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FOREIGN DIRECT INVESTMENT IN THE UNITED STATES 1985 Transactions ^ tes U.S. DEPARTMENT OF COMMERCE International Trade Administration September 1986 FOREIGN DIRECT INVESTMENT IN THE UNITED STATES 1985 Transactions U.S. DEPARTMENT OF COMMERCE Office of Trade & Investment Analysis International Trade Administration September 1986 For sale by the Superintendent of Documents, U.S. Government Printing Office Washington, D.C. 20402 Preface This report covering 1985 is one of an annual series of publications on foreign direct investment transactions in the United States. The reports have been prepared by the Office of Trade and Investment Analysis and its predecessor units, the Office of International Investment and the Office of Foreign Investment in the United States. The transactions listings are arranged by the primary industrial classification of the U.S. company owned/controlled by foreign investors (Appendix A), and by source country of the foreign investors (Appendix B). Only completed transactions are listed. This contrasts with previous editions of this report in which completed and pending transactions were included. As always, calculations of trends are based upon completed transactions. - 2 - Table of Contents Page Introduction............................................................ .6 Overview of Foreign Direct Investment In the United States, 1985........................................... .8 Investment by Source Country........................................... .9 Investment by Industry (SIC)........................................... .15 Mode of Investment Transaction..........................................30 Location of Investment by State............................ .......... .33 Major Sectoral Developments............................................ .36 Appendix A: Listing of Transactions by Standard Industria1 Classification (SIC)............... .60 Appendix B: Listing of Transactions by Source Country............................................ .83 Appendix C: Description of Key Terms................................. .101 - 3 - List of Summary Tables Page Table I Table II Table Table Table Table III IV V VI Source Country - Completed Cases - 1985................ 2 Number of Identified Completed Transactions, by Source Country, 1981-1985......................... 14 Direct Investment Distribution by Industry Subsector of U.S. Affiliate - Completed Transactions 1985........................................ 16 Direct Investment Distribution by Industry Subsector of U.S. Affiliate and Country of Foreign Parent - Completed Transactions 1985........... 20 Mode of Investment by Source Country, Completed Transactions, 1985............................ 31 State Location of Foreign Investments, 1985............ 34 - 4 - List of Figures Page Figure 1 Total Number of Foreign Direct Investments 1977-1985........... 9 Figure 2 Number of Investments by Major Source Country, 1985............ 10 Figure 3 Number of Investments by Industry, 1985......................... 15 Figure 4 Number of Investments by State, 1985............................. 33 Figure 5 Number of Investments in the Metal Mining Industry, 1980-1985.. 37 Figure 6 Number of Investments in the Oil and Gas Extraction Industry, 1980-1985................................... 39 Figure 7 Number of Investments in the Foods Industry, 1980-1985......... 40 Figure 8 Number of Investments in the Paper Industry, 1980-1985..... . 42 Figure 9 Number of Investments in the Printing and Publishing Industry, 1980-1985................................... 44 Figure 10 Number of Investments in the Chemical Industry, 1980-1985..... 46 Figure 11 Number of Investments in the Petroleum Refining Industry, 1980-1985...................................... 