Ford, Glass Products reach MOU For Sale Of Ford Glass Ops

Ford Motor Company and Glass Products today announced the signing of a Memorandum of Understanding (MOU), the first step toward the sale of the Automotive Components Holdings (ACH) Glass Operations and its plants in Nashville, Tenn., and Tulsa, Okla., and its subsidiary Vidriocar in Juarez, Mexico.

ACH Glass Operations supply architectural glass, original equipment and aftermarket glass for Ford cars and trucks, and aftermarket glass for vehicles of other makes. It supplied original equipment glass for about 2.7 million vehicles last year. About 1,600 full-time employees work in the operations.

This MOU is another solid sign of progress for our North American Way Forward plan,” said Mark Fields, Ford’s President of The Americas. “The successful approach Ford is taking with our component operations – including selling or idling our ACH facilities – will help us achieve our commitment to reduce overall operating costs by $5 billion by the end of 2008.

With this agreement, ACH has sold one business and has signed MOUs outlining the framework for the sale of four others. The ACH fuel rail business and its El Jarudo subsidiary were sold recently. Negotiations are continuing regarding the climate control business and the Sheldon Road Plant near Plymouth, Mich.; the fascia and fuel tank businesses and the Milan (Mich.) Plant; and the ACH propshaft business, which currently is one of the products produced at a Monroe, Mich., facility.

Read the entire news on the source link below.

600450 Ford, Glass Products reach MOU For Sale Of Ford Glass Ops glassonweb.com
Date: 23 April 2007
Source: Themanufacturer.com

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