FORD TO SELL AFFILIATE TO CHINESE FIRM
AsiaInfo Services, April, 2007
AsiaInfo Services 04-10-2007 Ford to Sell Affiliate to Chinese Firm HANGZHOU, Apr 10, 2007 (SinoCast via COMTEX) -- Neapco LLC, the North American branch of Wanxiang Group, has signed an understanding memo with Ford Motor on purchasing the rear-drive shaft business of the latter's Automotive Components Holdings (ACH). Wanxiang Group, a large auto parts manufacturer in China, had acquired an auto part supplier in North America quietly in 2006 and started a negotiation with Delphi Corporation, which is the world's second largest manufacturer of auto parts, about buying partial assets from it. Ford is considering splitting off ACH, which consists of 17 factories and six factories that Ford acquired from Visteon.
It had decided to sell or close ACH before 2008. ...
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