Ford to Take Back 23 Visteon Facilities

Ford Motor Co. reached a final agreement to take back 23 plants and offices to help former parts unit Visteon Corp. cut costs.

The facilities will be transferred Oct. 1 to a Ford-managed entity, with most of them to be prepared for sale, the Dearborn, Mich.-based automaker said. Visteon, which reported $1.1 billion in costs in the second quarter after the initial agreement in May, said it expected a gain “well in excess” of that amount when the transaction closed.

The automaker is helping Visteon, its largest supplier, to ensure a steady flow of parts for Ford’s North American factories.

Visteon shares fell 9 cents to $10.60. Ford shares declined 10 cents to $9.82.