The actions taken by Visteon Corporation in the past 12 months will put the company in a strong position for the future but the uncertain economic conditions across Europe and globally will make 2003 another tough and competitive year for the automotive industry, according to Visteon’s European president Dr. Heinz Pfannschmidt.
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Speaking at a series of European media briefings, Pfannschmidt said Visteon in Europe will benefit from initiatives and restructuring actions that the company undertook in 2002 and will continue to implement in 2003.
“We have established a strong European management team and streamlined the workforce to ensure maximum efficiencies,”said Pfannschmidt. “We also have improved our manufacturing processes and quality and developed systems integration technologies that will ensure more conquest business in the future.”
Pfannschmidt, who is approaching the second anniversary of his appointment at Visteon, detailed the areas targeted for growth: “Visteon is becoming an increasingly strong and innovative supplier in key areas: cockpit systems, climate control, electronics and multimedia. We will also focus efforts in the aftermarket across Europe where we have some strong and innovative products.”
