Word: renault
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Dates: during 1970-1979
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...could spend the next 20 years just keeping his $5 billion multinational growing in the tighteningly competitive auto market. He is busy now negotiating a deal with Renault to swap Swedish shares for French capital and front-wheel technology. But Gyllenhammar has a cause beyond cars. He is going through the world and warning that the industrial nations have a growing problem: "the mismatch between people and jobs...
...best future asset is the forthcoming liaison with France's rich dowager, Renault, which will eventually own 22.5% of American Motors stock. Renault's mini Le Car is selling well in AMC showrooms and drawing customers to some of American Motors' own models. Automakers will survive in the future, says Meyers, if they sharply focus their markets and hook up with international partners. Those that do not, he adds, "will be wiped out as thoroughly as Custer's 7th Cavalry...
...Renault buys a piece...
...small, but it is nimble. Last week American Motors Corp., which produces only 1.83% of the nation's cars, swung a deal with Renault, the French-owned automaker, that should help it cope with the expected demand for small, gas-stingy cars. AMC will get $150 million from Renault, $50 million in credits, and the rights to build the French company's newly designed front-wheel-drive car starting in 1982. The U.S. firm would thus have an entry to challenge General Motors' X-body compact cars, which are now being marketed, and the new models that...
...turn, by 1985 Renault will get a 22.5% interest in a company that, after teetering on the edge of disaster on and off for 25 years, is staging a modest rally, mainly because of the popularity of its reliable Jeep. In the nine months ended June 30, while Chrysler was sinking deeper into debt, AMC made a profit of $73.3 million, compared with $10.7 million in the same period a year earlier...