Search
 

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.