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Visteon Completes Initial Phase of Transaction to Consolidate its Global Climate Business within Affiliate Halla Climate



   Visteon Completes Initial Phase of Transaction to Consolidate its Global
           Climate Business within Affiliate Halla Climate Control

-- Phase 1 completion covered majority of Visteon's climate assets
transferring to 70 percent-owned Korean affiliate

-- Phase 2, covering certain Asia-based operations, on track for completion
late in first quarter 2013

-- Transaction valued at $410 million

-- Halla Visteon Climate Control becomes second largest global supplier of
automotive climate components and systems

-- Transaction is immediately accretive to Halla Climate Control

PR Newswire

VAN BUREN TOWNSHIP, Mich., Jan. 31, 2013

VAN BUREN TOWNSHIP, Mich., Jan. 31, 2013 /PRNewswire/ -- Visteon Corporation
(NYSE: VC) and its longtime Korean affiliate Halla Climate Control Corp. (HCC)
today announced they have completed the contribution of the majority of
Visteon's automotive climate business to HCC. The transaction was divided into
two phases, with the second phase on track to be completed late in the first
quarter of 2013.

The total purchase price, before certain adjustments, is unchanged from the
$410 million announced by the companies on Jan. 11. Based on adjustments,
Visteon received cash proceeds of $295.4 million for assets contributed to HCC
in the first phase, and expects to receive $111 million when certain
Asia-based operations transfer in the second phase, after certain local
regulatory and other processes are completed.

The companies on Jan. 11 announced an agreement to consolidate their
respective climate businesses and rename the combined enterprise Halla Visteon
Climate Control Corp. (HVCC), with Visteon retaining 70 percent ownership. HCC
is financing the transaction through a combination of cash on hand and
borrowing of approximately $295 million through new unsecured term loans in
the Korean market and existing lines of credit.

"We're pleased to establish this integrated, world-class organization that is
now the world's second largest global supplier of automotive climate
components and systems," said Tim Leuliette, president and CEO of Visteon.
"With its leading product and technology portfolio, $700 million three-year
business backlog and strong balance sheet, Halla Visteon Climate Control is
exceptionally well-positioned to deliver immediate value for customers and
shareholders. We believe the combination of technology and financial strength
that Halla Visteon represents will create opportunity for continued expansion
and growth in the years ahead."

Based in Korea, HVCC has a low-cost, global manufacturing footprint focused in
Asia, with 32 manufacturing sites supported by five global technical centers.
One of only two "full-line" climate suppliers in the industry, HVCC offers a
range of climate products including compressors; heating, ventilation and air
conditioning; fluid transport; powertrain cooling; and electric vehicle and
hybrid battery cooling.

Rothschild and Squire Sanders have been advising Visteon on the climate
transaction.

About Visteon
Visteon is a leading global automotive supplier delivering value for vehicle
manufacturers and shareholders through a family of businesses including:

  o Halla Visteon Climate Control, majority-owned by Visteon and the world's
    second largest global supplier of automotive climate components and
    systems.
  o Visteon Electronics, a leading supplier of audio/infotainment, driver
    information, center stack electronics and feature control modules.
  o Visteon Interiors, a global provider of vehicle cockpit modules,
    instrument panels, consoles and door trim modules.
  o Yanfeng Visteon Automotive Trim Systems Co., Ltd., a successful
    China-based partnership between Visteon and Shanghai Automotive Industry
    Corporation's automotive components group, Huayu Automotive Systems.

Through this family of enterprises, Visteon designs, engineers and
manufactures innovative components and systems for virtually every vehicle
manufacturer worldwide, and these businesses generated more than $12 billion
in sales in 2011, including unconsolidated operations. With corporate offices
in Van Buren Township, Mich. (U.S.); Shanghai, China; and Chelmsford, UK;
Visteon has facilities in 28 countries and employs through its various
businesses, including unconsolidated operations, approximately 55,000 people.
Learn more at www.visteon.com.

SOURCE Visteon Corporation

Website: http://www.visteon.com
Contact: Media: Jim Fisher, +1-734-710-5557, jfishe89@visteon.com; Investors:
Scott Deitz, +1-734-710-2603, sdeitz@visteon.com
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