The mailing says United State investment in South Africa is growing at an alarming rate, tripling in size over the last decade from $500 million to $1.5 billion; ACOA opposes investment in South Africa, believing this carries grave implications for the future of United States foreign policy in a period of great change in southern Africa. The mailing says we are enclosing fact sheets highlighting two of the most important proposed investments : Caltex and Kennecott, which would increase U.S. investment in South Africa another 20%. The mailing says as in previous years, numerous Protestant church agencies and Roman Catholic orders will be challenging specific companies in which they hold stock...
The mailing says United State investment in South Africa is growing at an alarming rate, tripling in size over the last decade from $500 million to $1.5 billion; ACOA opposes investment in South Africa, believing this carries grave implications for the future of United States foreign policy in a period of great change in southern Africa. The mailing says we are enclosing fact sheets highlighting two of the most important proposed investments : Caltex and Kennecott, which would increase U.S. investment in South Africa another 20%. The mailing says as in previous years, numerous Protestant church agencies and Roman Catholic orders will be challenging specific companies in which they hold stock concerning different aspects of their involvement in southern Africa. The mailing says the major remaining shareholder resolutions call on Kennecott not to invest in South Africa; on Texaco (part owner of Caltex) not to expand operations in South Africa ; on IBM to produce a report on its government sales in South Africa; on Union Carbide to cut off its continuing importation of chrome from Rhodesia and on The Southern Company to stop its contract to import South African coal. The mailing says a background memorandum prepared by ACOA research director Jennifer Davis on a proposed investment in the Zulu "homeland" by Joseph Seagram and Sons, the liquor manufacturer, is available on request. The mailing says the director of the National Marine Fisheries Service has issued a ruling denying the Fouke Company of South Carolina a waiver to import annually 50,000 Namibian seal skins for luxury furs, because this would "not be consistent with the foreign policy of the United States". The mailing says also available is a report by George e M. Houser, ACOA executive Director on a seminary between representatives of the Peoples Republic of Angola and MPLA and 26 U.S. organizations, held in Havana , Cuba February 25-29. The mailing includes "Kennecott's Investment Plans in South Africa" and "Caltex's Expansion in South Africa". The mailing discusses the Interfaith Center on Corporate Responsibility (ICCR), Timothy Smith, the Congressional Black Caucus (CBC), Goler T. Butcher, T. Michael Peay, the Lawyers Committee for Civil Rights Under Law, Kennecott Coper Corporation, Quebec Iron and Titanium Corporation, the Industrial Development Corporation, the Union Corporation, Richards Bay, the KwaZulu Bantustan, the Milnerton refinery, and U.S. petroleum investments.
