US: Ford sells two more parts plants
Ford Motor Company has announced memorandums of understanding (MOU) for the purchase of two former Visteon plants that reverted to the automaker's Automotive Components Holdings (ACH) group under a complex plan to restructure the parts maker.
Flex-N-Gate plans to purchase ACH's fascia and fuel tank operations at its Milan, Michigan, plant which employs about 700 people, including salaried employees leased from Visteon and UAW hourly employees leased from Ford.
Flex-N-Gate is a growing, international and privately held company with numerous manufacturing operations in several countries. According to Ford, it has a solid reputation in the plastics and metal forming industries and has content on virtually all major automotive nameplates.
The deal is contingent upon a new agreement with the UAW.
Ford has also signed an MOU with Cooper-Standard Automotive for the sale of fuel rail manufacturing operations at El Jarudo, Mexico, plant.
It is a North American 'maquiladora' plant that employs about 500 people.