August 1, 1990 |
Fiat Group, Italy's largest industrial company, and Ford Motor Co. formed a joint venture Tuesday to merge their agricultural subsidiaries into a new company controlled by Fiat. The move further's Ford's goal of ridding itself of its non-automotive operations. Last week, Ford announced it was entering final negotiations with Loral Corp. of New York over the sale of Ford Aerospace Corp. In the agreement announced Tuesday, which must be approved by the Italian and U.S.