Ford raises stakes in Jiangling

Article Abstract:

Ford Motor Co. is increasing its stake in Chinese auto maker Jiangling Motors Corp. from 20% to 30% upon its investment of $54.5 million to subscribe to 120 million new shares in Jiangling's Class B shares. The move places Ford another step closer to taking control of Jiangling and will expand the Chinese production of the Ford Transit minivan, which is expected to take a huge part of automobile demand in China in 1998. Ford is also close to gaining control of the management in Jiangling as it wins two new seats at the latter's board of directors, giving it five of the 11 positions in the board.

Comment:

Is increasing stake in Jiangling Motors from 20% to 30% upon investment of $54.5 mil, China

Asset sales & divestitures, Acquisitions & mergers, Foreign operations, Motor Vehicles & Parts, Transportation Equipment Manufacturing, Ford Motor Co., Jiangling Motors Corp., Article

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Trail of risk-taking tales

Article Abstract:

The Chinese fighter pilot who ejected after colliding with a U.S. surveillance plane is seen as a risk-taking aviator. The search for Wang Wei also represents China's difficulties in modernizing its military, as it had to use fishing ships as well as navy vessels to look for the pilot.

International Affairs, Intnl Political Relations, International politics, National Security, Active Military Personnel, Accidents, Portrayals, Chinese foreign relations, Military aspects, United States foreign relations, International relations, Military personnel, U.S. Navy Spy Plane Incident, 2001, Fighter pilots, Wang Wai

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