Ford comes to Visteon's aid

Thursday, 26 May 2005
Ford has agreed to bailout its former parts subsidiary Visteon by taking over 24 factories and paying $550m in restructuring costs.

The deal will also erase Visteon's pension deficit and provide a $250m loan to help repay debts. Reports suggest the agreement could save Ford up to $700m dollars in parts and other savings by the end of the decade.
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