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Ford to Disinvest in S. Africa

November 24, 1987|Associated Press

JOHANNESBURG, South Africa — The Ford Motor Co., one of the biggest American companies in South Africa, has agreed to disinvest from the country but will still sell vehicles here, officials said today.

Ford has a 42% interest in the South African Motor Corp., known as SAMCOR. The giant U.S. auto maker will donate 24% to SAMCOR employees and sell the remaining 18% to the Anglo American Corp. and its subsidiaries, Anglo said in a statement. Ford will still supply SAMCOR with vehicles, parts, management and technical assistance and allow SAMCOR to use the Ford trademark, the statement added.

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