DEARBORN, Mich., -- Ford and Visteon are one step closer to the expected transfer of 17 plants and six offices, research centers and other facilities in the U.S. and Mexico. The transfer is expected to occur on Oct. 1.
The two companies announced today the completion of definitive agreements, paving the way for a new, temporary, Ford-managed business entity, Automotive Components Holdings, LLC, to take control of the businesses on Oct. 1. Automotive Components Holdings will prepare most of the businesses for sale to companies with the capital and expertise necessary to supply Ford with components and technologies at competitive prices and high quality.
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