LONDON - Visteon has identified 20 underperforming or non-strategic plants that could be sold or closed.
The US supplier would not identify the plants but confirmed that it is cutting jobs at two UK factories. These are located in Swansea, south Wales, and Belfast, Northern Ireland.
Visteon CEO Michael Johnston said the plants under review "are primarily in North America and Europe." He was speaking during an analysts conference call on Tuesday, November 8.
"We can't identify the individual plants as there are discussions going on right now," he said. "We're undertaking an intense review."
Visteon said last week it will transfer 100 employees from its chassis components factory in Swansea to a Ford Motor Co. engine plant in Bridgend, south Wales. A voluntary buy-out program aimed at shedding up to 94 employees is planned at its Belfast plant, which makes engine management and fuel systems.
Visteon operates 41 factories in 11 European countries. Many are older factories producing components no longer considered strategic by Visteon.
Visteon's three core businesses are climate control systems, interiors and electronics. Non-core products are chassis systems, powertrain, induction systems and glass.
Visteon was spun off from Ford in June 2000. Since then it has struggled to shed a legacy of money losing operations and high labor costs in the US.