REGION

REGION

Stoneridge acquires 51% of electrical-system supplier

HOWLAND — Stoneridge said Tuesday that it has signed an agreement to acquire 51 percent of Bolton Conductive Systems, an electrical-system supplier based in Walled Lake, Mich.

The deal calls for a payment of $5.87 million with additional payments depending on the company’s performance in the next three years. Stoneridge will have the option to buy all of the company in 2013.

BCS designs and manufactures a wide variety of electrical products for the military, automotive, marine and specialty vehicle markets.

Stoneridge is based in Howland but does nearly all of its manufacturing outside the Mahoning Valley.

NATION

Ford to recall older autos because of faulty switch

DETROIT — Ford Motor Co. said Tuesday it will add 4.5 million older- model vehicles to the long list of those recalled because a defective cruise-control switch could cause a fire.

Company spokesman Wes Sherwood said 1.1 million Ford Windstar minivans will be recalled for repairs due to a small risk of fires.

He said another 3.4 million Ford, Lincoln and Mercury vehicles with the same switches also will be recalled even though there have been no reports of fires with them.

Those vehicles mainly are trucks and sport utility vehicles.

All vehicles covered by the recall are from the 1992 to 2003 model years.

Vindicator staff/wire reports