• Short Summary

    A LOAN AGREEMENT WAS SIGNED IN WASHINGTON YESTERDAY (FRIDAY) WHICH WILL ENABLE GHANA TO ESTABLISH THE FIRST TYRE FACTORY IN THE COUNTRY.

  • Description

    A LOAN AGREEMENT WAS SIGNED IN WASHINGTON YESTERDAY (FRIDAY) WHICH WILL ENABLE GHANA TO ESTABLISH THE FIRST TYRE FACTORY IN THE COUNTRY. THE AMOUNT OF THE LOAN WAS 2.8 MILLION U.S. DOLLARS.

    THE PRESIDENT OF THE EXPORT-IMPORT BANK OF THE UNITED STATES, HAROLD F. LINDER, SIGNED ON BEHALF OF THE LENDER AND MR. E.H. BATON, TREASURER OF THE FIRESTONE TYRE AND RUBBER COMPANY, AKRON, DHIO, SIGNED FOR THE BORROWERS - FIRESTONE GHANA LIMITED. PRESENT AT THE SIGNING CEREMONY WAS THE GHANAIAN AMBASSADOR TO AMERICA, HIS EXCELLENCY EBENEZER DEBRAH.

    THE PROCEEDS OF THE LOAN WILL BE USED TO HELP PURCHASE AMERICAN EQUIPMENT AND SERVICES NEEDED TO ESTABLISH THE FACTORY. THE NEW PLANT WILL BE LOCATED AT BONSASO IN GHANA'S WESTERN REGION.

    OWNERSHIP OF FIRESTONE GHANA, IS DIVIDED BETWEEN THE GOVERNMENT OF GHANA AND THE FIRESTONE TYRE AND RUBBER COMPANY.

    USING GHANAIAN RUBBER, THE BONSASO PLANT WILL PRODUCE ENOUGH TYRES TO MEET OVER HALF OF GHANA'S DEMAND FOR REPLACEMENT TYRE. AT PRESENT, GHANA IS USING FOREIGN EXCHANGE TO IMPORT SOME 170,000 TYRES ANNUALLY. THE NEW PLANT IS SCHEDULED TO GO INTO PRODUCTION IN LATE 1969.

    AS PART OF ITS DEVELOPMENT PROGRAMME IN GHANA, FIRESTONE WILL PROVIDE TECHNICAL AND MANAGERIAL TRAINING FOR GHANAIAN NATIONALS BOTH IN GHANA AND AMERICA.

  • Tags

  • Data

    Film ID:
    VLVA8W9RB8YZ2HX1TERHJH5HOE6NF
    Media URN:
    VLVA8W9RB8YZ2HX1TERHJH5HOE6NF
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    29/06/1968
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:01:34:00
    Time in/Out:
    /
    Canister:
    N/A

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