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Visteon closes three unprofitable UK plants

02/04/2009


Auto supplier Visteon has put three plants in the UK into insolvency, with the court-ordered administrators already cutting 565 jobs

Two of the sites, in Belfast and Enfield, are plastics moulders. Belfast makes intake manifolds and throttle bodies, and Enfield moulds interior parts including instrument panels and consoles. The third plant, in Basildon, makes radiators and other metal parts.
Visteon said the facilities have incurred “substantial losses” despite restructuring attempts, and the company must protect its overall global health.
The facilities have never been profitable since they were established in 2000, with total losses of ?669m. Visteon is its biggest creditor, owed in excess of ?400m.
When the global operation decided it could no longer support the UK manufacturing, it was forced to send the units into insolvency, and the administrators decided they had no option but to close the plants.

Plastics.ru

     








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