47 Number of Investments in the Primary Metal Industry, 1980-1985............................................... 49 Figure 12 Figure 13 Number of Investments in the Machinery Industry, 1980-1985.... 50 Figure 14 Number of Investments in the Electrical Industry, 1980-1985............................................... 52 Number of Investments in the Transportation Industry, 1980-1985............................................... 53 Number of Investments in the Railroad Transportation Industry, 1980-1985............................... 55 Number of Investments in the Retail Trade Industry, 1980-1985......................................... 56 Figure Figure Figure 15 16 17 Figure 18 Number of Investments in the Financial Sector, 1980-1985...... 58 Figure 19 Number of Investments in the Real Property Sector, 1980-1985... 59 - 5 - INTRODUCTION The purpose of this report is to identify specific foreign direct investment transactions in the United States during 1985, analyze recent trends in such investment, and provide data and related information on significant transactions. The report incorporates information obtained in fulfilling responsibilities assigned to the Secretary of Commerce by Executive Order No. 11858, dated May 7, 1975. Specifically, the Secretary of Commerce is responsible for "the obtainment, consolidation, and analysis of information on foreign direct investment in the United States." Foreign direct investment, as used in this report, means the direct or indirect ownership of 10 percent or more of the voting securities of an incorporated business enterprise, or an equivalent interest in an unincorporated business enterprise, and a 10 percent or more interest in real property transactions. Transactions values, as used in this report, refer to the reported total cost of the investment regardless of the source or timing of funds. In the case of a joint venture, the estimated foreign ownership proportion of the investment is cited. These values are intended to identify the relative size of various investments and, in the aggregate, indicate trends in investment activity. The data and other information contained in this report represent a compilation and distillation of material available from generally-available public sources, transaction participants, and miscellaneous contacts. A major portion of the data and information was derived from public secondary sources such as newspapers, magazines, and business and trade journals, as well as from the public files of Federal regulatory agencies. In all instances, the monetary values and numbers of investments given in this report include only those identified in these sources and should not be considered a compilation of the entire universe of FDI transactions. The primary Federal agency sources for publicly available data are the Securities and Exchange Commission (SEC), the Federal Trade Commission (FTC), and the Federal Reserve Board (FRB). Much of the data obtained from Federal regulatory agencies originated from report series that differ widely in frequency and content. These reports are, in most cases, filed in response to the various agencies' general regulatory responsibilities, rather than for the specific purpose of providing data on foreign investment. Other investment transaction and related data collected by the Federal government are not available for this report, since much of this information is business confidential and is collected strictly to facilitate Federal regulatory responsibilities or to provide aggregate data for macro-economic analysis purposes. - 6 - It should be noted that the aggregate data in this report are not strictly comparable to the other major statistical series on foreign direct investment in the United States, published by the Commerce Department's Bureau of Economic Analysis (BEA). The BEA aggregate dollar value data on new investments, published