Duren/Cologne, Germany - Visteon Automotive Systems has forged an important new relationship with Volkswagen A.G. as part of its goal of offering leading-edge technology components and systems to global vehicle manufacturers.

Visteon has secured a contract with Volkswagen in Germany to annually manufacture and ship more than 1.1 million transmission components to the auto manufacturer's transmission plant in Kassel. Visteon's Duren plant will manufacture up to 4,800 drive shaft bevel gears and differential pinions per day.

So far this year, Visteon has won $1.7 billion worth of new business contracts; 36 percent of the contracts are with customers other than Ford Motor Company and 37 percent of the contracts were won outside of North America. Visteon is on track to achieve a goal of obtaining 20 percent of revenue from customers other than Ford by 2002.

Visteon supplies components and systems to nearly every vehicle manufacturer in the world and will continue to expand these relationships by offering them leading-edge, consumer-driven systems solutions, and unparalleled design and engineering capabilities.

Visteon competed against several other suppliers to win the long-term contract from Volkswagen. Visteon employs around 4,000 people in Germany -- in Aachen, Berlin, Duren, Cologne, Pulheim-Brauweiler, Morfelden-Walldorf near Frankfurt, Munich, Saarlouis, Stuttgart, Wolfsburg and Wulfrath.

With a global delivery system of more than 125 technical, manufacturing, sales and service facilities located in 21 countries, Visteon Automotive Systems is leveraging the talents of its 77,000 employees to deliver innovative, consumer-driven systems solutions to its customers. (Dec. 29, 1999)