board Wednesday will reportedly consider plans to spin out its part-making unit,
, as well as proposals to boost the company's shares with a dividend increase or a stock buyback.
An announcement on the specifics on how Ford will make Visteon independent is expected this week, according to a report in Wednesday's
Wall Street Journal
Visteon is the world's No. 2 auto parts maker -- behind
-- with operations in 21 countries. Its automotive products include chassis systems, climate control systems and complete instrument panel; nonautomotive products include theater seats and power generators. Ford accounts for more than 90% of Visteon's sales.
Visteon has an alliance with
to develop a computing platform for cars.
Ford shares closed Wednesday up 1 11/16, or 3.3%, at 53 5/8.