Visteon Takes Third-Quarter Loss of $200 Mln.
uto parts maker Visteon Corp. lost $200 million or $1.58 a share, compared with a loss of $1.44 billion or $11.48 a year earlier.
The loss was due to production cuts by Ford Motor Co., its former parent company, Bloomberg reported. Last year’s loss included costs of $1.3 billion, or $10.13 a share, due to tax writedowns.
Visteon could gain as much as $1.8 billion in the fourth quarter due to a bailout by Ford, which cut North American vehicle production by 2.5% in the quarter following higher cuts earlier in the year, Bloomberg reported.
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