Visteon Corporation Announces Share Repurchase Program

VAN BUREN TOWNSHIP, Mich., Dec. 12, 2007 — Visteon Corporation (NYSE:VC) today announced that its board of directors has authorized a share repurchase program of up to 2 million shares of its common stock, which may be repurchased over the next 24 months. Shares repurchased through the program will be used solely to fund ongoing employee compensation and benefit plan obligations.

Purchases under the program will be funded from Visteon’s existing cash balance. Repurchases under the program may be made through open market purchases or privately negotiated transactions in accordance with applicable federal securities laws. The timing, amount, manner and price of repurchases, if any, will be determined by Visteon, at its discretion, and will depend upon, among other things, the stock price, economic and market conditions and such other factors as Visteon considers appropriate. The program may be extended, suspended or discontinued at any time, without notice.

Visteon Corporation is a leading global automotive supplier that designs, engineers and manufactures innovative climate, interior, electronic and lighting products for vehicle manufacturers, and also provides a range of products and services to aftermarket customers. With corporate offices in Van Buren Township, Mich. (U.S.); Shanghai, China; and Kerpen, Germany; the company has facilities in 26 countries and employs approximately 43,000 people.

Source: Visteon Corporation

Bookmark/Search this post with:

 •    •    •    •    •    •    •    •    •    •