/ 25 October 2000

MITSUBISHI CEMENTS SOUTH AFRICAN LINK

SCANDAL-HIT Mitsubishi Motors Corp (MMC) is to transfer its production and sales of Mitsubishi cars and light trucks from Ford Motor Company to DaimlerChrysler South Africa (DCSA), the Japanese firm said in a statement. The agreement comes a week after DaimlerChrysler completed a $1.9bn transaction to take a 34% stake in MMC. The price was reduced by 10% after MMC admitted to concealing complaints about defective vehicles. – Reuters