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Ford announces proposal for sale of unit to Ontario manufacturer

Ford announces proposal for sale of unit to Ontario manufacturer

Ford Motor Co. said Monday it has entered final negotiations with Linamar Corp. to sell a Mexico-based transmission parts business.
Financial terms were not disclosed.
The Converca I Plant in Nuevo Laredo makes power transfer units, a gear box that transfers power for all-wheel drive vehicles, for the North American auto industry. Linamar is a Guelph, Ontario-based manufacturing company.
The business is part of Ford's Automotive Components Holdings group, a collection of plants the Dearborn-based automaker seeks to sell or close by 2008. Ford reacquired the group of plants in 2005 from Visteon Corp. as part of a wider bailout agreement for the supplier. Ford spun off Visteon in 2000.
The proposal is the sixth agreement reached in the past five months regarding units of Automotive Components Holdings. Ford has sold one ACH business and is negotiating to sell four others.
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On the Net:
http://www.ford.com


Updated : 2021-07-30 00:18 GMT+08:00