China’s largest automotive glass producer reportedly is eyeing Ford’s North American glass-making business.
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According to Reuters, Fuyao Group Glass Industries is close to bidding for the Ford subsidiary Automotive Components Holdings (ACH) as the US giant looks to restructure.
“Fuyao has held two rounds of talks with Ford and has been selected to submit a final bid for the glass assets,” a source told the news agency which added that a second source had said that Fuyao has hired a Wall Street investment bank as an adviser.
ACH has three glass manufacturing plants in Tulsa, Oklahoma, Nashville, Tennessee and Mexico.
The sources reportedly declined to say which of those assets Fuyao was interested in or how much it might pay.
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