Ford Sells Plants

Ford Motor Company (F) has sold off some plants in order to raise capital. The plants have been sold to Cooper-Standard and Flex-N-Gate.

Cooper-Standard will buy a fuel rail factory in El Jarudo, Mexico, that employs about 500 people, and Flex-N-Gate will buy a Milan, Michigan, plant that makes fuel tanks and automotive trim and employs about 700 people, Ford said.

Terms of the deals were not disclosed, and you can expect more, soon. The company is divesting all of its Automotive Components Holdings plants.