Visteon to create jobs with new manufacturing plant in Eureka, Missouri, to support business growth
Global automotive supplier Visteon Corporation (NYSE: VC) has begun building a manufacturing and assembly facility in Eureka, Mo., to support new business in North America with automakers including Chrysler Group. The plant is expected to begin production in the summer of 2008 and employ about 200 people by early 2009.
Visteon officially launched the project today in a ceremony at the plant site in Eureka Commercial Park, located along I-44 about 20 miles southwest of St. Louis. The event was attended by representatives of Visteon, the City of Eureka, the St. Louis County Economic Council and the St. Louis Regional Chamber and Growth Association.
The Visteon plant initially will supply door panels, consoles and cockpits to Chrysler Group’s St. Louis North Assembly Plant.
Visteon President and Chief Operating Officer Donald J. Stebbins said the new plant supports Visteon’s three-year plan to restructure, improve base operations and grow the business.
“Our significant business growth requires us to add strategic manufacturing capacity, and we’re pleased to be creating new jobs in Missouri,” Stebbins said. “This project demonstrates the confidence our customers are placing in Visteon to meet their quality, delivery and cost requirements for vehicle systems.”
The new Missouri facility will use innovative manufacturing processes designed to deliver interior products for in-sequence, just-in-time installation in vehicles. Visteon’s products and production processes are designed to reduce tooling costs, cycle time and scrap, while promoting recyclability.
Julie Fream, vice president of Visteon’s North America customer groups, commended the efforts of state, regional and local officials in helping Visteon select the site. Visteon received property tax abatements, payroll tax incentives and training grants for the new facility.
“We are very appreciative of the assistance and support received from the Missouri Department of Economic Development, the St. Louis County Economic Council and the St. Louis Regional Chamber and Growth Association,” Fream said.
“Business growth is a key component of Visteon’s improvement plan,” she added. “Through the commitment of our employees and the cooperation of state and local governments, this will be a cost-competitive manufacturing operation that will effectively serve our customers, while creating opportunities for our employees and the local community.”
Eureka Mayor Kevin M. Coffey welcomed Visteon’s decision to build in the community. “We are pleased to have a global company of Visteon’s caliber choose our community for its new manufacturing plant, and we look forward to the new jobs and economic stimulus that this new facility will generate,” Coffey said.
St. Louis County Executive Charlie A. Dooley said: “I am extremely pleased to welcome Visteon Corporation to St. Louis County. This commitment to our community is exciting and welcome news.”
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