Visteon to cut plants, workers in deal with Ford

Newswire

NEW YORK, May 25 (Reuters) - Ailing auto parts supplier Visteon Corp. on Wednesday said it was restructuring its agreement with former parent Ford Motor Co. by unloading plants and transferring U.S. union workers. Many Visteon plants will be transferred to a separate entity controlled by Ford under the arrangement, and 17,400 union workers leased by Visteon from Ford for the plants will be returned to the automaker, Visteon said in a statement. The non-binding memorandum is subject ...

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