FOR IMMEDIATE RELEASE
August 13, 2002

Ellen Qualls
www.governor.state.va.us
(804) 786-2211, x2379


Tammera L. Hallums
Visteon Corporation
(313) 755-0998
Jill Lawrence
VEDP
(804) 371-0049
Visteon To Open New Manufacturing Facility In Chesapeake
-Governor Warner announces new jobs and investment in auto industry -


RICHMOND - Governor Mark R. Warner today announced that Visteon Corporation, a leading supplier of integrated automotive systems, has announced plans to open a new $17 million manufacturing facility in the City of Chesapeake. The plant, which will employ about 42 people, will manufacture advanced plastic fuel tank systems to support Ford Motor Company's truck assembly facility in Norfolk.

“I am pleased to welcome the Visteon Corporation to the Commonwealth,” said Governor Warner. “Visteon brings good jobs to Chesapeake and is a valuable addition to the region’s thriving automotive industry.”

Headquartered in Dearborn, Michigan, 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 about 79,000 employees and a global delivery system of more than 180 technical, manufacturing, sales and service facilities located in 25 countries. The Chesapeake facility will apply the most advanced plastics technologies to the design and manufacture of fuel tank systems for trucks assembled at Ford’s Norfolk assembly plant. It will be located in the Crossways Commerce Center I building in Chesapeake’s Greenbrier Business Area.

“Visteon’s investment in localized manufacturing demonstrates our commitment to our customer while enabling us to contribute to the economic vitality of new communities,” said Jim Orchard, Visteon President, North America and Asia. “We're grateful for the warm welcome extended to us by the City of Chesapeake and the Commonwealth of Virginia.”

The Virginia Economic Development Partnership, the Hampton Roads Economic Development Alliance and the City of Chesapeake Economic Development Department assisted Visteon with its decision. The Virginia Department of Business Assistance will provide workforce training services.

“Visteon’s decision to locate this facility in Chesapeake is a great honor for the city and region,” said Chesapeake Mayor Dr. William E. Ward. “The unique fuel tank systems that will be manufactured here will help create a new dimension to our economy and expand the region’s capabilities in materials research and development.”

VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP

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