Visteon loses $95m as Ford cutbacks take toll

Auto parts maker Visteon, which employs 650 people in Belfast, reported a net loss for the third quarter after Ford, its largest…

Auto parts maker Visteon, which employs 650 people in Belfast, reported a net loss for the third quarter after Ford, its largest customer and former corporate parent, cut production after the September 11th attacks. The world's second-largest parts maker also said it was planning another round of restructuring, possibly including job cuts, aimed at lowering costs to survive in the weaker market for new vehicle sales expected next year.The firm's loss of $95 million (€105 million), or 74 US cents a share, was worse than earlier company predictions and analysts' projections.