Motor Co. completes the sale of three glass plants operated by its Automotive Components Holdings LLC subsidiary to Zeledyne LLC.
The facilities are located in Nashville, TN; Ciudad Juarez, Mexico; and Tulsa, OK. The deal also includes leases for an ACH warehouse in Lebanon, TN, and engineering offices in Allen Park, MI,says.
The price of the transaction was not disclosed.
ACH is composed of orphaned manufacturing plants and other facilities Ford acquired from former subsidiaryCorp. in 2005. The auto maker wants to sell or shutter the eight remaining ACH plants by year’s end.
“We are working aggressively to complete the sale of more ACH plants this year,” says ACH CEO Bill Connelly in a statement.
Negotiations continue for the sale of additional ACH plants for which memorandum of understandings have been signed, Ford says.
Earlier ACH sales involved a fuel-rail business in El Jarudo, Mexico; power-transfer unit business in Nuevo Laredo, Mexico; and driveshaft business in Monroe, MI.
Robert Price, a Tulsa, OK-based private investor, formed Zeledyne for the glass-plants’ acquisition.
The company’s management team is led by CEO Michael McCarney, a former Ford executive with more than 30 years of experience in manufacturing and business, including a 2-year stint as president of Ford’s Southeast Asia group.
“These operations represent a tremendous opportunity for Zeledyne,” Price says in a statement. “We have plans to grow all three areas of business: automotive glass products as original equipment; automotive aftermarket glass; and architectural glass.”