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Visteon reaches European pricing settlement

US automotive supplier Visteon Corp. recently reached a settlement with Ford Motor Co. on European pricing issues. Terms were not disclosed, although in January, Visteon had estimated the amount in di…

US automotive supplier Visteon Corp. recently reached a settlement with Ford Motor Co. on European pricing issues. Terms were not disclosed, although in January, Visteon had estimated the amount in dispute at US$ 50 million before taxes for 2001. In a press release in the last week of June, Visteon said it agreed to provide Ford “with productivity price reductions for 2001 and 2002 that, together with the resolution of other commercial matters, are in line with Visteon“s previously established reserves and would not impact its financial outlook.”

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