Visteon has completed the sale of its automotive lighting business to Varroc, a provider of automotive parts, for $72m.
In 2011, Visteon's automotive lighting business had revenue of $531m and includes a range of exterior lighting products supplied to global vehicle manufacturers, including front and rear lighting systems, auxiliary lamps and key subcomponents like projectors and electronic modules.
Visteon president, chairman and chief executive officer Don Stebbins said that the transaction completes an important step in the company's strategic plan to focus on its core businesses and strong joint venture relationships.
"I am pleased with the completion of the sale and with the efforts of both companies to ensure a smooth transition for our customers, suppliers and the employees involved," Stebbins said.
The deal will include manufacturing and engineering plants in Novy Jicin and Rychvald, Czech Republic; Monterrey, Mexico; and Pune, India.
