DEARBORN, MI — Visteon has entered into an agreement to sell the assets of its automotive components assembly operation in Chicago, Ill., to Plastech Engineered Products, a minority-owned supplier based in Dearborn, Mich.
Plastech is a longtime Visteon supplier that provides interior trim components to Ford from a facility adjacent to the one to be purchased from Visteon at Ford’s Chicago Manufacturing Campus. The 215,000-square-foot facility that Plastech will acquire from Visteon performs final assembly and sequencing of front-end modules, cockpit systems, fuel storage systems and climate systems for the Ford Freestyle, Ford Five Hundred and Mercury Montego. The facility’s 270 employees will be offered positions with Plastech.
According to James Orchard, Visteon’s executive vice president and president for North American operations, the company is taking advantage of cost-effective synergies that Plastech can provide in assembling high-quality interior components, while ensuring continued in-sequence, just-in-time delivery to Ford from a respected and growing minority supplier.
“Plastech has been a valued supplier to Visteon for more than 15 years and is familiar with the products assembled at the Chicago facility; this is another step in our long- term relationship with them,” said Orchard.
Terms of the transaction were not disclosed. The deal is expected to be completed by Sept. 30.
For more information about Visteon, go to: www.visteon.com.
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