Business
MOU Signed
MOU Signed.
About this update from Fdm Group (holdings) Plc
[{"type":"text","content":"\n Ford Motor Co\n18 April 2007\n\n\nContact:\n\nMedia: Investment Community Shareholder Inquiries:\nDella DiPietro Larry Heck (Equity) 1.800.555.5259 or \n1.313.755.2432 1.313.594.0613 1.313.845.8540\n1.313.720.8095 [email protected] [email protected]\[email protected] \n Rob Moeller (Fixed Income) \n 1.313.621.0881\n [email protected]\n\n\nFORD AND GLASS PRODUCTS REACH MOU FOR \nAUTOMOTIVE COMPONENTS HOLDINGS GLASS BUSINESS \n \n • Ford Motor Company and Tulsa-based Glass Products have reached a \n Memorandum of Understanding (MOU) outlining a framework for the sale of \n the Automotive Components Holdings' Glass Operations. \n\n • This MOU brings to five the number of ACH businesses sold or currently \n involved in negotiations toward sales agreements. \n\n • Automotive Components Holdings was created in October 2005 to ensure \n the flow of critical components to Ford and to significantly reduce \n Ford's material costs over time. Operational costs as well as quality \n and delivery measures have significantly improved since ACH's formation. \n\nDEARBORN, Mich., Apr. 18, 2007 - Ford Motor Company and Glass Products today\nannounced the signing of a Memorandum of Understanding (MOU), the first step\ntoward the sale of the Automotive Components Holdings (ACH) Glass Operations and\nits plants in Nashville, Tenn., and Tulsa, Okla., and its subsidiary Vidriocar\nin Juarez, Mexico. \n\n\nACH Glass Operations supply architectural glass, original equipment and\naftermarket glass for Ford cars and trucks, and aftermarket glass for vehicles\nof other makes. It supplied original equipment glass for about 2.7 million\nvehicles last year. About 1,600 full-time employees work in the operations. \n\n'This MOU is another solid sign of progress for our North American Way Forward\nplan,' said Mark Fields, Ford's President of The Americas. 'The successful\napproach Ford is taking with our component operations - including selling or\nidling our ACH facilities - will help us achieve our commitment to reduce\noverall operating costs by $5 billion by the end of 2008.' \n\n\nWith this agreement, ACH has sold one business and has signed MOUs outlining the\nframework for the sale of four others. The ACH fuel rail business and its El\nJarudo subsidiary were sold recently. Negotiations are continuing regarding the\nclimate control business and t...