Combining Visteon's vehicle systems engineering and electronics expertise with Plastic Omnium's European automotive interior engineering and manufacturing capabilities, Visteon will offer vehicle manufacturers in Europe and throughout the world super-integrated interior systems, including electronic and climate control systems as well as state-of-the-art consumer- driven technology, styling and features.

The automotive interior business of Plastic Omnium, with 1998 revenues of FFR 2.8 billion (approximately $450 million USD), has 14 facilities in four countries: France, Spain, Italy and the UK. With the acquisition of the automotive interior division of Plastic Omnium, Visteon's operations in Europe will now total 23,000 employees in 18 technical and sales centers and 34 manufacturing facilities and $3.1 billion in annual revenue. This acquisition results in a 17% increase in Visteon's European sales. The automotive interior business of Plastic Omnium currently serves Renault and Renault Vehicules Industriels, Peugeot-Citroen, Fiat Group, Nissan, Honda, Volkswagen/Seat, and others. This acquisition will increase Visteon's non-Ford annual revenue in Europe to over 20% of its total European revenue.

The acquisition is expected to be finalized at the end of June 1999. At the time of the deal's closure, Visteon's European Interiors Systems will be headquartered in France and led by Joel Coque. Mr. Coque will become managing director of Visteon's Interior Systems, Europe and South America.

This is the first year of the award which recognizes Ford's superior global suppliers. The award was jointly developed by Ford and its suppliers "to drive improvement of supplier performance through a standard set of quality, cost, and delivery data." Hayes Lemmerz's Silver award was the highest award in the Suspension Components category globally.

"The Ford Silver World Excellence Award is a distinct honor and is further affirmation of the significance of bringing Hayes Lemmerz and CMI together to form a world class global leader in the suspension module market," said Ron Cucuz, CEO of Hayes Lemmerz. "We strive for excellent quality in all of our facilities and we have gained QS9000 and ISO 9001, as well as our customers' top quality ratings around the world. Still, we feel winning the top award for suspension components from an important customer such as Ford is a special honor."

Simpson is retiring after a 26-year career with Dana that included service as vice president of finance and treasurer of the company and president of Dana Asia Pacific. Simpson joined Dana in 1973 as controller of its Seco Electronics operation in Lancaster, S.C. In 1976, he moved to Dana's Industrial Power Transmission Division as treasurer and, in 1978 he was appointed controller of the Perfect Circle Products Division in Richmond, Ind. Simpson became director of international finance for Dana in 1982 and vice president of finance for Warner Electric in 1985. He was named president of Dana's Diamond Savings & Loan in 1987. In 1992, Simpson was promoted to president of Dana Asia Pacific. He was appointed vice president of finance and treasurer of Dana effective Jan. 1, 1996. He was promoted to chief financial officer and named to the Dana Policy Committee in January 1997.

Richter is a member of Dana's World Operating Committee, and in the past has served as a member of Dana's European Operating Committee and the South American Operating Committee and as chairman of the Investment Committee. He is currently a member of the Financial Executives Institute, the Strategic Planning Council of the Manufacturers' Alliance for Productivity and Innovation (MAPI), and the International Business Advisory Committee for the School of Business Administration of Bowling Green State University. He is a past member of the Advisory Council for the School of Applied Science of Miami University, the Board of Directors of Flower Memorial Hospital, and the Young Leader's Council of the United Way of Greater Toledo.