Auto supplier Visteon files Chapter 11 - New Mexico Business Weekly:

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Van Buren Township, Mich.-basecd Visteon (OTC BB:VSTN), which runs eighyt plants in Ohio, said the bankruptcy appliew only toits U.S. operations and is intended to “maximize the long-term value of the The filing comes nine years afterf Visteon was spun off from which has lined up tosupport debtor-in-possession financing for its “During the reorganization period, we will seek to address our capitao structure and legacy costs that are not sustainable givemn the current economic environment,” CEO Donald Stebbinsa said in a release. The company last year lost $681 milliom on $9.54 billion in revenue. It has lost monehy every year since it was separatef from Fordin 2000.
In additioh to the assistance from Ford, Visteon said it has backinb from other customers and planx to fund operations with cash andthe debtor-in-possession The company said it has filefd a number of motions in Delaware bankruptcy court to allow it to continue servint customers and keeping employe e obligations. Visteon employs about 31,000 workers in 27 countriese andhas U.S. operations in nine states. In its operations include a 65,000-square-foot plant in Springfielr that makes and assembles fuel delivery moduleand tanks. The company also has state operationxin Toledo, Bowling Green, Delphos and Tiffin.