Visteon has completed the sale of its interiors operations in India to Reydel Automotive Holdings.
The supplier’s interior business was acquired by Cerberus Capital Management in November and Cerberus is reintroducing the 100-year-old Europe-based Reydel brand to the market.
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Other interiors transaction closings with Reydel are expected to be completed by the end of the first half of 2015, with timing dependent on government approvals.
The India interiors operations sold to Reydel Automotive include all manufacturing operations in Pune and Visteon’s interiors business in Chennai although Visteon retains the Chennai facility itself.
The operations acquired by Reydel Automotive have approximately 550 employees and produce instrument panels, door panels, floor consoles and other plastic trim parts for various vehicle manufacturers.
