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2/16/2003

Visteon Signs $2 Billion Deal With IBM

The Associated Press

DEARBORN, Mich. -- Visteon Corp. and IBM announced a $2 billion agreement Wednesday in which IBM will handle information technology tasks for the auto parts maker over the next decade.

IBM Corp. will perform mainframe support services, data centers, customer support centers, application development and maintenance, data network management, desktop support and disaster recovery.

"Our alliance partnership with IBM will enhance the quality of our IT services and improve our speed to market," said Mike Johnston, Visteon's president and chief operating officer. "This agreement gives us flexibility by making our IT expenditures variable, which allows us to adjust services to meet our business demands."