DETROIT (Reuters) -- Auto parts supplier Visteon Corp. reported a quarterly loss today and said it was exploring the sale of "non-core" assets as it looks to streamline its corporate structure and boost margins.
The company also reiterated its interest in owning 100 percent of South Korea's Halla Climate Control Corp. Visteon currently owns 70 percent.
"We believe that owning 100 percent makes sense for us," CEO Don Stebbins said when asked about the Halla stake. "However, it is not at any price that we would do that."
Visteon has been facing breakup pressure from some board members and shareholders, who believe the company is worth more in parts than as a whole.
The company is looking for a buyer for Grace Lake Corporate Center, a support center in Michigan that Stebbins said has a book value of $75 million to $80 million.
"We will continue to divest what I would look at as non-core assets to really get down to just running the business," he said.
For the fourth quarter, Visteon reported a net loss of $26 million, or 51 cents per share. A year earlier, it posted net income of $1.13 billion, including $1.06 billion in reorganization gains.
Quarterly revenue slipped to $1.86 billion from $1.9 billion.
The former affiliate of Ford Motor Co. has four businesses: climate control, interiors, electronics and lighting. Among its most valuable assets are its stakes in Halla and Yanfeng Visteon Automotive Trim Systems, its joint venture in China with Huayu Automotive Systems.
In November, Visteon signed a non-binding pact to sell the majority of its interiors business to Yanfeng Visteon.