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GlobeSt.com UPDATE: Ford, Visteon Reach Deal To Transfer, Sell 17 Centers

DETROIT-Ford Motor Co. and its largest parts supplier, Visteon Corp., reach a final agreement to transfer 17 major manufacturing facilities from Visteon to Ford. Ford expects to eventually sell most, if not all, of the facilities.

By Dan Heaton | Updated on September 13, 2005

DETROIT-Ford Motor Co. and its largest parts supplier, Visteon Corp., have reached a final agreement on a plan to transfer 17 major manufacturing facilities from Visteon to Ford. Ford will be looking to eventually sell most, if not all, of the facilities. As reported by GlobeSt.com , the companies in May announced potential plans to sell a number of facilities.

The transfer of the plants, along with six offices, research centers and other facilities in the US and Mexico to Ford is expected to take place on Oct. 1. The transfer includes 13 facilities in Michigan; two each in Ohio and Tennessee; one each in Indiana, Missouri and Oklahoma; and three in Mexico.

Under the agreement, a temporary company managed by Ford executives called Automotive Components Holdings LLC, will take control of the plants and other facilities. Visteon expects to assign about 5,000 salaried employees to the new company, which also will take on about 18,000 hourly employees now working in Visteon facilities and about 70 Ford salaried employees.

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