Struggling auto parts maker Visteon has put two of its five plants in Germany up for sale in a move that will halve its German workforce of 2,800 employees, it was reported on Thursday.
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Factories in Wuelfrath and Dueren no longer fit the group’s strategy of focusing on vehicle interiors, electronics and climate controls, a spokeswoman told Reuters.
The Wuelfrath plant employs 580 and builds steering assemblies while the Dueren facility has 850 staff and makes drivetrains and differentials.
The spokeswoman reportedly said Visteon was prepared to sell the plants to either industrial or financial buyers but she gave no details about where the sales process stood.
Reuters noted that Visteon returned nearly two dozen plants and around 18,000 workers to former parent Ford last year to cut costs, but is still in the midst of a sweeping reorganisation that will close or sell off more factories.
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By GlobalDataThe report added that Valeo on Thursday again declined comment on speculation that it is interested in buying Visteon, which a source familiar with the matter has said hired investment bank JP Morgan Chase & Co to explore its strategic options.
Valeo had said on 4 August it would not discuss any interest in Visteon but reiterated it was examining all automotive assets that come on to the market, Reuters added.