annually since 1979, are based on Individual firm responses to mandatory reporting requirements (including strict confidentiality provisions protecting the identity of individual reporters). The BEA data are thus likely to provide more comprehensive coverage for the types of transactions included in BEA's reporting requirements. On the other hand, the information contained in this report not only identifies individual transactions, but includes a broader range of investment transactions than the BEA data — particularly with regard to plant expansions, equity increases, and certain types of real estate investments. Consequently, the two data series should not be directly compared, although there has been significant correlation in the movement of the overall series over the last several years. While every effort was made to verify the information obtained from public sources, the U.S. Department of Commerce is not responsible for any inaccuracies or gaps in information presented in this report. Transaction values for many investments are not publicly available. Nevertheless, experience has shown that value and other data for the large majority of major investments are identified in the monitoring process. Copies of this report are available from the Office of Trade and Investment Analysis, Room 2217, International Trade Administration, U.S. Department of Commerce, Washington, D.C. 20230. - 7 - Overview of Foreign Investment in the United States, 1985 The Office of Trade and Investment Analysis (OTIA) identified from public sources 912 completed foreign direct investment transactions during 1985. Values were reported for 350 of these individual transactions, for a total of $20.9 billion. Appendices A and B contain listings of all the completed transactions identified during 1985. The total number of transactions completed in 1985 increased by less than one percent over the 907 reported for 1984 (see Figure 1). In value terms, the 1985 total reflects a decrease of 5.4 percent from the total identified value for 1984. Despite this decrease, a few large transactions continued to account for a substantial part of the total values. In 1985, nine transactions of $500 million or more each had a combined total of $8.6 billion, 41 percent of the total reported value. The two largest transactions of 1985 each had a value $1 billion or more, with an aggregate value of $4 billion, 19 percent of the total values. The rise in 1985 foreign direct investment was consistent with international economic trends during the year. U.S. economic activity continued to grow following the recession of 1981/82, which may have deferred new investments until 1984 and 1985. This renewed confidence in the U.S. economy with markedly improved earnings— as well as the potential earnings— of many U.S. businesses, made them more attractive candidates for acquisition. In addition, the surge in the U.S. economy improved the earnings of both U.S. affiliates and their foreign parents, providing an increase in funds for investment here. These factors supplemented more traditional reasons to invest in the United States, such as access to a large homogeneous market and political stability. From a national perspective, the large current account surpluses being generated by Japan and certain European economies in recent years have generated a large pool of foreign-owned dollar-denominated assets available in part for FDI transactions in the United States. For the first time since the end of 1980, the dollar depreciated against most major foreign currencies in 1985. Although a decline in the dollar lowers the foreign-currency value of dollar income from investments, direct investments typically represent a long-term commitment to do business in the United States and, thus, appear not to be materially influenced by short-term