Word: consortium
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Ultimately, however, Impulsora hopes to turn out 15,000 to 20,000 Mexican-produced Borgward PP 100s and Isabellas each year. In the meantime, the new consortium expects to pick up change by selling spare parts to owners of the thousands of German-made Borgwards still in circulation all around the world...
...rumors that his Bremen plants were about to be sold to one or another of Detroit's Big Three. Last week, after six months of quiet negotiation, Borgward was finally sold for $14 million-but not to Detroit. The buyer turned out to be Impulsora Mexicana Automotriz, a consortium recently formed by top Spanish Truckmaker Eduardo Barreiros Rodriguez and a covey of Latin American entrepreneurs, including Bolivian Tin King Antenor Patino and Millionaire Mexico City Lawyer Ernesto Santos Galindo...
Ambitious purpose of the new consortium is to move Borgward's operations to Mexico, which is eagerly trying to build its own auto industry. First to move will be Borgward's body factory, subassembly and assembly plants. Until Mexican technicians can be trained, mechanical parts will be made in Bremen-and production of complete cars for the European market may also be resumed there...
Western European steelmen have already cut deeply into U.S. sales in other world markets. Since 1957, U.S. exports of tinplate have been slashed from 721,000 tons to 422,000 tons last year. Right in the U.S.'s backyard, a German consortium recently walked off with the $10.8 million contract to supply steel for the mile-long Balboa Bridge in Panama. Since every emerging nation wants its own steel mill as a status symbol, the competition for foreign markets is bound to get increasingly bitter. The Europeans, and the burgeoning Japanese steelmakers, can be expected to underbid their higher...
...signals to the remotest corners of the world. Both in Congress and the communications industry the burning question is: Who will own the satellites? Rising to champion private industry, Oklahoma's Democratic Senator Robert S. Kerr has introduced a bill that would give ownership to a consortium of established U.S. communications companies, presumably led by such titans as A.T. & T. and RCA. In the House, New York Democrat William Fitts Ryan has introduced a bill calling for the creation of a TVA in space...