SALVADOREAN RAILWAYS CO. LTD. (U.K.): Railway linking San Salvador-Sonsonate-Acajutla (1894). Nationalized in 1962. CH. BUTTERS CO. LTD. (U.S.)/(1) Butters Divisadero: gold mine (1901). (2) Butters Salvador Mines Co.: San Sebastian gold mine (1908). Both sold in the 1920s. ALL AMERICA CABLES (U.S.): Telegraph and telephone (190-). Nationalized in 1965. INT'L RAILWAYS OF CENTRAL AMERICA (U.S.): (1) Acq. San Miguel-La Union railway (1912). (2) Built El Salvador-Guatemala railway (1929; $12 m. inv.). CENTRAL AMERICA MINES (U.S.-Canada)/Cia. Mi- nera del Divisadero S.A.: Potosi gold mine and acq. 50% interest in San Sebastian mine. (192--1939). INT'L POWER CO. LTD. (Canada)/Cia. de Alumbrado EIctrica: Lighting and electric power (1926-1977). MONTE CRISTO MINING (U.S.): Gold mine (192-). Sold in 1969 to Canadian Javelin. ANGLO-SOUTH AMERICAN BANK LTD. (U.K.): Branch bank in San Salvador (193-). NEW YORK & HONDURAS ROSARIO MINING (U.S.) /N.Y. & El Salv. Mining Co. Inc.: Gold and silver mines (1946; $.1 m. inv.). Sold in 1953. GENESCO (U.S.)/Calzado Salvadorefno: Shoe factory, San Salvador. Acq. min. interest. (1953). INTERCONTINENTAL HOTELS (U.S.)/Hotel El Salvador Intercontinental, San Salvador (1954; $3 m. inv.). TOYO SPINNING CO. (Japan)/Industrias Unidas S.A. (IUSA): Cotton textile plant in San Salvador. JV with C. Itoh (1954; $2.4 m. inv.). Capacity increased 50%, 1971-2. Employed 1,850 as of 1973. INT'L BASIC ECONOMY CORP. (U.S.)/Productors de CAFE S.A.; Soluble coffee. 49% JV with Tenco and locals (1955; $1.3 m. inv.). PACIFIC VEGETABLE OILS-P.V.0. CORP. (U.S.)/ La Fabril de Aceoles: Vegetable oils, animal feed plant in San Miguel. 51% JV (1955). A B C (U.S.): Two TV stations (1956, 1959). SEARS ROEBUCK & CO. (U.S.): Dept. store in San Salvador (1956). STERLING DRUGS (U.S.)/Drogueria Centroamericana S.A.: Pharmaceuticals plant in San Salvador (1957). PILLSBURY (U.S.)/Molinos de El Salvador S.A.: Mill for imported wheat. 10% JV (1959). SHERWIN-WILLIAMS (U.S.)/S-W de Centro America S.A.: Paint factory. Min. interest JV (1959). BRITISH-AMERICAN TOBACCO CO. (U.K.)/Ciga- rreria Morazin: Large cigarette plant near Ilopango. JV (1959; $7.2 m. inv.). FOREMOST (U.S.)/Empresas Lacteas S.A.: Ice cream, milk and cheese plant. Acq. 60% interest (1960; $.3 m. inv.). CANADIAN SHELL CO. (U.K.-Dutch)/Refineria Petro- lera Acajutla S.A. (RASA): 13,500 b/d refinery at Acajutla for Venezuelan oil. 30% JV with ESSO, Salv. gov't (1960; $3 m. inv.). STANDARD OIL OF N.J.-ESSO* (U.S.)/RASA: See above. 65% JV with Shell, gov't (1960; $10 m. inv.). ESSO (U.S.)/Fertica S.A.: Fertilizer plant at Acajutla. Maj. interest JV (1962; $5 m. inv.). Sold to GUANOMEX in 1970. STANDARD BRANDS (U.S.)/Pan American Standard Brands Inc.: Baking powder, gelatins, mixes; San Salvador (1962). UNILEVER (U.K.-Dutch)/Industrias Unisolas S.A.: Detergents, margarine. JV with DeSola family (1962; $1 m. inv.). PHELPS-DODGE (U.S.): Copper telephone wires, San Salvador. 50% JV with gov't (1963; $2.5 m. inv.). WESTINGHOUSE ELECTRIC (U.S.): Motors, trans- formers, bulbs (1963; $1 m. inv.). CHORI CO. LTD. (Japan)/Confecciones Textiles Inter- Americanos S.A.: Synthetic fibers. JV (1963). ALCOA (U.S.)