Sale Announced for Automotive Components Holdings Lighting Business, Sandusky Plant
Ford Motor Company (NYSE: F) and Automotive Components Holdings, LLC (ACH) announced definitive agreements with Ventra Sandusky LLC, a member of the Flex|N|Gate automotive supply group, for the sale of ACH's business in automotive headlamps and taillights and the ACH plant in Sandusky, Ohio. Ventra Sandusky also will run the ACH automotive lighting service parts operation in Bellevue, Ohio.
The transaction and business transfers are scheduled for June 30. Ventra Sandusky will offer employment to most Sandusky and Bellevue employees.
After completing this sale, ACH will have only one remaining operation - the climate control business at its Sheldon Road plant in Plymouth Township, Mich.
"This announcement is another significant step as we reach the final phase in our ACH strategy," said Mark Fields, Ford's president of the Americas. "From the start, our aim was to ensure an orderly transition for employees and provide ready access to high-quality components for Ford, even while we restructured and prepared these operations for sale or disposition. We have been working our plan and living up to our commitment for six years."
The sale to Ventra also represents continued expansion of Ford's business with minority-owned suppliers. This builds on Ford's 2011 new record of more than $5 billion in purchases from minority-owned businesses.
"This announcement marks another step forward in our goal to ensure financial stability and diversity in our supply base," said Tony Brown, group vice president, Ford Global Purchasing. "We also are pleased to strengthen our business with Flex|N|Gate as a key member of our Aligned Business Framework."
Added Flex|N|Gate Chairman and CEO Shahid Khan: "The Sandusky lighting acquisition strengthens our competencies in vehicle lighting systems and supports our global commitment to Ford Motor Company. We are thrilled to team up with Sandusky lighting's people, capabilities and leading-edge product technologies. This also provides us with terrific opportunities to continue our successful growth with Ford, our employees and local Ohio and Michigan communities."
About Ford Motor Company
Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 166,000 employees and about 70 plants worldwide, the company's automotive brands include Ford and Lincoln. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford and its products worldwide, please visit http://corporate.ford.com.
Privately-owned Flex|N|Gate group employs over 12,450 people at 50 manufacturing and 9 product development and engineering facilities throughout Canada, the United States, Mexico, Argentina, Brazil and Spain. Flex|N|Gate's products include: large body and chassis structural assemblies; full bumper and fascia systems, brackets, receiver hitches; interior plastic panels and pillars; exterior trim components, running board systems; scissor and screw jacks, tools, spare tire hoists, hinges, checks, pedals, parking brakes, and latch systems, center high mount stop lamps, deck lamps, fog lamps, interior lighting, license lamps, reflectors, side markers and tail lamps. To learn more about Flex|N|Gate, please visit www.flexngate.com