Ford Motor Co. will help struggling auto parts supplier Visteon Corp., a former Ford subsidiary, by temporarily taking over 24 of its facilities in the U.S. and Mexico, the automaker said Wednesday.
Ford agreed to manage a total of 20 plants in the U.S. and four in Mexico through a temporary business entity in order to sell them over time. As a temporary entity, the new holding company will lease salaried employees from Visteon and all hourly UAW Ford employees currently working in Visteon facilities.
