ABANDON JOINT VENTUREHIGHLAND PARK, Mich. - Chrysler Corp. and the French automaker Renault Vehicules Industriels announced Tuesday that they have ended their joint venture to develop and build a new mini sport-utility vehicle.
The venture, formed in February 1989 and known as Arcad SA, "is no longer economically attractive," the automakers said in a written statement. Tom Houston, a Chrysler spokesman, declined to elaborate.
USX AUTO PARTS UNIT
SOLD TO DUTCH COMPANY
NEW YORK - USX Corp., the Pittsburgh-based energy and steel conglomerate, said Tuesday it has sold FHS Stahlverformung GmbH, a wholly owned subsidiary, to Trustor Automotive of the Netherlands for an undisclosed price.
FHS, an automotive components producer, is a leading European supplier of gearshift levers and assemblies. Trustor Automotive supplies components and systems to the automotive industry.
US OFFICIAL TO CHECK
KOREAN STORE SHELVES
WASHINGTON - A top aide of U.S. Commerce Secretary Robert Mosbacher will inspect retail store shelves in Seoul next week in connection with reports that South Korea is reviving restrictions against imports, Commerce Department officials said Monday.
Mr. Mosbacher told members of a high-level South Korean trade delegation he "hopes that the reports are not true," but he is asking his department counselor, Wayne Berman, to make a "seeing is believing" check into stores during his visit to address a U.S.-Korean business conference, a Commerce spokeswoman said.
Kum Jin-ho, former trade minister who is leader of the mission, acknowledged there were fewer luxury goods in some stores but denied it was the result of government policy.