October 3, 2005
Ford announces new long-term agreements with suppliers
Dearborn, Michigan – Ford Motor Company has announced it is entering into new long-term agreements with select suppliers globally, in order to develop a sustainable business model.
The new “Aligned Business Framework” agreements establish working business models for both Ford and the suppliers. The agreements comprehensively and formally spell out practices designed to increase future collaboration, including up-front payment of engineering and development costs and extended sourcing. As part of the deal, Ford intends to significantly expand its volume of business with the suppliers. The initial suppliers are Autoliv, Delphi, Johnson Controls, Lear, Magna, Visteon and Yazaki.