Mexican Media Brands
Faurecia Buys Former Visteon Unit from Ford
Ford Motor Co. has reached a definitive agreement to sell its interior trim parts plant in Saline, Mich., to Faurecia SA for an undisclosed sum.
#interior
Share
Ford Motor Co. has reached a definitive agreement to sell its interior trim parts plant in Saline, Mich., to Faurecia SA for an undisclosed sum. The deal is set to close on June 1.
The trim factory is one of the three remaining facilities that Ford took back from its former parts unit Visteon Corp. in 2006.
Faurecia will form a joint venture called Detroit Manufacturing Systems with Rush Group Ltd., a Wayne, Mich.-based trucking firm. Faurecia, which is based in a Paris suburb, will control 45% of DMS in exchange for its technology, manufacturing expertise and the Saline facility.
Rush Group, which is owned by Native American entrepreneur Andra Rush, will hold a 55% stake. The group's inclusion in the venture will bolster Ford's tally of minority and women-owned suppliers.
The Saline plant will focus on the unit's core business, including injection molding and foam operations. A new DMS factory in Detroit will handle injection molding and assembly of trim components.
Faurecia says the Saline operation generates $1.1 billion (€834 million) in annual revenue from sales of instrument panels, cockpit modules, center consoles and door panels. The unit supplies 12 Ford vehicle programs in North America.
When the deal is completed, Ford will become Faurecia's third-largest customer after Volkswagen and PSA Peugeot Citroen.
RELATED CONTENT
-
Jeeps Modified for Moab
On Easter morning in Moab, Utah, when the population of that exceedingly-hard-to-get-to town in one of the most beautiful settings on Earth has more than doubled, some people won’t be hunting for Easter eggs, but will be trying to get a good look at one of the vehicles six that Jeep has prepared for real-life, fast-feedback from the assembled at the annual Easter Jeep Safari.
-
Lambo’s Limited Edition Miura Homage
One of the cars that automotive designers everywhere give a hat tip to is the Lamborghini Miura.
-
Injection molding for interiors—including fabrics
Plenty of interior components are injection molded. But some companies—such as VW—are using a process for trim pieces that both mold a component and cover it in fabric in a single molding process. And it is coming to the U.S. in the not-too-distant future.