Ford Motor Company on April 2 announced the completed sale of its Automotive Components Holdings’ El Jarudo Plant and its fuel rail manufacturing operations in
“This sale represents more progress as our North American Way Forward plan moves into high gear," said Mark Fields, president of The Americas and Ford executive vice president. "This is another positive sign of progress toward our commitment to sell selected operations by the end of 2008."
Under the sales agreement, Automotive Components Holdings LLC, a Ford-managed temporary company, transferred ownership of its equity interest in Manufactura El Jarudo, S. de R. L. de C.V. along with related U.S. assets to Cooper-Standard on April 1. El Jarudo, a maquiladora plant, employs approximately 450 hourly and salaried employees.
“This sale validates our ACH strategy and provides a solid foundation for success at this plant in the future,” said Al Ver, ACH chief executive officer and chief operating officer and Ford vice president. “This first sale sets the stage for more sales of our other plants and businesses.”
Since its formation in October 2005, Automotive Components Holdings has focused on improving its engineering, capital and management skills to improve its businesses. The efforts have resulted in significant quality and delivery improvements, positioning these businesses among Ford’s best suppliers. ACH remains focused on improving and marketing its remaining powertrain, chassis, interior, exterior and glass operations for sale.
ACH is a $4 billion automotive supplier, with 12 remaining plants in the
