Visteon Corporation (VC) Barclay’s Capital Global Automotive Conference November 14, 2011 1:25 pm ET Executives Unidentified Host – Barclays Capital Donald J. Stebbins – Chairman of the Board, President & Chief Executive Officer Martin E. Welch, III – Chief Financial Officer & Executive Vice President Analysts Unidentified Analysts PresentationUnidentified Host – Barclays Capital
We’re pleased to have with us Visteon. We just initiated on Visteon last week with $65 and a price target and a two week away, kind of an exciting midterm story we think with some optionality but we want to be cautious around some of the shorter term M&A prospects. More fundamentally Scott, especially in light of what you heard from Jim Farley about I think a couple of things, the midterm growth in China and emerging markets and as well the just rocket ship that Hyundai is in terms of global sales gains. Visteon brings a very interesting relationships on both fronts through its affiliation with HASCO Automotive it’s a 50/50 JVs in China, one of the market leaders therefore in the China auto interiors and other parts and with its ownership of Halla Climate Control one of the lead global partners of Hyundai and really the global partner in climate control. Pleased to have with us today Don Stebbins, the CEO and the new CFO Marty Welch. They’ll be making the presentation from there. Donald J. Stebbins Marty is starting his fifth week with us so please take it easy on him in the Q&A. But for those of you who don’t know Visteon we are a global automotive supplier of interiors, climate electronics, and lighting products. Global manufacturing and engineering footprint, we believe we’re strategically positioned to capitalize on emerging growth and through a 16 month stint in bankruptcy we’ve delevered the company quite substantial and have a significant technology portfolio.