Word: kaisers
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Dates: during 1960-1969
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...joint ventures. Last year, for example, Westinghouse Electric acquired Florida's Coral Ridge Properties and is now busy building a city for 60,000 residents near Fort Lauderdale. Pennsylvania Railroad's Macco Realty Co. is developing an 87,500-acre Rancho California community near Los Angeles with Kaiser Industries and Kaiser Aluminum & Chemical Corp. American Standard Inc., the nation's biggest plumbing manufacturer, this year joined a 4,500-house venture in California's Ventura County...
Ford's thoughts coincided with those of California Industrialist Edgar F. Kaiser, who also sensed a rising demand among Brazilians for more and better cars. Kaiser, with a 38% interest in Willys, has been building autos in Brazil since 1953, but has gradually realized that despite a lucrative business-Willys built 62,809 cars in Brazil last year -he has neither the technology nor the capital to keep up with a changing market. As part of a $40 million deal, he agreed to sell out to Ford...
Along with the Kaiser interest, Ford is buying a 14% share in Willys-Overland do Brasil held by Renault of France, whose Gordinis roll off the same assembly lines. The remaining shares are held by 45,000 Brazilian investors who now, to their delight, become partners of Henry Ford. Renault, which is Kaiser's partner in an Argentine car company called Industrias Kaiser Argentina, will acquire a controlling share of that firm. Renault will buy up a major part of Kaiser's 30% interest, as well as 14% held by two Argentine banks. Ford will also acquire Transax...
...arrangement seems to satisfy everybody. Kaiser, which plans to continue building its Jeeps in 32 countries, will gain additional funds for that and its other worldwide construction and manufacturing operations. Renault will concentrate on Argentina, where Italy's Fiat has been pushing hard to replace
Industrias Kaiser Argentina as the nation's biggest automaker. Ford will have a broader base from which to operate in Latin America. Brazilians may not realize immediately that they have a Ford in their future. Ford will continue to make Aero-Willys, Itamaratys and Gordinis for the time being; it will likely replace them later with Galaxies and a brand-new, still secret, five-passenger car known only...