fluctuations in the value of the dollar. - 8 - Figure 1 TOTAL N U M B E R OF FO RE IG N DIRECT I N V E S T M E N T S , 1 9 7 7 -1 9 8 5 YE A R S Investment by Source Country The major industrialized countries in 1985 retained their traditional role as the source of most direct investment activity in the United States. Seven nations— Canada, France, West Germany, Japan, the Netherlands, Switzerland, and the United Kingdom— accounted for 703 transactions, or 77 percent of the total transactions, slightly more than the comparable percentage for 1984. The identified aggregate value of these transactions ($18.2 billion), represents 87 percent of the total identified value. - 9 - In 1985, as in 1984, Japan was responsible for the largest number of investment transactions. (See Table 1.) Twenty-four percent of all transactions (216) originated in Japan, with 89 identified values totalling $2.5 billion. The United Kingdom was the primary source country in terms of total identified values, with 83 identified values totalling $5.6 billion, and second in terms of the total number of investments, with 176 transactions. Canada was the third largest source country in terms of the number of investments, with 101 transactions and 41 identified values totalling $2.6 billion. West German investors accounted for 69 transactions, followed by France (61), the Netherlands (44), and Switzerland (36). Figure 2 NUMBER OF INVESTMENTS BY SOURCE COUNTRY 1985 JAPAN 216 ALL OTHERS 209 22.9% SWITZERLAND 36 3.9% UNITED KINGDOM 176 19.3% NETHERLANDS 44 4.6% FRANCE 61 6.75S GERMANY, F.R. 69 7.6% CANADA 101 11.1% 10 Table 1 shows the number of completed transactions with identified values for 1985, while Table 2 reveals the continuing dominance of the major industrialized countries (also our largest trading partners) as sources of foreign direct investment in the United States. Table I Source Countries - Completed Cases - 1985 - 11 - REPORT PERIOD • ’ 12 - 01/85 - 12/85 TABLE I. S O U R C E C O U N T R I E S - C O M P L E T E D C A S E S - 1 9 8 5 ---------- G R D U P = P R I N C I P A L S O U R C E C O U N T R I E S ---------- COUNTRY CANADA FRANCE GERMANY, FEDERAL JAPAN NETHERLANDS SWITZERLAND UNITED KINGDOM GROUP REP NUMBER OF C A S E S NUMBER CASES/ VALUE KNOWN VALUE ($ M I L L I O N ) 101 61 69 216 44 36 176 41 16 20 89 11 17 83 2596.3 346.1 1642.9 2475.1 1969.6 3616.5 5574.9 703 277 18221.5 ^DHIIP-nTUPD C FIUIPDP K U r lP ____ _______ COUNTRY AUSTRIA BELGIUM DENMARK FINLAND IRELAND ITALY LIECHTENSTEIN NORWAY SPAIN SWEDEN GROUP NUMBER OF C A S E S NUMBER CASES/ VALUE KNOWN VALUE ($ M I L L I O N ) 2 17 12 8 10 24 2 9 2 22 1 3 4 1 3 8 1 2 1 7 2.8 53 . 0 190.3 100.0 168.0 60 . 7 8.5 6.5 0.2 71 .7 108 31 661 .7 NUMBER OF C A S E S NUMBER CASES/ VALUE KNOWN VALUE ($ M I L L I O N ) 2 7 3 1 5 1 190.0 366 .3 4.0 12 7 560.3 GROUP=OPEC COUNTRIES COUNTRY KUWAIT SAUDI ARABIA VENEZUELA GROUP rDnilD-OTUCD T uui. nm I ui\uui -u iiiurv M iix lT P A C T COUNTRY NUMBER OF CASES NUMBER CASES/ VALUE KNOWN VALUE ($ M I L L I O N ) BAHRAIN EGYPT ISRAEL LEBANON 1 1 4 1 1 0 0 1 3.7 . 2.8 - 13 REPORT PERIOD : 01/85 - 12/85 T A B L E I. SOURCE C O UN TR IE S - C O M P L E T E D C A SE S - 1985 G R O U P = O T H E R M I D D L E EAST COUNTRY GROUP ------------------------ NUMBER OF C A SE S NUMBER CASES/ VALUE KNONN VALUE ($ M I L L I O N ) 7 2 6.5 G R O U P = O T H E R A S I A A N D P A C I F I C ---------------- COUNTRY NUMBER OF CASES NUMBER CASES/ VALUE KNONN VALUE ($ M I L L I O N ) AUSTRALIA CHINA CHINA(TAINAN) HONG KONG INDIA INDONESIA K O R E A , R E P U B L I C OF NEN ZEALAND PAKISTAN SINGAPORE 15 5 2 17 2 1 7 5 1 2 7 1 1 6 1 0 0 2 1 2 867.2 1 .7 6.0 203.9 4.1 # GROUP 57 21 1272.2 5. 3 4.0 18 0 . 