Ford Motor Company (NYSE:F): Ford Motor Company and Automotive Components announced the signing of definitive agreements with Faurecia for the sale of the automotive interior trim components business, which is ACH’s only operation at its plant in Saline. Closure of the sales transaction and transfer of the business are scheduled for June 1. Nearly all employees associated with the business have been offered employment. The deal includes the formation of a new joint venture, Detroit Manufacturing Systems, between Faurecia and Rush Group, part of the Rush Group of companies that includes one of Ford’s largest minority- and woman-owned suppliers. DMS will do injection molding, assembly and sequencing of interior trim parts. About 500 people are expected to be employed at the DMS facility in Detroit.
Chesapeake Energy Corporation (NYSE:CHK): The Interior Department will release a new proposal on regulations for fracking on federal lands as soon as today, the head of the American Petroleum Institute, an energy company association, told The Hill yesterday. According to Bloomberg, a recent draft of the rules allowed companies to wait until after the fracking process was completed to disclose the chemicals they had used in the process, the publication added.
Research In Motion Limited (NASDAQ:RIMM): Despite rumors that Research in Motion (NASDAQ:RIMM) would ditch physical keyboards for future BlackBerry models, the company says it won’t lose focus on the keyboards. The new line of smartphones due for release later this year will include both touchscreens and keypads.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.