Join Date: Feb 2001
Location: The Hills of North Georgia,USA
US:Ford will sell 2 more former Visteon plants
Flex-N-Gate, Cooper-Standard to buy plants from Ford
Automaker shedding former Visteon properties
David Barkholz | Automotive News
Ford Motor Co. has agreed to sell two more of the distressed parts-making plants that it reacquired a year ago from Visteon Corp.
Flex-N-Gate Corp., of Urbana, Ill., has agreed to buy Ford's fascia and fuel tank operations in Milan, Mich. The deal is subject to a new labor agreement with the UAW. The plant has 700 workers.
Cooper-Standard Automotive, of suburban Detroit, has agreed to buy Ford's fuel rail operation in El Jarudo, Mexico. The plant employs 500.
As part of a cost-cutting strategy, Ford will close the 14 plants in its Automotive Components Holdings LLC unit if they cannot be sold. Ford put the operations in the separate company when it took the businesses back a year ago.
Ford last month announced an agreement to sell to Valeo SA its climate control business in Plymouth, Mich. That business generates annual sales of about $450 million and employs 1,250.
Ford expects the disposal of the former Visteon operations to cost it about $2.25 billion by 2009.
My first car was a 67 Mustang Coupe, 2nd one was a 67 Cougar XR-7, 3rd one was a 66 Mustang Coupe. Why did I get rid of these cars for ? I know why, because I'm stupid, stupid, stupid.
My next Ford.....