UPDATE 1-Visteon to slash plants, workers in deal with Ford

Newswire

(Adds details from releases, stock activity) NEW YORK, May 25 (Reuters) - Ailing auto parts supplier Visteon Corp. on Wednesday said it reached an agreement with former parent Ford Motor Co. that will slash its costs by unloading manufacturing plants and transferring 17,400 U.S. union workers back to Ford. Shares of Visteon, which was spun off from Ford in 2000, jumped 29 percent in pre-market trade on the news. Visteon said it would transfer some 20 plants in the United States and ...

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