0 GROUP=OTHER WESTERN HEMISPHERE COUNTRY NUMBER OF CA SES BERMUDA BRAZIL JAMAICA NETHERLANDS ANTILLES PANAMA 1 2 1 10 1 GROUP 15 ------------------------COUNTRY GAMBIA, THE ICELAND SOMALIA SOUTH AFRICA TURKEY UNSPECIFIED GROUP NUMBER CASES/ VALUE VALUE KNONN ($ M I L L I O N ) 1 1 2. 3 19.6 0 33.0 0 6 8 54.9 G R O U P = A L L O T H E R C O U N T R I E S ------------------NUMBER OF C A S E S NUMBER CASES/ VALUE KNONN VALUE ($ M I L L I O N ) 1 1 1 5 1 1 1 0 0 2 0 1 31 .0 10 4 117.5 912 350 20894.6 . . 76 .8 . 9.7 Table II Number of Identified Competed Transactions By Source Country, 1981-1985 Source Country 1981 TOTAL Canada 1982 1983 # X # 1203 100.0 913 291 24.2 161 1984 X 100.0 # 751 X 100.0 17.6 97 12.9 127 1985 # X # 907 100.0 912 14.0 101 X 100.0 11.1 France 645.3 52 5.7 48 6.4 54 5.9 61 6.7 Germany, F.R. 917.6 66 7.2 72 9.6 76 8.4 69 7.6 15.7 105 14.0 198 Japan 129 10.7 143 21.8 216 23.7 Netherlands 584.8 46 5.0 47 6.3 38 4.0 44 4.8 Switzerland 363.0 21 2.3 28 3.7 26 3.0 36 3.9 United Kingdom 182 15.1 180 19.7 159 21.1 171 18.8 176 19.3 All Others 352 29.3 244 26.8 195 26.0 217 24.1 209 22.9 - 14 - - 15 - Investment by Industry During 1985, the two major industry sectors, manufacturing and wholesale trade, accounted for slightly over 50 percent of the foreign direct investment transactions. The manufacturing sector continued to be predominant in terms of the number of transactions and overall values, with 356 transactions and 152 identified values amounting to $11.8 billion. In value terms, this represents more than a two-fold gain over the 1984 value of $5.5 billion. The number of transactions identified in the wholesale trade sector remained relatively unchanged in 1985, with 104 transactions. In terms of dollar value, however, the identified value fell from $521.7 million in 1984 to $86.1 million in 1985. The real property sector, historically the second largest industry sector, accounted for nearly 10 percent of total transactions, with 90 transactions. Values for 61 transactions totalled $2.5 billion. In the hotel sector (SIC 70), a further 27 transactions were identified with values for 18 of them totalling $1.1 billion. Figure 3 below shows the principal industry sectors by value. Table III shows the investment activity in each Standard Industrial Classification (SIC) sector. Table IV highlights the trend in completed cases by source country in each SIC sector for 1985. Figure 3 NUMBER OF INVESTMENTS BY INDUSTRY 1985 MANUFACTURING WHOLESALE TRADE 104 11.4% SERVICES 102 11.2% ALL OTHERS 178 19.5% REAL PROPERTY MINING 82 0% - 16 REPORT PERIOD 01/85 - 12/85 T A B L E III D I R E C T I N V E S T M E N T D I S T R I B U T I O N BY I N D U S T R Y S U B S E C T O R OF U.S. A F F I L I A T E - C O M P L E T E D T R A N S A C T I O N S - 1 9 8 5 C L AS S= NO T REAL PROPERTY SECTOR=A AGRICULTURE, SIC NUMBER 01 A G R I C U L T U R A L 07 A G R I C U L T U R A L PRODUCTION SERVICES LLMj NUMBER CASES/ VALUE KNOWN VALUE ($ M I L L I O N ) 3 1 0 1 3^0 4 1 3.0 NUMBER OF C A S E S NUMBER CASES/ VALUE KNOWN VALUE ($ M I L L I O N ) 10 2 65 4 7 1 32 0 124.4 42.0 2731.0 81 40 2897.4 NUMBER OF C A S E S NUMBER CASES/ VALUE KNOWN VALUE ($ M I L L I O N ) 7 2 1 0 5.8 • 1 5.8 - CROPS j -NU 1 K l AL r K U r t K I T SIC NUMBER 10 12 13 14 SECT0R=B MTMTUP METAL MINING B I T U M I N O U S COAL A N D LI GN IT E M I N I N G OIL A N D G A S E X T R A C T I O N NO NM ET AL LI C MINERALS, EXCEPT FUELS SECTOR —————— —— — ————— — l/LHJJ“ HU 1 rvL_HL l r\UI lLi\ 1 I SIC NUMBER c c r mUI\“U o - r rnucTDiirTT nu JLV/I V/UI 15 G E N E R A L B U I L D I N G C O N T R A C T O R S 16 H E A V Y C O N S T R U C T I O N C O N T R A C T O R S SECTOR ____ ______________ ___ __ __ _ 9 _ _______ _____ pi A1 p 1#L A A jQQ-KinT j rlU 1 P KF l AL »p K nU Pi Fu PK T1YT SIC NUMBER 20 21 22 23 25 26 27 28 29 30 31 32 33 34 FOOD AND KINDRED PRODUCTS TOBACCO MANUFACTURES T E X T I L E MILL PRODUCTS APPAREL AND OTHER TEXTILE PRODUCTS FURNITURE AND FIXTURES PAPER AND ALLIED PRODUCTS PRINTING AND PUBLISHING CHEMICALS AND ALLIED PRODUCTS P E T R O L E U M AND COAL PRODUCTS R U B B E R A N D MI SC . P L A S T I C S P R O D U C T S LEATHER AND LEATHER PRODUCTS ST O N E , C L AY , A N D G L A S S P R O D U C T S PRIMARY METAL INDUSTRIES FA BR IC AT ED METAL PRODUCTS AND FISHING NUMBER OF C A S E S SECTOR “ FORESTRY, ^L p Ur f1nU o mamiicattiidt w K*n U PIANUrAU 1U K 1 Nm cUi — — _ __ NUMBER OF C A S E S NUMBER CASES/ VALUE KNOWN VALUE ($ M I L L I O N ) 25 1 4 4 1 13 29 59 8 15 1 21 23 12 8 0 0 1 0 7 7 25 4 6 1 10 12 7 3252.8 . 