Visteon ties with Tata Auto for venture in Pune
Trinity Mirror — June 30, 2005

Leading automotive supplier Vtsteon Corporation has partnered with Tata Automotive Components (TACO) to set up two 50:50 joint venture companies — TACO Visteon Automotive Products (TVAP) and Visteon TACO Engineering (VTEC). Both companies are based in Pune and are already operational. Visteon is a leader in delivering climate, interior and electronics components and systems to automobile manufacturers.

The joint ventures are an indication of India's growing importance in Visteon's global and Asia Pacific strategy and will leverage the strengths of both partners to bring new technology and new opportunities in India's rapidly growing automotive market. Visteon operates more than 30 manufacturing facilities in the Asia-Pacific region in China, Japan, Korea, Thailand, the Philippines and India, serving global and regional automakers.

"This is a very important step (for Visteon in India and in Asia Pacific) and we are very excited to be partnering with TACO. These joint ventures allow Visteon to expand its footprint in India which is experiencing tremendous growth. This new partnership further cements Visteon's long-term strategy for growth and commitment in India said Bob Pallash, Vice President, Visteon Asia Pacific. TVAP, a stand-atone entity, separate from Visteon India, will manufacture engine induction systems and lighting systems. TVAP will focus on customers in India. VTEC is expected to initially provide CAD, CAE and other engineering services for Visteon's offices globally. Its key customers are expected to be Visteon US and Visteon Europe.

TVAP will also use VTEC's engineering services. Visteon Corporation is a leading full-service supplier that delivers consumer driven technology solutions to automotive manufacturers worldwide and through multiple channels including the global automotive aftermarket. Visteon has about 70,000 employees and a global delivery system of more than 200 technical, manufacturing, sales and service facilities located in 24 countries.