Authoritative sources in the US have confirmed Visteon chief executive Don Stebbins’ comments the supplier could dispose of its lighting business.
A source with direct knowledge of Visteon backed up Stebbins’ views that discussed the possibility of a sale to different owners, although price details were not available.
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Stebbins is reported as saying: “I would think if somebody else owned it [lighting], it’s possible that they could do better,” a statement the source confirmed as accurate. “I would not dispute that,” it said to just-auto.
Speculation has swirled the Tier 1 supplier could relinquish two of its units, possibly lighting and interiors, with Stebbins’ comments appearing to back up a potential sale.
The source was unable to provide any disposal timetable, but confirmed Stebbins remarks to a “hypothetical” question put to him.
“It was purely a hypothetical question,” said the source. “We have not commented on the speculation of that business or any other part.
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By GlobalData“Don…emphasised that the portfolio optimisation is an important part of the value story.”
Visteon is one of a number of suppliers that went bankrupt in recent years to emerge from bankruptcy under the control of financiers.
Visteon’s lighting unit reportedly has the lowest margins of the company’s four main businesses, which also include climate control, interiors and electronics.
