Word: jointed
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Dates: during 1990-1999
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...wage of Csepel employees, to about $210 a month, and demanded that they work full eight-hour shifts instead of leaving early to moonlight. Schwinn installed new painting and welding equipment and developed sporty new models. The company expects the improvements to pay off later this year when the joint venture starts exporting a new line of low-priced, 18-gear mountain bikes to the U.S. and West Germany...
...race to bring capitalist know-how to Hungary has produced a contest between two telecommunications companies, Colorado-based U S West and Atlanta's Contel Cellular. In a $10 million joint venture with the Hungarian state telephone company, U S West is installing a cellular-phone system in Budapest that is to begin service by the end of the year. Contel has linked with private Hungarian partners to form a competing $35 million venture that will start service in Budapest by early...
While Japanese automakers have lagged behind their Western counterparts as investors in East European countries, Suzuki Motor formed a $132 million joint venture in January to build small cars in Hungary. The agreement, which was reached after five years of negotiation, calls for the company to produce 15,000 Suzuki Swifts a year starting...
...ingenious deal, ICL, a British electronics giant, launched a 1988 joint venture called Furnel International with six Polish partners to make an unlikely combination of computers and furniture. Furnel exports the moderately priced furniture to Western store chains and uses the currency that it earns to buy computer parts from ICL. The venture then assembles the components in Poland and sells the computers to Polish buyers. ICL thus manages to tap markets in both Poland and the West and receive its payment in hard currency...
...firms that are racing to Eastern Europe could take a lesson from the patience shown by Minneapolis-based Control Data, which since 1973 has built disk drives and other computer products in Romania (pop. 23 million). The joint venture with a Romanian company, which took five years to turn a profit, exports half its output to the West. "The biggest problem was the lack of the business environment that we in the West are used to," recalls Helmut Koller, Control Data's marketing director for Eastern Europe. "We basically had to create our own suppliers...