/Alcoa de Centroamerica S.A. (AL- DECA): Aluminum shapes from imported ingot. Acq. 80% interest (1963; $.4 m. inv.). SATOH AGRICULTURAL MACHINE CO. (Japan): Agricultural cultivators. JV (1963). PFIZER (U.S.): Pharmaceuticals plant. JV (1963; $1 m. inv.). IMPERIAL TOBACCO CO. LTD. (U.K.)/Lea & Perrins: Worchestershire sauce from imported ingredients. Maj. interest JV (1963). PROCTOR & GAMBLE (U.S.)/Folger y Cia.: Coffee buyers and instant coffee (1963). 31NACLA Report ATSA EXPORT-IMPORT INC. (U.S.): 2 large molasses storage terminals in Acajutla (1964; $.5 m. inv.). FIRST NATIONAL CITY BANK (U.S.): Bank branch in San Salvador (1964). FOREMOST (U.S.)/Corp. Bonima S.A.: Pharmaceuti- cals. Acq. 50% interest (1964). KIMBERLY-CLARK (U.S.): Tissue plant in Santa Tecla. 60% JV (1964). MONSANTO (U.S.): Insecticides from imported in- puts. 50% JV (1964). Closed in 1967. PHILLIPS N.V. (Dutch)/IMPELCA S.A.: Light bulbs, San Salvador (1964; $.56 m. inv.). LENOX (U.S.): Plastic dishes, San Salvador. JV (1964; $.15 m. inv.). New plant built in 1968. INT'L HARVESTER (U.S.): Truck, bus assembly, Santa Ana. Min. interest JV (1965; $.4 m. inv.). Closed 1969. SEKISUI CHEMICAL CO. LTD. (Japan)/Industrias de Tuberia S.A. (INTUSA): Plastic siding, tubing in San Salvador. JV (1965). CROWN ZELLERBACH (U.S.)/Cartonera Centroameri- cana S.A.: Cardboard containers from imported components. Min. interest JV (1965). MERCON A.B. (Sweden)/Vidrieria de Centroamerica S.A. (VISCA): Pressed and blown glassware. JV (1965; $1.8 m. inv.). AMERICAN STANDARD (U.S.)/Ideal Standard: Air cond. equipment assembly, San Salvador. 80% JV (1965; $.15 m. inv.). Sold in 1972. BEMIS (U.S.)/Bemis El Salvador: Multiwall bags, Santa Ana. 50% JV (1966; $.3 m. inv.). CHORI CO. LTD. (Japan)/Industrias Sinteticas: Syn- thetic fibers. JV (1966; $1 m. inv.). $10 m. expan- sion in 1978. MANHATTAN INDUSTRIES CO. (U.S.)/Gadala Maria Hermanos S.A.: Men's shirts (1966). Added women's sportswear in 1968. TEXACO (U.S.)/Texaco Caribbean Inc.: Lube oil blending in Acajutla (1967). McCORMICK & CO. (U.S.): Teas and spices, San Sal- vador (1968; $.2 m. inv.). CHASE INT'L INV. CO. (U.S.)/Financiera de la Pequefla Empresa S.A.: Financing firm. Acq. min. interest (1968). (German)/Implementos Agricolas Centroamericanos S.A. (IMCASA): Agricultural tools, Santa Ana. 28% JV (1968). U.S. STEEL (U.S.)/Metales y Estructuras (METASA): Galvanized pipes and forms, Acajutla. Acq. maj. in- terest (1968). B.F. GOODRICH (U.S.)/Quimicas Goodrich de Centro America S.A.: Polyvinyl chloride. 20% JV with IN- SAFI (1969; $4 m. inv.). 32Mar/Apr 1980 MOORE (Canada): Business papers, San Salvador. Acq. 49% interest (1969; $.1 m. inv.). CANADIAN JAVELIN (Canada)/Minas San Cristobal: (1) Acq. old properties of Monte Cristo (1969). (2) Opened Los Encuentros gold-silver mine in 1971. UNILEVER (U.K.-Dutch)/La Favorita S.A.: Soap factory. Acq. in JV with DeSola family (1969). WM. UNDERWOOD CO. (U.S.)/Productos Alimentic- las Underwood (PAUCASA): Deviled ham. (196-). Sold in 197-. BAYER FOREIGN INVESTMENTS (Germany)/Bayer Quimicas Unidas: Chemicals**. 98% JV (196-; $2.4 m. inv. as of 1978). CARGILL (U.S.): Animal feed products**. JV (196-). GUANOMEX (Mexico)/Fertica S.A.: Fertilizer plant, Acajutla. Acq. maj. interest (1970). WARD FOODS (U.S.)