DEARBORN, Mich., May 3, 2012 /PRNewswire/ --
- Ford Motor Company and Automotive Components Holdings have announced signing of definitive agreements with Faurecia for sale of ACH's automotive interior trim components business, the only operation at the ACH Saline plant
- Closing of sales transaction and transfer of business scheduled for June 1
- Ford to promote supplier diversity and city of Detroit by sourcing interior trim components business to new joint venture, Detroit Manufacturing Systems
Ford Motor Company (NYSE: F) and Automotive Components Holdings, LLC (ACH) today announced the signing of definitive agreements with Faurecia for the sale of the automotive interior trim components business, which is ACH's only operation at its plant in Saline. Closure of the sales transaction and transfer of the business are scheduled for June 1.
Nearly all employees associated with the business have been offered employment.
The deal includes the formation of a new joint venture, Detroit Manufacturing Systems (DMS), between Faurecia and Rush Group Ltd., part of the Rush Group of companies that includes one of Ford's largest minority- and woman-owned suppliers. DMS will do injection molding, assembly and sequencing of interior trim parts. About 500 people are expected to be employed at the DMS facility in Detroit."This announcement is an important milestone for Ford and ACH and marks a major development in our journey to develop a financially healthy, diverse supply base," said Tony Brown, group vice president, Ford Global Purchasing. "Ford also is proud to play a role in helping to revitalize Detroit at this critical time for the city." After closure of the deal, the Saline plant will focus on core technologies such as injection molding, skin manufacturing and foam operations.
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