PRESS RELEASE TOPPER - for Posting on Scorecard:
Ford Motor Company today announced a Memorandum of Understanding with Tul...
DEARBORN, Mich., Apr. 18, 2007 – Ford Motor Company and Glass Products today
announced the signing of a Memorandum of Unde...
“I am excited by this new venture, especially with its potential of growth for a business that has
been a hallmark of the ...
of 3

PRESS RELEASE TOPPER - for Posting on Scorecard:

Published on: Mar 4, 2016
Source: www.slideshare.net


Transcripts - PRESS RELEASE TOPPER - for Posting on Scorecard:

  • 1. PRESS RELEASE TOPPER - for Posting on Scorecard: Ford Motor Company today announced a Memorandum of Understanding with Tulsa-based Glass Products for ACH Glass Operations, its plants in Nashville, Tenn., and Tulsa, Okla., and its subsidiary Vidriocar in Juarez, Mexico. The deal also is expected to include the majority of the research and development, sales and aftermarket operations located in Lebanon, Tenn., Dearborn and Allen Park, Mich. This agreement has no immediate impact on the processes for transacting business with ACH and Scorecard remains the quality database tool. You should continue to access Scorecard for performance data and work with your assigned Supplier Development Engineer(s) to address quality issues. We will keep you informed on issues that impact you as we move through the sales process. We appreciate your continued support. NEWS Contact: Media Investment Community Shareholder Inquiries Della DiPietro Larry Heck (Equity) 1.800.555.5259 or 1.313.755.2432 1.313.594.0613 1.313.845.8540 1.313.720.8095 lheck@ford.com stockinf@ford.com ddipietr@ach-llc.com Rob Moeller (Fixed Income) 1.313. 621.0881 rmoeller@ford.com IMMEDIATE RELEASE FORD AND GLASS PRODUCTS REACH MOU FOR AUTOMOTIVE COMPONENTS HOLDINGS GLASS BUSINESS • Ford Motor Company and Tulsa-based Glass Products have reached a Memorandum of Understanding (MOU) outlining a framework for the sale of the Automotive Components Holdings’ Glass Operations. • This MOU brings to five the number of ACH businesses sold or currently involved in negotiations toward sales agreements. • Automotive Components Holdings was created in October 2005 to ensure the flow of critical components to Ford and to significantly reduce Ford’s material costs over time. Operational costs as well as quality and delivery measures have significantly improved since ACH’s formation. Go to http://media.ford.com for news releases and high-resolution photographs.
  • 2. DEARBORN, Mich., Apr. 18, 2007 – Ford Motor Company and Glass Products today announced the signing of a Memorandum of Understanding (MOU), the first step toward the sale of the Automotive Components Holdings (ACH) Glass Operations and its plants in Nashville, Tenn., and Tulsa, Okla., and its subsidiary Vidriocar in Juarez, Mexico. ACH Glass Operations supply architectural glass, original equipment and aftermarket glass for Ford cars and trucks, and aftermarket glass for vehicles of other makes. It supplied original equipment glass for about 2.7 million vehicles last year. About 1,600 full-time employees work in the operations. “This MOU is another solid sign of progress for our North American Way Forward plan,” said Mark Fields, Ford’s President of The Americas. “The successful approach Ford is taking with our component operations – including selling or idling our ACH facilities – will help us achieve our commitment to reduce overall operating costs by $5 billion by the end of 2008.” With this agreement, ACH has sold one business and has signed MOUs outlining the framework for the sale of four others. The ACH fuel rail business and its El Jarudo subsidiary were sold recently. Negotiations are continuing regarding the climate control business and the Sheldon Road Plant near Plymouth, Mich.; the fascia and fuel tank businesses and the Milan (Mich.) Plant; and the ACH propshaft business, which currently is one of the products produced at a Monroe, Mich., facility. “We are particularly pleased to announce a MOU for the sale of the Glass Operations,” said Al Ver, ACH CEO and COO and Ford vice president. “Sale of these operations has been in various stages of discussion and negotiation for many years. We believe this agreement represents the best option for the continued success of these facilities in the years ahead.” Glass Products was formed by Robert Price, a Tulsa-based private investor and experienced business leader with a strong record of success in the natural gas industry, logistics, and medical facility management. Go to http://media.ford.com for news releases and high-resolution photographs.
  • 3. “I am excited by this new venture, especially with its potential of growth for a business that has been a hallmark of the Tulsa business community for many years,” said Price, who serves as chairman of Glass Products. The final agreement is contingent upon a new and competitive agreement with the UAW, as well as state and local government incentives. ACH is a temporary company established and managed by Ford to ensure the flow of quality components and systems while preparing the automotive component operations for sale or idling. Today, the $4 billion company and its 12 plants are supported by 12,000 full-time employees, mostly leased from Visteon or Ford. Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles in 200 markets across six continents. With more than 280,000 employees and more than 100 plants worldwide, the company’s core and affiliated automotive brands include Ford, Jaguar, Land Rover, Lincoln, Mercury, Volvo, Aston Martin, and Mazda. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford’s products, please visit www.fordvehicles.com. ### Go to http://media.ford.com for news releases and high-resolution photographs.

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