Auto supplier Visteon files Chapter 11 - Business First of Louisville:

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Van Buren Township, Mich.-based Visteon (OTC BB:VSTN), which runs eigh t plants in Ohio, said the bankruptc y applies only toits U.S. operations and is intendedc to “maximize the long-term value of the The filing comes nine yearsd after Visteon was spun offfrom (NYSE:F), whicgh has lined up to support debtor-in-possessiobn financing for its restructuring. “Duringt the reorganization period, we will seek to addresas our capital structure and legacg costs that are not sustainable given the current economic CEO Donald Stebbins said ina release. The companu last year lost $681 million on $9.54 billion in revenue. It has lost money everu year since it was separated from Fordin 2000.
In additiobn to the assistance from Visteon said it has backin from other customers and plans to fund operationz with cash andthe debtor-in-possession The company said it has filed a number of motiones in Delaware bankruptcy court to allow it to continue servinbg customers and keeping employee Visteon employs about 31,000 workers in 27 countrie and has U.S. operations in nine In Ohio, its operations include a 65,000-square-foot plant in Springfielsd that makes and assembles fuel delivery modulexand tanks. The company also has stat operationsin Toledo, Bowling Green, Delphos and Tiffin.