Heinz into Zimbabwe?
NZPA-Reuter Salisbury Heinz, the United States food company, and the Zimbabwe Government are close to agreeing to a joint takeover of a local firm and an immediate investment in the country by Heinz of SUS2O million, diplomatic and business sources have said. The deal would give Zimbabwe its biggest single injection of private foreign capital since independence two years ago and it could encourage investments by other multinationals. - The diplomatic sources said that under the deal being negotiated Heinz would take 51 per cent and the Zimbabwe Government 49 per cent of Olivine Industries, a family-owned concern which produces vegetable oils, margarine and related products. Business sources said that the new company would grow its vegetables, princiS tomatoes, on Zim■e’s fertile soil and then process them for sale throughout southern Africa. One of Zimbabwe’s chief attractions to Heinz is that it offers year-round sunshine.
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Press, 13 April 1982, Page 14
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147Heinz into Zimbabwe? Press, 13 April 1982, Page 14
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