DETROIT - Visteon Corp. will spend more than $300 million to build new global and European headquarters.
The supplier on Thursday, May 23, confirmed plans to move its corporate base from Dearborn, Mich., to a 265-acre site about 15 miles to the west in Wayne County's Van Buren Township.
The complex is expected to open in mid-2004 with up to 4,000 employees. Visteon is investing about $300 million on top of $53 million to $85 million in public incentives.
Visteon also will expand a site in Kerpen-Sindorf, Germany, near Cologne, to serve as its European headquarters.
That site will employ about 650 people and open in late 2003 or early 2004. Visteon wouldn't disclose spending.
Visteon will keep current metro Detroit customer centers and maintain a presence in Dearborn, but the move will shift the supplier from the shadow of former parent and major customer Ford Motor Co.