DEARBORN, Mich. (AP) — Ford Motor Co. says it's selling a Monroe-based operation that makes vehicle driveshafts.
The operation is part of Automotive Components Holdings LLC, which Ford created in 2005 to manage 17 plants that Ford reacquired from a struggling Visteon Corp. as part of a bailout agreement for the supplier. Ford spun off Visteon in 2000.
Ford says officials signed a deal Wednesday to sell the driveshaft business to Pottstown, Pennsylvania-based Neapco LLC, affiliated with the China-based Wanxiang Group.
Ford says Neapco is opening a plant in Wayne County's Van Buren Township, where about 300 employees of the driveshaft unit will be offered jobs.
The United Auto Workers recently ratified a labor agreement with Neapco.