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AMC will report record second-quarter profit.

June 26, 1987

American Motors Corp. President Joseph E. Cappy also said the auto maker will pay executive bonuses for the first time in eight years. Cappy, speaking in Bramalea, Ontario, site of AMC's new high-tech assembly plant, declined to reveal how much AMC earned in the second quarter. AMC is scheduled to release the results in late July. "We expect to have a profit in the second quarter, a nice strong profit, a profit that after tax should be the highest in the history of the corporation," Cappy said. AMC is being purchased for $830 million by Chrysler Corp., which is already using AMC's Kenosha, Wis., assembly plant to build Chrysler large rear-wheel-drive cars and Chrysler's Omni-Horizon. Chrysler expects to complete the purchase, which still requires approval of three governments and AMC shareholders.

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