Although a buyer was named more than two months ago for the Ford-owned ACH glass plant at Tulsa, Oklahoma, the company has yet to close the deal on the facility.
“We are working on it as quickly as w…
Although a buyer was named more than two months ago for the Ford-owned ACH glass plant at Tulsa, Oklahoma, the company has yet to close the deal on the facility. “We are working on it as quickly as we can”, said Della DiPietro, spokeswoman for Automotive Components Holdings. Ford bought the Tulsa plant and 21 others from Visteon Corp. in 2005. The facility, which makes architectural and automotive glass, was quickly put up for sale. ACH began offering buyouts to staff, which have been accepted by 160 Tulsa employees over the last two years. The plant now has about 500 full-time employees left, Ms. DiPietro said. She said it has yet to be determined whether buyouts will be offered to these remaining employees. ACH offered the latest buyout program in 2006, Ms. DiPietro said. She said the majority of those who signed up for the buyouts have already left the plant. “There are still a few people here and there that are taking the buyouts, but the bulk of the buyouts have already been taken”, Ms. DiPietro said. Buyout offerings include a lump sum payment and an option that pays workers a stipend worth half of their regular pay, healthcare and up to USD 15,000 a year for tuition and books for school. “It“s a very creative program”, Ms. DiPietro said. “People choose the one that is best for them”. Ford said in April 2007 that it had signed a memorandum of understanding with Tulsa-based Glass Products, a company formed by Tulsa investor Robert Price. Glass Products is expected to acquire both the Tulsa plant and ACH“s plant in Nashville, Tennessee. Ford is selling the two glass plants as part of its efforts to cut costs. Mark Fields, Ford“s president of The Americas, said in April 2007 that the memorandum of understanding is a sign of progress for the company. He said selling or idling ACH facilities will help Ford achieve its commitment to reduce overall operating costs by USD 5 billion by the end of 2008.