* Automotive Components Holdings will prepare most of the acquired businesses for sale, while protecting Ford Motor Company's supply of critical components.
Automotive Components Holdings -- a temporary business managed by Ford Motor Company (NYSE: F) -- is being created to protect the flow of critical parts and components in the near-term, and over time improve Ford's sourcing flexibility. Its mission is to prepare most of the acquired businesses for sale to companies with the capital and expertise to supply Ford with high- quality components and systems at competitive prices.
The formation of Automotive Components Holdings is an essential part of Ford North America's strategy to accelerate its restructuring, improve its cost structure and boost profitability.
"Given our business conditions, we believe this is the best strategy to protect the flow of parts to Ford and, longer term, to help address Ford's material costs by preparing most of these facilities for sale as efficient, high-performing business units," said Al Ver, Ford vice president and chief executive and chief operating officer, Automotive Components Holdings, LLC. "We have assembled a team of seasoned veterans with proven track records to reshape and rebuild these businesses for sale to buyers who can take them forward."
ACH will have no employees of its own in the U.S. About 5,000 Visteon salaried employees, located mostly at facilities that are part of the transfer, will initially be leased from Visteon and work directly with ACH. About 80 Ford salaried employees have been assigned to the new company, along with some 18,000 Ford UAW hourly employees who work in the former Visteon facilities. Ford is expected to implement 5,000 buyouts over time for UAW employees at ACH facilities.
The three Mexican affiliates of ACH will employ about 1,850 hourly and salaried personnel.
Automotive Components Holdings, LLC begins operations under financial arrangements announced on May 25 as part of the Memorandum of Understanding. Its financial information will be consolidated into Ford Motor Company quarterly financial reports.
Automotive Components Holdings, LLC Plants - 17 Other facilities - 6 Plants Autovidrio Plant - Mexico - glass Chesterfield Plant - Chesterfield Twp, MI - seating foam El Jarudo Plant - Mexico - powertrain Indianapolis Plant - Indianapolis, IN - steering components Kansas City Plant - Kansas City, MO - IP/lamp final assembly/sequencing Lamosa Plants I & II - Mexico - chassis Milan Plant - Milan, MI - powertrain Monroe Plant - Monroe, MI - chassis Nashville Glass Plant - Nashville, TN - glass Rawsonville Plant - Ypsilanti, MI - powertrain & Rawsonville GTC Saline Plant - Saline, MI - interiors Sandusky Plant - Sandusky, OH - lighting/air induction/fuel vapor storage Sheldon Road Plant - Plymouth, MI - climate control Sterling Plants I & II - Sterling Heights, MI - chassis & Sterling Test Labs Tulsa Glass Plant - Tulsa, OK - glass Utica Plant - Shelby Twp, MI - interiors, exteriors Ypsilanti Plant - Ypsilanti, MI - chassis Research, testing and other facilities Bellevue Site - Bellevue, OH - aftermarket parts assembly & distribution Carlite Warehouse - Lebanon, TN - glass distribution center Commerce Park S. - Bldg D - Dearborn, MI - chassis engineering/glass lab Glass Systems Main Office - Allen Park, MI - glass Product Assurance Center - Dearborn, MI - R & D, testing Technical Center-Dearborn, MI - research & product development
Web site: http://www.ford.com/