Visteon Corporation (NYSE: VC); has announced that it has secured a 14-acre site adjacent to the Pipps Hill Business Park, where an office building will be constructed to help meet the growing needs of Visteon’s U.K. operations. The site is in close proximity to Visteon’s Basildon plant and will be the new location for Visteon’s Southeastern U.K. operations. Phase one for the project will begin with the construction of a 60,000-square-foot facility. Completion of phase one is scheduled for early 2002. After this initial phase is complete, nearly 400 Visteon employees will occupy the building.

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“The new building is a significant step forward for Visteon in the U.K., as it will be our largest independent technical site in the country, ” said Managing Director of Visteon U.K. Ltd. Len Tedesco. “Our aim is to occupy the building by the first quarter of 2002, but we are working closely with the developer to try and improve this timescale closer to the end of 2001. This new facility will enable us to support our customers even better.”

The terms have been agreed with the government development and regeneration agency, English Partnerships. Visteon’s site development partner on the project is Akeler, one of the leading developers and operators of business parks in the U.K. with more than 2 million-square-feet of property located throughout Britain and Europe.

Visteon Corporation is a leading full-service supplier that delivers consumer-driven technology solutions to automotive manufacturers worldwide and through multiple channels within the global automotive aftermarket. Visteon has a global delivery system of more than 130 technical, manufacturing, sales, and service facilities located in 23 countries. It has 81,000 employees working in three business segments: Dynamics and Energy Conversion; Comfort, Communication and Safety; and Glass.

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