Halla Climate Control Corp. (“HCC”) was formed in 1986 as a joint venture between Ford Motor Co. and Mando Machinery Corporation, Korea. In 1989, quickly realizing the importance of research, the company established its first research and development center in Korea, and in the same year, launched its first overseas operation in Ontario, Canada. With an emphasis on quality and delivery, the company built on this overseas presence, expanding its operations and customer base in Asia, Europe and the Americas. By 1998, HCC was delivering its state-of-the-art automotive climate systems across the globe. General Motors recognized this, awarding HCC with its “Supplier of the Year” in 1998. In March 1999, and in preparation for the spin-off of its component divisions, Ford transferred its majority equity stake in HCC to Visteon Corp.