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FORD DISCUSSING 50 PERCENT INTEREST IN MAZDA'S MICHIGAN MANUFACTURING OPERATION

 FORD DISCUSSING 50 PERCENT INTEREST
 IN MAZDA'S MICHIGAN MANUFACTURING OPERATION
 DEARBORN, Mich., April 15 /PRNewswire/ -- Ford Motor Company (NYSE: F) has signed a Memorandum of Understanding with Mazda Motor Corporation and its U.S. manufacturing subsidiary, Mazda Motor Manufacturing (USA) Corporation ("MMUC"), regarding the intended acquisition by Ford of a 50 percent equity interest in MMUC. The acquisition would be accomplished through the purchase by Ford of newly issued shares.
 The proposed transaction has been submitted to the U.S. Federal Trade Commission and Department of Justice for review.
 "This would be an important step in our relationship with Mazda," said Harold A. Poling, chairman and chief executive officer, Ford Motor Company. "Ford already is a very important customer and supplier for the Flat Rock plant. With such a substantial stake in MMUC's success, it is only logical that we consider an equity position that fits our role."
 Ford, Mazda and MMUC hope to reach a final agreement by the end of June 1992. The parties plan to make no further announcement until negotiations have been completed.
 MMUC is currently a wholly owned subsidiary of Mazda Motor Corporation. Its Flat Rock, Mich., facility produces the Mazda 626 and MX-6 models and the Ford Probe.
 "The Ford Probe has proven to be popular here in North America, and also in Europe," said Poling. "Next year, the Probe will become the first American-built right-hand-drive Ford vehicle in recent history to be exported to Japan and the United Kingdom."
 -0- 4/15/92
 /CONTACT: Ken Brown of Ford, 313-322-9214/
 (F) CO: Ford Motor Company; Mazda Motor Corporation; Mazda Motor
 Manufacturing (USA) Corporation ST: Michigan IN: AUT SU: TNM


ML -- DE028 -- 8816 04/15/92 15:00 EDT
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Publication:PR Newswire
Date:Apr 15, 1992
Words:284
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