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FORD MOTOR CO. TO FORMALLY RE-ENTER S. AFRICA

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Six years after disinvesting because of apartheid, Ford Motor Co. says it will would buy back some of the operation it left behind and formally re-enter South Africa.

The size of the investment was not disclosed, but Ford promised to inject cash, new equipment and products into South African Motor Corp. Ltd., known as Samcor, which assembles Ford, Mazda and Mitsubishi vehicles.Ford's move doesn't contain new investment sought by the government to create jobs, but a return to existing facilities. Nelson Mandela's African National Congress won the nation's first all-race election in April ending apartheid and has been seeking foreign investment.

The agreement signed by officials from Ford and Anglo American Industrial Corp. Ltd., the holding company for Samcor, gives each a 45 percent stake in Samcor, with the Samcor Employees Trust holding the remaining 10 percent.

Ford named Jim Miller, previously director of its Eastern Europe operations, as Samcor's new managing director and chief executive.

Samcor sells about 11 percent of the approximately 200,000 passenger cars sold annually in South Africa.

Ford South Africa, a subsidiary of Ford Canada, operated in the country from 1933 until 1985, when it merged with Anglo American's automotive operations to form Samcor.

It pulled out of South Africa in 1988 because of U.S. sanctions imposed against the apartheid system of white dominance and racial segregation. When it divested, Ford Canada turned over the larger part of its holdings to Samcor Employees Trust.

Since the end of white rule, other companies that have returned or plan to return to South Africa include Pepsi-Cola International, Hyatt International Hotels, CPC International, Eastman Kodak, Honeywell Corp. and Sara Lee Corp.