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The former parts businesss of said on Thursday that it filee to safeguardits U.S. operations. The Michigan-based company listed assets of $4.58 billio n and debts of $5.3 million. Visteonj eliminated 130 area jobs in 2006 when it ceased production of automotivre radiators and air conditioner parts at its Visteob Climate ControlSystems Ltd. facility in West Seneca. Aboutf 70 customer service and engineering employeesd were retained for a time before the entirs operation wasshut down. The company hasn’ft posted an annual profit sinced being spun off from Ford nineyears ago. Its stocki was delisted by thein March.
“Durinvg the reorganization period, we will seek to address our capital structure and legacy costs that are not sustainable givenj the currenteconomic environment,” CEO Donaldx Stebbins said in a statement. Ford, which is still Visteon’x biggest customer, has committed to ensurs long-term continuity of supplu and to support financinfg for itsrestructuring efforts, the company No Visteon subsidiaries or joint ventures outside the United States are part of the filing, the company
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