Ford, Alfa to Expand Nemak Partnership with Canadian Foundry Operations.The Board of Directors of Ford Motor Co., Dearborn, Michigan Dearborn is a city in the U.S. state of Michigan. It is located in the Detroit metropolitan area and Wayne County, and is the tenth largest city in the U.S. state of Michigan. As of the 2000 census, it had a population of 97,775. , has approved a plan to include Canada's Windsor and Essex aluminum plants in an expanded version of its current joint venture with Alfa to increase focus and drive new growth. In addition, the board approved an independence plan for Visteon Corp., the company's $19-billion automotive components and systems subsidiary. Ford's joint venture with Alfa will be expanded to include Ford's Windsor Aluminum and Essex Aluminum plants. This transaction is meant to increase Ford's 20% stake in the venture and create a preeminent pre·em·i·nent or pre-em·i·nent adj. Superior to or notable above all others; outstanding. See Synonyms at dominant, noted. [Middle English, from Latin prae , global aluminum castings company. "The proposal will open the door to a world of new customers for the aluminum cylinder heads, pistons Pistons can mean:
thin plus obvious diminution in abdominal size, indicative of reduced feed intake leading to reduced gut fill. , Ford of Canada's chief executive. "Ford Motor Co. has been a partner with Alfa for 20 years. Together, we will be creating a preeminent, global aluminum castings company, combining operations renowned both for technology and quality leadership." The existing venture between the two firms, Nemak, was formed in 1979 and produced 5.6 million aluminum automotive castings last year. In 1999, Essex Aluminum produced 3.4 million cylinder heads and 4.8 million pistons, while Windsor Aluminum produced 520,900 cylinder blocks. Ford of Canada also announced plans to hire 350-450 employees over 2 years at its Essex and Windsor engine plants, which are earmarked for increased production of Ford Triton modular engines. The Windsor plant's annex an·nex tr.v. an·nexed, an·nex·ing, an·nex·es 1. To append or attach, especially to a larger or more significant thing. 2. facility is expected to grow by 500,000 sq ft to accommodate the machining and assembly of 1.6 million cylinder heads. The Essex plant is adding 250,000 sq ft to allow for production of 220,000 crankshafts and additional engine assembly in support of current production and future engine applications. Alfa is a publicly traded firm in the petrochemical petrochemical, any one of a large group of chemicals derived from a component of petroleum or natural gas. The cracking processes for manufacturing gasoline produce vast quantities of gaseous hydrocarbons. , synthetic fibers Noun 1. synthetic fiber - fiber created from natural materials or by chemical processes man-made fiber fiber, fibre - a slender and greatly elongated substance capable of being spun into yarn acrylic, acrylic fiber - polymerized from acrylonitrile , steel, food, automotive components and telecommunications industries. In addition, Ford will distribute its 100% interest in Visteon to shareholders. The company, with $19 billion in annual revenue, is a leader in the areas where the industry is perceived to be moving, such as systems integration and electronics. |
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