Ford (F) agrees to sell its climate-control business to Detroit Thermal Systems, a JV of...

|About: Ford Motor Company (F)|By:, SA News Editor

Ford (F) agrees to sell its climate-control business to Detroit Thermal Systems, a JV of France's Valeo and entrepreneur Vincent Johnson. While the price is undisclosed, the deal is significant because it represents the final step in a 2006 plan to cut Ford's North American workforce and sell its Visteon (VC) parts facilities. The plan was put in place by Mark Fields, hotly tipped to be Ford's next CEO. (PR)