City of Chesapeake Economic Development - Relocation & Real Estate

FOR IMMEDIATE RELEASE
August 13, 2002

For Further Information:

Tammera L. Hallums
Visteon Corporation
313-755-0998
thallums@visteon.com
OR
Warren Harris, Director
City of Chesapeake Chesapeake Economic Development
(757) 382-8040

CHESAPEAKE, VIRGINIA…..Visteon Corporation, a leading supplier of integrated automotive systems, has announced plans to open a new manufacturing facility in Chesapeake, Virginia. The plant will manufacture advanced plastic fuel tank systems in support of Ford Motor Company's assembly facility in Norfolk.
"Visteon's decision to locate this new $17 million, 42 employee advanced manufacturing facility in Chesapeake is a great honor for the city and region," said Chesapeake Mayor Dr. William E. Ward. "The unique fuel tank systems that will be manufactured here will help create a new dimension to our economy and expand the region's capabilities in materials research and development."
The 73,000-square-foot Chesapeake facility will house Visteon's plastic fuel tank assembly operations and will be fully functional by spring 2003.
"Visteon has been welcomed into the Chesapeake family and we appreciate the steadfast support from the city, the region and the state of Virginia," said Jim Orchard, Visteon President, North American and Asia. "This new facility underscores Visteon's commitment to understanding the needs of its customers to obtain quality products quickly and to reduce their assembly time."

Visteon Corporation is a leading full-service supplier that delivers consumer-driven technology solutions to automotive manufacturers worldwide and through multiple channels within the global automotive aftermarket. Visteon has about 79,000 employees and a global delivery system of more than 180 technical, manufacturing, sales and service facilities located in 25 countries.
The City of Chesapeake Economic Development Department, the Hampton Roads Economic Development Alliance and the Virginia Economic Development Partnership assisted Visteon in their site location search. The Virginia Department of Business Assistance will provide workforce training services. The new facility will be located in the Crossways Commerce Center I building in Chesapeake's Greenbrier Business Area, leased by the Hampton Roads commercial real estate office of CB Richard Ellis.