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Ford unit sells driveshaft business to Chinese firm.

Publication: Automotive News
Publication Date: 04-FEB-08
Format: Online
Delivery: Immediate Online Access
Full Article Title: Ford unit sells driveshaft business to Chinese firm.(News)(Ford Motor Co.)(Johnson Controls Inc.)(Neapco Inc.)(United Automobile Workers)

Article Excerpt
Byline: Brent Snavely

More than two years after it was formed by Ford Motor Co., Automotive Components Holdings LLC has completed its first U.S. sale - to a Chinese-owned parts maker.

Five other preliminary agreements to sell eight plants, announced over the past 14 months, stalled last year as Ford's talks with the UAW played out. Now that Ford and the UAW have signed a deal that cuts Ford's labor costs, those talks are back on track.

On Jan. 24, Ford said it had sold Automotive Components Holdings' driveshaft business at a plant in Monroe, Mich., to Neapco Drivelines LLC, of...

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