Ford Motor sells off three glass factories
April 19th, 2007 Leave a comment Visited 27 times, 2 so far today
Ford Motor sells off three glass factories
US based automaker Ford Motor has announced that they have signed an agreement to sell three glass factories. They are selling these units to a Tulsa based private investor Glass Products as they are trying to liquidate former Visteon Corp. facilities.
These Ford Motor units employ around 1,600 workers and manufacture glass for the automobile industry and architectural applications. The company did not disclose the financial aspects of this new deal.
Ford Americas President Mark Fields added on this latest deal: “The successful approach Ford is taking with our component operations — including selling or idling (the former Visteon) facilities will help us achieve our commitment to reduce overall operating costs by $5 billion by the end of 2008.”
The company is struggling in their domestic market as they face intense completion from Japanese automakers Toyota and Honda. These sales are part of their restructuring program to cut costs and sell loss making units.
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