Parts) manufactures starters and alternators for the aftermarket. The two Reynosa, Mexico, facilities manufacture aftermarket climate products -. including radiators, compressors and condensers -. and also remanufacture steering pumps and gears.
