08-02-2007 Auto
parts maker Visteon Corp said yesterday it would buy more Chinese parts to cut
production costs.
Currently, 20 percent of the firm's global purchases
are from China, while 50 percent of its Asian suppliers are Chinese, said Sylvain
Gaillet, global purchasing director of Visteon's Asia-Pacific and Electronics
Divisions.
"China is critical to our success. This is why we have
located our global electronics and our regional purchasing at our China technical
center in Shanghai," he said.
He said the company hoped to increase
its purchases of Chinese electronics by 30 percent. It also plans to develop local
suppliers for Visteon's global network.
The company made the announcement
amid restructuring efforts and business portfolio changes to improve operational
and financial results in 2008. It said recently it would close an eastern Indiana
auto-parts plant in the United States, part of efforts that began last year to
close, fix or sell 30 plants.
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