Visteon Becomes Leading Cockpit Supplier in Europe and Expands Global Customer Base With Acquisition of Automotive Interior Division of Plastic Omnium Paris (ots-PRNewswire) - In a move that will make it the market leader in automotive cockpits in Europe and expand its global customer base, Visteon Automotive Systems announces its plans to acquire the automotive interior division of Plastic Omnium. Combining Visteon's vehicle systems engineering and electronics expertise with Plastic Omnium's European automotive interior engineering and manufacturing capabilities, Visteon will offer vehicle manufacturers in Europe and throughout the world super-integrated interior systems, including electronic and climate control systems as well as state-of-the-art consumer- driven technology, styling and features. "This acquisition is a perfect fit for Visteon -- as it marries our global vehicle engineering and electronics expertise with the European automotive interior capabilities and customer base of Plastic Omnium," said Visteon president Craig Muhlhauser. "Additionally, it immediately increases our European customer base and drives toward Visteon's vision to become the world's leading automotive systems supplier." "Visteon is the right company to leverage our strong automotive interior capabilities and develop the innovative and cost- effective systems vehicle manufacturers are seeking today," said Joel Coque, managing director of the automotive interior division of Plastic Omnium. "Our automotive interior management team has worked hard to build a robust business and is now eager to take it to new heights." The automotive interior business of Plastic Omnium, with 1998 revenues of FFR 2.8 billion (approximately $450 million USD), has 14 facilities in four countries: France, Spain, Italy and the UK. With the acquisition of the automotive interior division of Plastic Omnium, Visteon's operations in Europe will now total 23,000 employees in 18 technical and sales centers and 34 manufacturing facilities and $3.1 billion in annual revenue. This acquisition results in a 17% increase in Visteon's European sales. "Becoming a recognized market leader for integrated vehicle systems in Europe is one of Visteon's top priorities," said Steve Delaney, Visteon vice president, Interior and Exterior Systems. "This acquisition will enable Visteon to offer vehicle manufacturers in Europe and throughout the world cost-effective and innovative integrated interior and full cockpit systems that deliver ultimate consumer benefits of safety, comfort, entertainment and convenience." The automotive interior business of Plastic Omnium currently serves Renault and Renault Vehicules Industriels, Peugeot- Citroen, Fiat Group, Nissan, Honda, Volkswagen/Seat, and others. This acquisition will increase Visteon's non-Ford annual revenue in Europe to over 20% of its total European revenue. "Our acquisition of the automotive interior division of Plastic Omnium enables us to become the European market share leader in cockpits," said Steve Delaney. "It also provides us with an outstanding European management team that is known for their innovation, entrepreneurial style, proven results and knowledge of the customer." The acquisition is expected to be finalized at the end of June 1999. At the time of the deal's closure, Visteon's European Interiors Systems will be headquartered in France and led by Joel Coque. Mr. Coque will become managing director of Visteon's Interior Systems, Europe and South America. With a global delivery system of more than 100 technical, manufacturing, sales and service facilities located in 21 countries around the world, Visteon is leveraging the talents of its 77,000 employees to deliver innovative consumer-driven solutions to its customers. ots Original Text Service: Visteon Automotive Systems Internet: Contact: Denise Bither,, 313-248-4063, fax, 313-845-9111, or Shirley Hayden,, 44-1268-404971, or fax, 44-1268-406216 Web site: e-mail:

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