Jan 14th, 2014 - Local News
Mlive - Some Johnson Controls Inc. (JCI) employees at the Holland Technical Center will be transferred to Visteon Corp. as a result a $264 million sale of JCI’s automotive electronics business announced Monday, Jan. 13.
But how many of JCI employees will be included in the deal remains to be seen, according to JCI spokeswoman Mary Kay Dodero.
JCI’s Technical Center at 915 E. 32nd Street employs persons involved in the company’s automotive electronics and interiors business.
“We’re waiting until the transaction is finalized so we know what locations are impacted,” Dodero said. She said those decisions will be made as the transaction proceeds toward a closing in the second quarter.
Randy Thelen, president of the Lakeshore Advantage economic development group for the Holland-Zeeland area, said it’s too early to know how many of the 1,500 JCI workers at the 32nd Street facility will be affected by the sale.
The business to be acquired from Johnson Controls provides automakers with driver information, infotainment, connectivity and body electronics products, according to a Visteon announcement.
The transaction involves about 4,800 employees, including about 1,000 engineers, electronics specialists and designers at seven research and development centers in Europe, North America and Asia.
Visteon spokesman Jim Fisher said the transaction will include some employees at JCI's Technical Center in Holland.
The sale will make Visteon one of the world’s three largest suppliers of vehicle cockpit electronics.
“The combined business will be a $3 billion global electronics enterprise with a No. 2 global position in driver information and above-average growth rates for the segment, supplying nine of the world’s 10 largest vehicle manufacturers,” according to a Visteon announcement.
Visteon, which was spun off from Ford Motor Co. in 2000, is headquartered in Van Buren Township near east of Ann Arbor.
The sale reinforces Visteon’s commitment to cockpit electronics as one of Visteon’s two core businesses, along with Halla Visteon Climate Control, the world’s No. 2 automotive climate control supplier, the announcement said.
"We look forward to continuing on our path of value creation for customers and shareholders by integrating this highly regarded business into the Visteon Electronics family," said Visteon President and CEO Timothy D. Leuliette in a statement.
"This is a strong strategic fit with our existing electronics portfolio and gives us the worldwide scale and cost efficiencies needed to support vehicle manufacturers’ global platforms and programs.
“It also diversifies our electronics customer base, solidifies our already strong global footprint, and brings new technologies, capabilities and outstanding engineers to help grow our business."
The JCI sale of its electronics business follows the sale of its Homelink division to Zeeland-based Gentex Corp. last year. That sale was completed for $700 million.
Apr 23rd, 2014 - Local News
MUSKEGON, Mich. (AP) — Officials with Consumers Energy said they're committed to helping find a new use for the site of a coal-fired power plant in western Michigan that's scheduled to close in two ...
Apr 22nd, 2014 - Local News
GRAND RAPIDS, Mich. (AP) — Dick Cheney said during a visit to Grand Rapids that he's "enormously grateful" to the donor who supplied the heart used in a transplant procedure performed on the former ...
Apr 23rd, 2014 - State News
IONIA, Mich. (AP) — A convicted murderer who escaped from a Michigan prison in February faces a court hearing Wednesday on escape, carjacking and kidnapping charges.
Michael Elliot is being arrai...
Apr 22nd, 2014 - State News
DETROIT (AP) — The U.S. Coast Guard says it has wrapped up more than four months of icebreaking to open shipping lanes on the lower Great Lakes.
Five U.S. and three Canadian vessels worked to cle...
Apr 23rd, 2014 - National News
DETROIT (AP) — A woman who successfully sued the University of Michigan over racial preferences says the U.S. Supreme Court's decision to uphold a state ban on using race in university admissions is...
Apr 22nd, 2014 - National News
WASHINGTON (AP) — The head of the National Transportation Safety Board is expressing alarm at a dramatic increase in hazardous liquids being hauled in freight trains.
NTSB Chairman Deborah Hersma...
Apr 23rd, 2014 - International News
PARIS (AP) — A study by the U.N. education agency says cellphones are getting more and more people to read in countries where books are rare and illiteracy is high.
Paris-based UNESCO says 774 mi...
Apr 22nd, 2014 - International News
KIEV, Ukraine (AP) — U.S. Vice President Joe Biden is warning Russia that "it's time to stop talking and start acting" to reduce tension in Ukraine.
Biden spoke today after meeting with Ukrainian...
Apr 23rd, 2014 - Sports News
DETROIT (AP) — Miguel Cabrera hit a two-run homer, Justin Verlander pitched seven solid innings and the Detroit Tigers held on for an 8-6 victory over the Chicago White Sox on Tuesday night.
Apr 22nd, 2014 - Sports News
BOSTON (AP) — The 118th running of the Boston Marathon was completed without incident and featured the first U.S. citizen in 31 years to win the event.
Former New York City Marathon champion and ...
Apr 8th, 2014 - Health News
LONDON (AP) — Doctors in London researching spinal cord injuries say they've had success using an experimental treatment on four patients now.
They've gotten them to stand and move their legs by ...
Jan 24th, 2014 - Health News
WASHINGTON (AP) — The nutrition facts label on the back of food packages is getting a makeover.
The Food and Drug Administration says knowledge about nutrition has evolved since the early 19...