Ford, Visteon agree on plant transfers

Ford Motor Co. will take unprofitable plants back from parts maker Visteon Corp. under definitive agreements announced Tuesday.

The transfer of 17 plants – including one in Kansas City, Mo. – and six offices, research centers and other facilities in the U.S. and Mexico to Ford, Visteon’s former parent, is expected to occur Oct. 1, the companies said in a statement.

The deal is meant to guarantee parts supplies to Ford plants while a temporary holding company prepares to sell most of the facilities “to companies with the capital and expertise necessary to supply Ford with components and technologies at competitive prices and high quality,” the statement said.