Manufacturing Goes Abroad
NEW YORK — AMERICAN manufacturers sharply increased their investment abroad in 1990, according to a report released today by the Conference Board. United States companies launched 271 projects - up 25 percent from 1989, the report says.
Chemical firms alone accounted for 59 of the 271 projects, followed by electrical and electronics manufacturers (39), and transportation companies (39).
Europe was the leading area for US investment, attracting 67 percent of all projects. In Eastern Europe, the number of US investment projects rose from nine in 1989 to 24 in 1990. Poland and Bulgaria won their first manufacturing investments from US firms. The Soviet Union gained seven projects, followed by Hungary (five) and Czechoslovakia and East Germany (four each).
In Asia, US investment projects rose 66 percent in 1990, including sites in Australia (15), Japan (12), China (seven), and Singapore (six).
Five corporations - Du Pont, General Motors, CPC International, Chrysler, and General Electric - accounted for 37 separate projects.