Our sister newspaper Automotive News is reporting today that International Automotive Components Group, the company owned by billionaire Wilbur Ross, has a deal to buy Collins & Aikman Corp.'s plant in Hermosillo, Mexico. According to the story, Ross is paying $17 million and assuming some liabilities to buy the plant out of Chapter 11 bankruptcy protection.
The 430,000-square-foot plant generates more than $200 million in sales annually supplying complete interiors to Ford Motor Co.'s Hermosillo assembly plant. Ford makes the Fusion sedan at the plant. In an interview today, Ross said he likes the location and the Ford business the plant provides. He has bought distressed assets in recent months from Collins & Aikman and Lear Corp. to create a worldwide parts business of about $5 billion.In case you forgot, the Hermosillo plant is the C&A plant that briefly halted shipments to Ford back in October because of a long-running pricing dispute.