(Recasts, adds analyst and Ford CFO comments, details, updates stock prices, dateline previous NEW YORK) DETROIT, May 25 (Reuters) - Ford Motor Co. said on Wednesday it would spend up to $1.15 billion to bail out auto parts supplier Visteon Corp. , allowing its former subsidiary to slash costs by unloading unprofitable plants and 17,400 highly paid employees. Shares of Visteon, which was spun off from Ford in 2000 but has struggled to post profits, rose 13.7 percent. The agreement ...
Premium Content (PAID Subscription Required)
"UPDATE 3-Visteon to cut plants, workers in deal with Ford" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.