Ford Motor Company & Glass Products, a Tulsa-based company solely owned by Oklahoma businessman Robert Price, signed a memorandum of understanding (MOU) as the first step in Ford's sale of its Automotive Components Holding (ACH; formerly Visteon) glass operations in Tulsa, Okla., Nashville, Tenn., & its subsidiary in Juarez, Mexico. "We are particularly pleased to announce an MOU for the sale of glass operations," said Al Ver, ACH, CEO & chief operating officer & Ford vice president. "Sale of these operations has been in various stages of discussion & negotiations for many years. We believe this agreement represents the best option for the continued success of these facilities in the years ahead." ACH, a temporary business managed by Ford, was created in 2005 to ensure the flow of critical components to Ford and to significantly reduce Ford's material costs over time. For the past year reports have been circulating that Ford was in talks with investors for the sale of its ACH segments, including its glass operations. Robert Price, a Tulsa-based private investor, created Glass Products, the company with which Ford signed the MOU. According to Hilary Kitz, a Glass Products spokesperson, the company was formed for the purpose of acquiring domestic glass operations. "Mr. Price is the sole owner of Glass Products and works with various investment banking firms during business acquisition transactions," says Kitz.