/Atarraya S.A.: Shrimp trawling and processing. Acq. maj. interest (1970). UNITED AIR LINES' WESTERN INT'L HOTELS DIV. (U.S.)/Hoteles S.A.: Camino Real San Salvador. JV (1970; $4.4 m. inv.). (South Korea)/Central American Tuna Freezing Co.: Fish freezing facility in La Uni6n. 50% JV (1970; $1 m. inv.). KIMBERLY-CLARK (U.S.): Crepe papers at Sitio del Ninio. 60% JV (1971; $3.2 m. inv.). TAPPAN CO. (U.S.)/Ideal Standard: Air cond. equip- ment assembly plant. Acq. 80% interest (1972). (Japan)/Cia. Textilera: Textile plant, Santa Ana (1972). ESSO, SHELL (U.S.)/Refineria Petrolera Acajutla S.A. (RASA): Asphalt plant in Acajutla. 95% JV with locals (1972; $1 m. inv.). TEXAS INSTRUMENTS (U.S.)/T.I. El Salvador Inc.: IC, semi-conductors and calculators, San Bartolo (1973). Employed 1000 in 1974. GUANOMEX (Mexico)/Fertica S.A.: Ammonium sul- fate plant in Acajutla (1974; $6 m. inv.). DATARAM CORP. (U.S.)/Dataram Int'l El Salvador C.A.: Computer memory cores, San Bartolo (1975). Employed 400 in 1976. BANK OF AMERICA (U.S.) Branch in San Salvador (1976). GUANOMEX (Mexico)/Fertica S.A.: Sulfuric acid plant in Acajutla. Maj. interst (1976). KAY ELECRONICS (U.S.): Electronics assembly plant, San Bartolo. JV (1976). SHELL CHEMICAL (Dutch)/Shell Qulmica de El Sal- vador: Insecticides, fungicides, herbicides. JV (1976). (German): Textiles. JV (1977; $2.4 m. inv.). BECKMAN INSTRUMENTS (U.S.)/APLAR (El Salva- dor) S.A.: Transistor assembly, San Salvador (1978). AVX CERAMICS CORP. (U.S.): Ceramic capacitors, San Bartolo (1978; $3.2 m. inv.). MAIDENFORM INC. (U.S.)/Confecciones de El Salvador: Lingerie (197 ). Sold in 197-. RAPID AMERICAN'S BEAU BRUMMEL DIV. (U.S.): "Aris Isotoner" leather gloves (197-). MAJOR INVESTMENTS IN DISTRIBUTION FACILITIES ESSO (U.S.)/West India Oil Co. (Central America): Oil distribution (194-). BRISTOL MYERS (U.S.)/Cia. B-M Centroamericana S.A.: Drug distribution (1963). RALSTON PURINA (U.S.)/Purina El Salvador: Chow warehousing, San Salvador (1966). STANDARD OIL CO. OF CALIFORNIA (U.S.)/Cia. Petrolera California-Chevron Ltd.: Oil distribution (1969). SINCLAIR OIL CORP. (U.S.)/Sinclair Caribbean Oil Co.: Oil distribution (196-). DOW CHEMICAL/Dow Qulmica Centroamericana S.A.: Chemicals sales, San Salvador (1970). MATUSHITA ELECTRICAL INDUSTRIAL CO. LTD. (Japan)/Nacional de El Salvador S.A.: Batteries, electrical goods, San Salvador (1973). This chart includes known direct foreign investments in El Salvador. It was prepared by Marc Herold, from the Multinational Enterprise Data Base (Durham, N.H.: Economics Program, University of New Hampshire). The parent company is listed first, followed by its local subsidiary and investment data. Unless otherwise in- dicated, all subsidiaries were established by the parent company. Location of subsidiary listed when available. JV= Joint Venture (with % owned by parent company) Min./Maj. = minority/majority interest Acq.= Acquisition Date in boldface= date of entry Inv. = initial capital invested in subsidiary ($ millions) INSAFI = Instituto Salvadoretno de Fomento Industrial. *ESSO is a major subdivision of Standard Oil of N.J. "**Products listed under Cargill and Bayer have not been confirmed by public sources.
