| Ford Motor Company and Meridian
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| | delivery and cost-effectiveness of our
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| Automotive Systems have announced Monday
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| | operations during the past year and a
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| in a company press release this week a
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| | half."
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| Memorandum of Understanding (MOU),
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| | Automotive Components Holdings is a
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| outlining a framework for the sale of
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| | temporary company managed by Ford,
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| Automotive Components Holdings' lighting
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| | established in October 2005 with former
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| business and its Sandusky, Ohio plant.
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| | Visteon component operations. ACH's
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| ACH has so far now sold one plant and
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| | mission is to ensure the flow of quality
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| signed MOUs related to eight additional
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| | components and systems while preparing
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| plants during the past six months.
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| | the ACH automotive component operations
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| The primary product produced at the ACH
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| | for sale or idling. The $4 billion
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| Sandusky Plant is automotive lighting,
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| | company and its 12 plants are currently
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| including front, rear and signal lights.
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| | supported by about 12,000 full-time
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| These products are found on several Ford
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| | employees, mostly leased from Visteon or
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| vehicles from the Focus to the
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| | Ford.
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| Expedition, and about 60 percent of
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| | Richard Newsted, Meridian's president and
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| Ford's North American vehicle production.
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| | CEO said, "Acquiring the Sandusky, Ohio
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| The announcement, says Mark Fields,
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| | facility is a logical extension of our
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| Ford's president of The Americas,
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| | engineering and manufacturing expertise
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| represents more progress with the
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| | in lighting."
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| company's Way Forward plan, "The
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| | "We are excited about the opportunity to
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| successful approach Ford is taking with
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| | improve the long-term competitive
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| our component operations - including
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| | position of this operation and expand our
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| selling or idling our ACH facilities -
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| | strengths and capabilities in lighting
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| will help us achieve our commitment to
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| | technology."
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| reduce overall operating costs by $5
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| | The sale is contingent upon reaching a
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| billion by the end of 2008."
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| | new and competitive agreement with the
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| At the end of the first quarter the ACH
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| | United Auto Workers.
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| fuel rail business was sold along with
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| | Ford Motor Company, a global automotive
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| its El Jarudo subsidiary. Other ACH
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| | industry leader based in Dearborn, Mich.,
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| businesses currently in negotiations for
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| | manufactures or distributes automobiles
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| final agreement and sale include glass,
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| | in 200 markets across six continents.
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| fascias and fuel tanks, climate control
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| | With about 260,000 employees and about
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| systems, propshafts, and power transfer
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| | 100 plants worldwide, the company's core
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| units (PTU).
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| | and affiliated automotive brands include
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| "The response from the marketplace has
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| | Ford, Jaguar, Land Rover, Lincoln,
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| been better than expected," said Al Ver,
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| | Mercury, Volvo and Mazda (maker of top of
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| ACH CEO and COO and Ford Motor Company
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| | the line Mazda spark plug wire). The
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| vice president. "We believe that is due,
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| | company provides financial services
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| in large measure, to the significant
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| | through Ford Motor Credit Company.
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| improvement in the quality, on-time
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|
