Visteon and Avtopribor Announce Joint Venture in Russia to Supply Vehicle Cockpit Electronics
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Press release date: August 26, 2010
New joint venture - Visteon Avtopribor Electronics - is set to become one of the largest automotive electronics suppliers in Russia, with full manufacturing and engineering capability
VLADIMIR, Russia -- Visteon Avtopribor Electronics, a new joint venture between Visteon Corporation, a leading global supplier of automotive systems, and Avtopribor, one of Russia's largest automotive components suppliers, will supply a wide range of cockpit electronics products to the growing Russian automotive market - including audio, infotainment, driver information and controls electronics.
Based in Vladimir, approximately 105 miles (170 kilometers) east of Moscow, Visteon Avtopribor Electronics is centrally located to support both domestic and global vehicle manufacturers in Russia. The new joint venture has full manufacturing and product development capabilities and will supply leading Russian vehicle manufacturers including AVTOVAZ, GAZ and Sollers, as well as Ford. The joint venture is also engaging with global vehicle manufacturers located in the country in support of its growth objectives.
"Visteon Avtopribor Electronics offers Visteon immediate access to the domestic Russian market through one of our established and highly respected partners," said Steve Meszaros, Visteon product group president. "Expanding into the important Russian market supports our strategy of offering our global customers fully localized products in markets where they are growing."
Combining Visteon's global cockpit electronics technology platforms with Avtopribor's strong position in the Russian market, the joint venture is set to become one of Russia's largest automotive electronics suppliers.
"Establishment of the new joint venture will allow us to offer world-class products to Russian customers and gives Avtopribor an opportunity to focus on other competitive products," said Alexey Melnikov, Avtopribor general director.
OAO "Zavod "Avtopribor" is one of the leading Russian suppliers of automotive components that develops, designs and manufactures wiper systems, instrument clusters, different types of transmitters and gauges and other components for Russian automakers and global vehicle manufacturers with localized production in Russia. The company is located in Vladimir, Russia, and employs approximately 2,500 people.
Visteon Corporation is a leading global automotive supplier that designs, engineers and manufactures innovative climate, interior, electronic and lighting products for vehicle manufacturers. With corporate offices in Van Buren Township, Mich. (U.S.); Shanghai, China; and Chelmsford, UK; the company has facilities in 25 countries and employs approximately 28,500 people.
Visteon news releases, photographs and product specification details are available at www.visteon.com
CONTACT: Media: Europe: Jonna Christensen, +44 1245 395038, Jchris18@visteon.com; North America: Jim Fisher, +1-734-710-5557, email@example.com; Investors: Michael Lewis, +1-734-710-5800, firstname.lastname@example.org