Those noncore businesses, largely in Europe, include chassis and powertrain operations, Johnston said in an interview at Visteon headquarters in Van Buren Township, Mich.
"These are sellable plants," he said. "They have value, with a good book of business. They're just not in products that are core to us."
If those businesses were sold immediately, Visteon would have annual revenue of about $9.4 billion, or roughly half the $18.57 billion it had when Ford spun off its parts businesses to create Visteon as an independent company in 2000.
Visteon lost $188 million in the first quarter and $1.2 billion in the second quarter.
Ford is taking back money-losing operations with revenue of about $7.4 billion.
Ford was expected on Saturday, Oct. 1, to make final a deal negotiated in May to take back the 23 Visteon factories and support sites and about 18,000 UAW hourly employees.
Another 5,000 salaried Visteon employees will be leased to the new Ford affiliate, Automotive Components Holdings LLC. Ford's bailout cost through 2009 will be at least $2.25 billion, and could approach $3 billion.
The costs include $1.25 billion to forgive Visteon retirement liabilities in 2004 and 2005, $500 million to buy out 5,000 hourly UAW workers and another $475 million to cover operating losses at the locations through 2006.
The deal assures Ford an uninterrupted flow of parts in a supplier environment beset by Chapter 11 filings, said Al Ver, a Ford vice president who is the CEO of Automotive Components Holdings.