Visteon’s decision to set up a research and development centre in Portugal was a source of great pride said the Portuguese Minister of the Economy António Pires de Lima on his visit to the company’s facilities on Tuesday.
“This company is one of those that fills the soul of a Portuguese person with pride, especially when having the opportunity to get to know them better”, said Pires de Lima as he ended his visit to Visteon, in Palmela, to the south of the Lisbon, that included the announcement of the Visteon Technical Center Portugal.
With the construction phase involving €1.7 million investment, Visteon represents “a company turning over more than €1.5 million daily and over €500 million per year and exporting almost 100% of its production to large international brands,” highlighted the minister.
Having started out in Portugal in 1990, Visteon “is now a company that employs some 1,500 persons, of whom 1,100 are in production and 400 in the field of services,” said Pires de Lima before expressing his hope the company swiftly reaches 2,000 jobs with the new research and development centre.
Visteon’s Palmela unit produces electronic systems ranging from information to climate control, entertainment to lighting and exports to 48 companies worldwide including Ford, Volvo, Toyota, General Motors and Jaguar.