Visteon completes sale of its lighting business to Varroc
DETROIT -- Visteon Corp. says it has completed the sale of its automotive lighting unit to Varroc Group for $72 million. Varroc, of India, also will acquire Visteon’s equity share of a Chinese joint venture, Visteon TYC Corp., for $20 million. Last year, the lighting operation generated sales of $531 million. The operation employs 4,200 people and has factories and engineering facilities in the Czech Republic, Mexico and India.
Visteon, of suburban Detroit, ranks No. 22 on the Automotive News list of the top 100 global suppliers with worldwide parts sales to automakers of $8.0 billion in 2011.