Jan 3 Automotive parts supplier Visteon Corp
said its South Korean unit Halla Climate Control Corp's
relations with Hyundai Motor Corp remained strong,
after a media report that the car maker was changing its
The Korea Economic Daily said Hyundai Motor
changed its supplier to Denso Corp for its new Sonata
sedan, which will be produced at the automaker's U.S. plant in
Alabama from next year.
Shares of Halla, which makes automobile air conditioning and
heating systems and counts Hyundai as its largest customer,
closed down 11 percent in Seoul on Thursday.
Visteon shares closed flat at $53.32 on the New York Stock
"HCC's relationship with Hyundai remains strong and we
expect it will be further strengthened with the integration of
Visteon's climate business into HCC," Visteon Chief Executive
Timothy Leuliette said.
Visteon did not comment on the Sonata contract but said,
"HCC does not win 100 percent of Hyundai's climate business and
does not participate in every Hyundai vehicle program."