44! 3 754^0 332.3 2773.3 896.6 61 .5 1 .9 359.4 703.1 68.7 - 17 REPORT PERIOD : 01/85 - 12/85 T A B L E III D I R E C T I N V E S T M E N T D I S T R I B U T I O N BY I N D U S T R Y S U B S E C T O R OF U.S. A F F I L I A T E - C O M P L E T E D T R A N S A C T I O N S - 1 9 85 ---------------------------------------------------- C L A S S = N O T RE A L PROPERTY NUMBER 35 36 37 38 39 MACHINERY, EXCEPT ELECTRICAL ELECTRIC AND ELECTRONIC EQUIPMENT TRANSPORTATION EQUIPMENT INSTRUMENTS AND RELATED PRODUCTS MISCELLANEOUS MANUFACTURNG INDUSTRIES SECTOR REAL PROPERTY NUMBER CASES/ VALUE KNOWN VALUE ($ M I L L I O N ) 48 48 16 21 1 562.4 1085.4 703.8 17 0 . 8 10.0 152 11780.3 24 9 9 21 7 SECTOR=E TRANSPORTATION, SIC NUMBER RAILROAD TRANSPORTATION TRUCKING AND WAREHOUSING WATER TRANSPORTATION T R A N S P O R T A T I O N BY A I R T R A N S P O R T A T I O N SERVICES. COMMUNICATION E L E C T R I C , GAS, A N D S A N I T A R Y S E R V I C E S SECTOR RE AL PROPERTY SIC NUMBER SECTOR NUMBER CASES/ VALUE KNOWN VALUE ($ M I L L I O N ) 3 5 29 7 1 570.6 0 3 4! 2 4 73.2 0 0 0 2 1 6 648.0 SECTOR=F WHOLESALE TRADE NUMBER CASES/ VALUE V A L U E K N O W N ($ M I L L I O N ) 78 26 19 104 C L A S S = N O T R E AL PROPERTY NUMBER BUILDING MATERIALS & GARDEN SUPPLIES GENERAL ME RCHANDISE STORES FOOD STORES AUTOMOTIVE DEALERS & SERVICE STATIONS APPAREL AND ACCESSORY STORES FURNITURE AND HOME FURNISHINGS STORES EATING AND DRINKING PLACES M I S C E L LA NE OU S RETAIL UTIL NUMBER OF CASES NUMBER OF C A S E S 50 W H O L E S A L E T R A D E - D U R A B L E G O O D S 51 W H O L E S A L E T R A D E - N O N D U R A B L E G O O D S ------------------------ COMMUNICATIONS, 53 CLASS=NOT 52 53 54 55 56 57 58 59 NUMBER OF C A S E S 356 CLASS=NOT 40 42 44 45 47 48 49 S E C T O R = D M A N U F A C T U R I N G ------------------------ 86.1 0 19 86.1 SECTOR=G RETAIL TRADE NUMBER OF C A S E S NUMBER CASES/ VALUE KNOWN VALUE ($ M I L L I O N ) 2 4 6 3 15 6 18 14 1 0 3 1 3 0 6 5 1 0 .0 . 59.6 150.0 40.3 # 27 .1 472.4 - 18 REPORT PERIOD : 01/85 - 12/85 T A B L E III D I R E C T I N V E S T M E N T D I S T R I B U T I O N B Y I N D U S T R Y S U B S E C T O R OF U.S. A F F I L I A T E - C O M P L E T E D T R A N S A C T I O N S - 1 9 8 5 ------------------------- C L A S S = N O T R E AL PROPERTY S E C T Q R = G R E T A I L T R A D E ------ SIC NUMBER NUMBER OF C A S E S NUMBER CASES/ VALUE KNONN VALUE ($ M I L L I O N ) SECTOR 68 19 759.4 ---------- C L A S S = N O T RE A L PROPERTY SECTOR=H FINANCE, SIC NUMBER 60 61 62 63 64 65 67 NUMBER 70 72 73 75 76 78 79 80 82 86 89 VALUE ($ M I L L I O N ) 12 5 10 9 1 2 4 2 1 1 3 0 1 0 20.9 6.0 4. 5 891 .3 43 8 932.7 SECTOR=I 96 A D M I N I S T R A T I O N CLASS S E R V I C E S -------------------NUMBER CASES/ VALUE KNONN VALUE ($ M I L L I O N ) 27 3 57 1 1 1 2 3 1 1 5 18 0 17 1 0 1 1 2 0 0 1 1072.9 102 41 1274.5 SECTOR SIC NUMBER 1 0 .0 NUMBER CASES HOTELS AND OTHER LODGING PLACES PERSONAL SERVICES BUSINESS SERVICES A U T O RE P A I R , S E R V I C E S , A N D G A R A G E S MISCELLANEOUS REPAIR SERVICES MOTION PICTURES AMUSEMENT & RECREATION SERVICES HEALTH SERVICES EDUCATIONAL SERVICES MEMBERSHIP ORGANIZATIONS MISCELLANEOUS SERVICES -------------------------------- C L A S S = N O T RE A L E S T A T E ---------- NUMBER CASES/ VALUE KNONN SECTOR PROPERTY A N D RE AL NUMBER OF CA SES BANKING CREDIT AGENCIES OTHER THAN BANKS SECURITY,COMMODITY BROKERS & SERVICES INSURANCE CARRIERS I N SU RA NC E AGENTS, BROKERS & SERV IC E RE A L E S T A T E HOLDING AND OTHER INVESTMENT OFFICES --------------------------- C L A S S = N 0 T RE AL INSURANCE, PROPERTY SECT0R=96 NUMBER OF C A S E S OF E C O N O M I C P R O G R A M S 32! 