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EXHIBIT 99.1
Contact(s): Media Inquiries: Visteon Corporation
Liane Smyth Public Affairs
313-755-2916 5500 Auto Club Drive
[email protected] Suite 2W338
Dearborn, MI 48126
Facsimile:
313-755-7983
Investor Inquiries:
Kent Niederhofer
313-755-3699
[email protected]
[VISTEON LOGO]
VISTEON CORPORATION ANNOUNCES REDUCTION IN THIRD QUARTER EARNINGS ESTIMATES
DEARBORN, Mich., August 30, 2000 - Visteon Corporation (NYSE: VC) today
reported that the recently announced Ford production cuts will have an adverse
impact on the company's estimated earnings for the third quarter.
The company estimated that the third quarter changes in Ford's truck production
will affect its third quarter earnings by approximately 12 to 14 cents per
share. However, Visteon believes that the company could recover some of the lost
revenue later in the year as Ford evaluates actions to make up for lost
production.
Visteon Corporation is a leading full-service supplier that delivers
consumer-driven technology solutions to automotive manufacturers worldwide and
through multiple channels within the global automotive aftermarket. Visteon has
a global delivery system of more than 130 technical, manufacturing, sales, and
service facilities located in 23 countries. It has 81,000 employees working in
three business segments: Dynamics and Energy Conversion; Comfort, Communication
and Safety; and Glass.
This press release contains forward-looking statements made pursuant to the
Private Securities Litigation Reform Act of 1995. Words such as "estimated" and
"potentially" signify forward-looking statements. Forward-looking statements are
not guarantees of future results and conditions but rather are subject to
various risks and uncertainties, some of which are and will be identified as
"Risk Factors" in our SEC filings. See "Risk Factors" section of our prospectus
dated June 13, 2000 as filed with the SEC on June 14, 2000.
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Should any risks and uncertainties develop into actual events, these
developments could have material adverse effects on our business, financial
condition and results of operations.
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Visteon news releases, photographs and product specification details
are available at www.visteon.com
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