FORD CLOSES DEAL FOR AUTOMOTIVE COMPONENTS HOLDINGS EL JARUDO ...
 

Ford Motor Company today announced the completion of a sales transaction with Cooper-Standard Automotive for the Automotive Components Holdings El Jarudo Plant and its fuel rail manufacturing operations in Juarez, Mexico.

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 about 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 CEO and COO and Ford vice president. This first sale sets the stage for more sales of our other plants and businesses.

Since its formation in October of 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 Fords 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 U.S. and Mexico supported by 11,000 employees leased from Visteon or Ford and 900 employees at its Mexican affiliates.

Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles in 200 markets across six continents. With more than 280,000 employees and more than 100 plants worldwide, the companys core and affiliated automotive brands include Ford, Jaguar, Land Rover, Lincoln, Mercury, Volvo, Aston Martin and Mazda. The company provides financial services through Ford Motor Credit Company. For more information regarding Fords products, please visit www.fordvehicles.com .

Source: [url=http://media-newswire.com/release_1046918.html]Media Newswire[/url]