5 13 .0 52 . 0 # . 2.8 --------------------------------NUMBER CASES/ VALUE KNONN 2 822 . 97 .7 3.6 289 VALUE ($ M I L L I O N ) 0 - 19 REPORT PERIOD TABLE III D I R E C T I N V E S T M E N T D I S T R I B U T I O N BY I N D U S T R Y S U B S E C T O R OF U.S. A F F I L I A T E - C O M P L E T E D T R A N S A C T I O N S - 1 9 8 5 CLASS=REAL NUMBER X RE A L PROPERTY PROPERTY SECTQR=L RE AL P R O P E R T Y NUMBER OF C A S E S NUMBER CASES/ VALUE KNOWN 90 61 2507. 91 2 350 2 0 89 4. VALUE ($ M I L L I O N ) Nl II so 01/85 - 12/85 - 20 REPORT PERIOD : 01/85 - 12/85 TABLE IV DIRECT INVESTMENT DISTRIBUTION BY INDUSTRY GROUP OF U.S. AFFILIATE AND COUNTRY OF FOREIGN PARENT COMPLETED TRANSACTIONS — 1985 TOTAL AGRICULTURE, CANADA FRANCE GERMANY JAPAN NETHERLANDS SWITZERLAND UNITED KINGDOM ALL OTHER FORESTRY, AND FISHING AGRICULTURAL PRODUCTION - CROPS TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 1 0 0 AGRICULTURAL SERVICES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) TOTAL NUMBER OF CASES NUMBER CASES -- VALUE KNOWN VALUE ($ MILLIONS) 0 0 1 1 0 3.0 4 1 1 1 3.0 3.0 0 1 0 MINING METAL MINING TOTAL NUMBER OF CASES NUMBER CASES — VALUE VALUE ($ MILLIONS) KNOWN BITUMINOUS COAL AND LIGNITE MINING TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) OIL AND GAS EXTRACTION TOTAL NUMBER OF CASES NUMBER CASES — VALUE VALUE ($ MILLIONS) KNOWN 10 7 124.4 2 1 42.0 65 32 2731.0 NONMETALLIC MINERALS, EXCEPT FUELS TOTAL NUMBER OF CASES 4 NUMBER CASES — VALUE KNOWN 0 VALUE ($ MILLIONS) 0 TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 81 40 2897.4 5 3 78.0 0 1 1 1 0 4.0 0 1 0 0 0 0 0 0 0 0 3 1 8.5 2 1 11.0 0 0 0 12 6 326.9 1 0 0 19 9 404.9 4 1 2.2 0 0 0 5 2 6.2 0 0 0 1 0 4 1 8.5 1 0 1.1 0 0 0 0 0 0 0 7 3 1132.1 0 3 2 12.1 0 0 0 7 3 1132.1 2 1 7.4 33.9 0 0 1 1 42.0 0 0 0 19 0 204.7 16 9 1043.6 2 0 0 0 24 17 10 1 077 .5 2 1 2.0 0 0 1 1 0 0 0 0 2 1 2.0 1 0 \Z 254.1 - 21 REPORT PERIOD : 01/85 - 12/85 TABLE IV DIRECT INVESTMENT DISTRIBUTION BY INDUSTRY GROUP OF U.S. AFFILIATE AND COUNTRY OF FOREIGN PARENT COMPLETED TRANSACTIONS — 1985 TOTAL CANADA FRANCE GERMANY JAPAN NETHERLANDS SWITZERLAND UNITED KINGDOM ALL OTHER CONSTRUCTION GENERAL BUILDING CONTRACTORS TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 7 2 1 1 5.8 5.8 9 2 1 HEAVY CONSTRUCTION CONTRACTORS TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE C$ MILLIONS) 1 5.8 5.8 MANUFACTURING FOOD AND KINDRED PRODUCTS TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 25 8 3252.8 3 3100 147 TOBACCO MANUFACTURES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) TEXTILE MILL PRODUCTS TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) APPAREL AND OTHER TEXTILE PRODUCTS TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) FURNITURE AND FIXTURES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 4 1 44.3 3 1 44.3 2 5.3 - 22 REPORT PERIOD : 01/85 - 12/85 TABLE IV DIRECT INVESTMENT DISTRIBUTION BY INDUSTRY GROUP OF U.S. AFFILIATE AND COUNTRY OF FOREIGN PARENT COMPLETED TRANSACTIONS — 1985 TOTAL PAPER AND ALLIED PRODUCTS TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 13 7 754.0 PRINTING AND PUBLISHING TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 29 7 332.3 CHEMICALS AND ALLIED PRODUCTS TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 59 25 2773.3 PETROLEUM AND COAL PRODUCTS TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) RUBBER AND MISC. PLASTICS PRODUCTS TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) LEATHER