Ford Motor to sell climate control business to Detroit Thermal Systems
29 Oct 2012
Ford Motor Co today said that it has agreed to sell its climate control business to Detroit Thermal Systems (DTS), for an undisclosed sum.
Ford's climate control business was part it's Automotive Components Holdings (ACH). ACH was set up in 2005 by Ford Motor as a temporary business unit to hold and manage 17 automotive components factories and six research, testing and other facilities that was acquired from Visteon.
The plants were acquired by Ford so that its operations were not affected by parts-supply disruptions or its componenets spin-off Visteon's ability to invest in the future while Visteon was undergoing severe cash crunch.
The sale of the climate control business is the last remaining ACH operation, which is located at the ACH Sheldon Road Plant in Michigan.
DTS is a joint venture between France's Valeo and V Johnson Enterprises, which is owned by Vincent Johnson, a former Detroit Pistons basketball star.
V Johnson Enterprises holds a controlling 51 per cent interest in DTS, while Valeo holds the remaining 49 per cent.