Definitive Agreements and Sale Announced for the Automotive Components Holdings Fuel Tank Business
- Ford Motor Company and Automotive Components Holdings, LLC announced the signing of definitive agreements for the sale of the blow-molded fuel tank business located at the ACH Milan Plant
- Completion of the sales transaction and transfer of the business to Inergy Automotive Systems are scheduled for June 1, 2011
DEARBORN, Mich., May 18, 2011 – Ford Motor Company and Automotive Components Holdings, LLC (ACH) today announced the signing of definitive agreements with Inergy Automotive Systems for the sale of the blow-molded fuel tank business located at the ACH plant in Milan, Mich. Closure of the transaction and transfer of the business are scheduled for June 1, 2011.
“We are delighted to announce the sale of our blow-molded fuel tank business to Inergy,” said Mark Blair, president and CEO, ACH. “This is another important step in our strategic plan for Automotive Components Holdings, and it is a great opportunity for the employees at Milan.”
Under the deal, the fuel tank operation and many of its employees will move over a three year period from its current location to a new plant to be built by Inergy in southeast Mich.
ACH currently has five plants, including the Milan Plant and the Indianapolis Plant, which is scheduled to be closed within 12 months.
Inergy Automotive Systems is wholly owned by Compagnie Plastic Omnium, and it operates three plants in North America, including a plant in Adrian, Mich.
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's products, please visit www.ford.com.