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Ultimately, however, Impulsora hopes to turn out 15,000 to 20,000 Mexican-produced Borgward PP 100s and Isabellas each year. In the meantime, the new consortium expects to pick up change by selling spare parts to owners of the thousands of German-made Borgwards still in circulation all around the world...

Author: /time Magazine | Title: Latin America: Borgward Hits the Road | 7/27/1962 | See Source »

...there have been recurrent rumors that his Bremen plants were about to be sold to one or another of Detroit's Big Three. Last week, after six months of quiet negotiation, Borgward was finally sold for $14 million-but not to Detroit. The buyer turned out to be Impulsora Mexicana Automotriz, a consortium recently formed by top Spanish Truckmaker Eduardo Barreiros Rodriguez and a covey of Latin American entrepreneurs, including Bolivian Tin King Antenor Patino and Millionaire Mexico City Lawyer Ernesto Santos Galindo...

Author: /time Magazine | Title: Latin America: Borgward Hits the Road | 7/27/1962 | See Source »

...first practical examples of private U.S. capital going into Latin America on a partnership basis is at hand. Slim, shrewd Charles Foster Glore (of the investment banking firm of Glore, Forgan & Co.) has formed a Mexican corporation with a down-to-earth purpose and a jawbreaking name: Impulsora Comercial e Industrial S.A. (Industrial & Commercial Development Corp...

Author: /time Magazine | Title: Business & Finance: Partnership in Latin America | 5/24/1943 | See Source »

...Impulsora's backers (so far its capital is a modest $500,000) are 50% Mexicans, 50% U.S. citizens, but its president is 100%-Mexican Salvador Ugarte, who also heads Mexico City's potent Banco de Comercio. Its purpose is to find ways of investing the long-term capital of both countries in productive Mexican enterprise; its pet project is to help U.S. corporations establish branch plants that will be 50% Mexican-owned. Said Charlie Glore last week, understating the case for his corporation: "Business in Mexico is going to be small for some time ... it has to grow...

Author: /time Magazine | Title: Business & Finance: Partnership in Latin America | 5/24/1943 | See Source »

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