KERPEN, Germany -- Struggling Visteon Corp. has put two of its five German plants up for sale.
The move is expected to help Visteon halve its German work force of 2,800.
Factories in Wuelfrath, near Dusseldorf, and Dueren, between Cologne and Aachen, no longer fit the group's strategy of focusing on vehicle interiors, electronics and climate controls, the company said.
A number of parts makers have been identified as potential buyers of the plants, which supply BMW, Ford, Volvo, Volkswagen, Peugeot and other automakers.
France's Valeo SA has been mentioned as a possible buyer. But at least one analyst doesn't consider it the top candidate. "This does not fit into its portfolio," says Ferdinand Duden-hoeffer, director of the Center of Automotive Research at the University of Applied Sciences Gelsenkirchen.
Dudenhoeffer says the plants more likely will be bought by Germany's ZF Friedrichhafen, U.S. supplier TRW Automotive Inc. or the United Kingdom's GKN PLC.
The search for new owners for both factories won't be eased by Germany's high labor costs. In addition, Karl Reuber, managing director of the Cologne branch of IG Metall, Germany's largest industrial union, wants potential buyers to promise "no operational layoffs" and "job security for 10 years."
You may e-mail Wolf R. Ussler at [email protected]