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Visteon Completes Reorg, Exits Chapter 11 Bankruptcy

October 3rd, 2010

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Jeehan Fernandez – AHN News Writer

Van Buren Township, MI, United States (AHN) – Visteon Corp., a leading global automotive supplier said it has finished its reorganization and exited the U.S. Chapter 11 process.

The company completed all conditions of its plan of reorganization which was confirmed by U.S. Bankruptcy Court on Aug. 31 after overwhelming approval by all creditor and shareholder classes.

Visteon emerged with a stronger balance sheet and about $2.1 billion less consolidated debt than when the company and its certain affiliates voluntarily filed for Chapter 11 in the U.S. on May 28, 2009.

The firm improved its capital and cost structure significantly by reducing consolidated debt from some $2.7 billion at the time of filing to about $600 million now – a level that allows Visteon to be “very competitive” in Tier 1 automotive supplier industry.

“This marks a new beginning for Visteon, an opportunity to truly capitalize on many operational and financial improvements achieved before and during the reorganization process,” said Donald J. Stebbins, chairman, CEO and president.

“I am extremely grateful to our customers, suppliers, secured lenders, bondholders and many others for their support throughout this difficult process,” he added.

The new Visteon is focused on four strong product lines – climate, electronics, interiors and lighting with outstanding global manufacturing and engineering footprint with particular strength in fast-growing markets in Asia, Eastern Europe and Brazil.

“We have an experienced and talented employee base, complemented by strong joint venture partners and strategic alliances that provide a competitive advantage in key automotive markets of the world,” said Stebbins.

Visteon Corp. designs, engineers and manufactures innovative climate, electronic, interior and lighting products for vehicle manufacturers. The company has facilities in 26 countries and employs some 26,000 people. It has corporate offices in Van Buren Township, Mich., U.S.; Shanghai, China; and Chelmsford, UK.

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Posted in Auto Advantages

Tags: Bankruptcy, Chapter, Completes, Exits, financial improvements, joint venture partners, Reorg, strategic alliances, van buren township, van buren township mi, Visteon, visteon corp

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?10 Secret Tips of Successful Internet Businesses?

August 8th, 2010

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Internet Business Tip #1: Long sales letters have proven to be successful. Long sales letters provide customers with the information they want and entices them to buy.

Internet Business Tip #2: “Scientific Proof” are the two most important words and will make you the most money online if you follow strategies that have been scientifically proven.

Internet Business Tip #3: You need to learn how to use search engine optimization to earn top rankings in Google.

Internet Business Tip #4: Too many Internet businesses are product centric. An Internet business should revolve around a product LINE, not just a product.

Internet Business Tip #5: Business plans – 5 year business plans are silly because you can’t plan that far ahead. Instead, make 7 day, 30 day and 60 day business plans.

Internet Business Tip #6: Too many Internet businesses sell their eBooks for $19.97 which is too low. They do this because they don’t think people will spend more money than that on the Internet. This is a faulty belief. However, you see it all the time because one website business follows the model of another website business.

Internet Business Tip #7: Many Internet business entrepreneurs seek out joint venture partners once and are rejected so that don’t pursue any other joint ventures. Remember, most joint ventures will say “no”, so you have to keep trying until you get a joint venture.

The best way to find joint ventures is by going to a “live” event and networking. Only sending emails to set up joint ventures rarely works because it is too easy for potential partners to hit the delete key on their email.

Internet Business Tip #8: “Success leaves traces.” Follow and find successful people on the Internet.

Internet Business Tip #9: Take action before everyone else does. Take action now!

Internet Business Tip #10: Successful Internet businesses make more than 5-10,000 per month. There are very few Internet businesses that achieve this goal. Strive to be one of them.

Matt Bacak began investing his first earnings at the tender age of 12, a young businessman in the making. Now, 15 years later, Bacak survived failed businesses, botched partnerships, heavy credit card debt and bankruptcy – all in preparation for the accomplishments he has achieved today as a well-established Internet millionaire and best-selling author.

For more information, visit http://www.powerfulpromoter.com or sign up for his Powerful Promoting Tips at http://www.promotingtips.com

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