Valeo and V Johnson Enterprises have formed a joint venture known as Detroit Thermal Systems (DTS) to acquire the climate control business of Automotive Components Holdings (ACH), currently located in its Sheldon Road plant in Plymouth Township, Michigan.
Ford and ACH [the entity created by Ford to prepare parts units Visteon once owned for sale – ed] signed definitive agreements with DTS for the sale of the business on 25 October.
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V Johnson Enterprises, an entity owned by a Detroit entrepreneur, will hold 51% of DTS, while Valeo will hold the remaining 49%.
DTS will produce climate control systems and components for the automotive industry, including supporting current product supply commitments to Ford previously held by ACH.
DTS is eventually expected to employ around 500 people.
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