Visteon announces reporting segments under new structure

US glass manufacturer Visteon Corp. announced on 3 July new financial reporting segments to come into line with its recently implemented re-organization. The new structure is focused on customer busin…

US glass manufacturer Visteon Corp. announced on 3 July new financial reporting segments to come into line with its recently implemented re-organization. The new structure is focused on customer business groups, and supported by centralized product development, manufacturing and administrative functions. Consistent with the new organization, Visteon“s segment reporting will be divided into Automotive Operations and Glass Operations. Automotive Operations provides various automotive systems and components mainly to OEM customers. Glass Operations supplies architectural and flat glass to a broad customer base, including OEMs. The new segments replace the previous product-oriented reporting segments: Comfort, Communication and Safety; Dynamics and Energy Conversion; and Glass. Since implementation of the new organizational structure in April 2001, major benefits already have been realized, including significant new business wins, reduced structural costs and increased leverage from centralization of manufacturing, product development and other staff functions. Visteon has 82,000 employees and a global delivery system of more than 130 technical, manufacturing, sales, and service facilities located in 25 countries.