AND LEATHER PRODUCTS TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) STONE, CLAY, AND GLASS PRODUCTS TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) PRIMARY METAL INDUSTRIES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) FABRICATED METAL PRODUCTS TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 8 4 CANADA FRANCE 13 66.0 10 4 1234.0 61 .5 3.0 6.5 1 8 3 158.7 112.5 5 2 130.0 4 3 23.8 5 1 6 20 11 6.0 1067.4 3 219.0 2 2 426.6 0 0 3 231 .5 3 3 24.0 11 2 1 28.0 2 1 7.2 1 1 112.5 4 1 18.7 1 1 2.0 1 1 17.2 1 3 0 0 0 0 0 1 1 1 .9 1 1 .9 7 68.7 3 3 581 .0 420.0 1 1 12 ALL OTHER 1 1 703.1 UNITED KINGDOM 2 1 1 12 4 3 15.4 2 6 23 SWITZERLAND 1 1 1 15 359.4 NETHERLANDS 14.3 50.0 10 JAPAN 1 1 896.6 21 GERMANY 2 1 6. 0 4 2 33.1 4 1 63.5 13 7 87.7 5 2 29.3 2 1 4.9 3 1 108.7 5 3 28.4 2 2 497.0 3 1 97.7 2 2 1 1 2.5 14.8 - 23 REPORT PERIOD s 01/85 - 12/85 TABLE IV DIRECT INVESTMENT DISTRIBUTION BY INDUSTRY GROUP OF U.S. AFFILIATE AND COUNTRY OF FOREIGN PARENT COMPLETED TRANSACTIONS — 1985 MACHINERY, EXCEPT ELECTRICAL TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) ELECTRIC AND ELECTRONIC EQUIPMENT TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) TOTAL CANADA FRANCE GERMANY JAPAN NETHER LANDS SWITZER LAND UNITED KINGDOM ALL OTHER 48 21 562.4 2 0 1 1 71 .0 7 4 135.1 16 9 260.9 2 0 1 1 3.0 5 1 3.2 14 5 89.2 0 0 0 0 9 5 135.0 5 1 12.0 0 0 2 1 9.0 1 1 2.0 2 1 2.3 1 0 4 2 33.2 5 3 120.5 6 3 14.5 0 0 0 0 0 0 0 0 0 48 24 1085.4 2 1 523.0 5 1 4.1 5 1 27.7 22 15 383.6 TRANSPORTATION EQUIPMENT TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 16 9 703.8 1 0 1 0 1 0 8 6 690.5 INSTRUMENTS AND RELATED PRODUCTS TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 21 9 170.8 3 0 2 1 2.6 0 0 3 1 10.0 MISCELLANEOUS MANUFACTURNG INDUSTRIES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 7 1 10.0 0 0 0 0 0 1 0 0 0 0 0 0 3 0 0 0 0 0 0 0 0 0 0 0 0 0 356 152 11780.3 35 7 685.1 19 6 198.0 35 10 1402.8 86 50 1551.4 19 2 426.0 26 12 3557.6 66 39 3306.0 70 26 653.4 RAILROAD TRANSPORTATION TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 3 1 570.6 1 1 570.6 0 0 0 0 1 0 0 0 0 0 1 0 0 0 TRUCKING AND WAREHOUSING TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 5 0 0 0 TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) TRANSPORTATION, COMMUNICATIONS, UTIL. 0 0 0 0 0 0 0 _ 0 0 0 0 0 4 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 U 0 - 24 REPORT PERIOD : 01/85 - 12/85 TABLE IV DIRECT INVESTMENT DISTRIBUTION BY INDUSTRY GROUP OF U.S. AFFILIATE AND COUNTRY OF FOREIGN PARENT COMPLETED TRANSACTIONS — 1985 TOTAL WATER TRANSPORTATION TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) CANADA FRANCE 29 3 GERMANY JAPAN NETHERLANDS SWITZERLAND UNITED KINGDOM 2 1 4.2 ALL OTHER 20 2 3.2 1 .0 TRANSPORTATION BY AIR TOTAL NUMBER OF CASES NUMBER CASES ~ VALUE KNOWN VALUE ($ MILLIONS) TRANSPORTATION SERVICES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE MILLIONS) COMMUNICATION TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) ELECTRIC, GAS, AND SANITARY SERVICES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 1 1 6 4 73.2 53 8 648.0 2 1 4.0 1 1 13.0 1 1 45.0 1 .0 16 1 4.0 5 1 13.0 24 3 48.2 9 3 4.3 33 7 35.5 9 3 3.2 23 5 41 .9 11 . 2 1 1 570.6 2 1 11 . 2 4 1 WHOLESALE TRADE WHOLESALE TRADE - DURABLE GOODS TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE C$ MILLIONS) WHOLESALE TRADE - NONDURABLE GOODS TOTAL NUMBER OF CASES NUMBER CASES -- VALUE KNOWN VALUE ($ MILLIONS) 78 19 86.1 26 0 0 - 25 REPORT PERIOD * 01/85 - 12/85 TABLE IV DIRECT INVESTMENT DISTRIBUTION BY INDUSTRY GROUP OF U.S. AFFILIATE AND COUNTRY OF FOREIGN PARENT COMPLETED TRANSACTIONS — 1985 TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) TOTAL CANADA 104 2 1 19 86. 1 FRANCE 1 .2 GERMANY JAPAN NETHERLANDS 9 3 4.3 41 7 35.5 1 0 0 SWITZERLAND UNITED KINGDOM ALL OTHER 15 3 3.2 29 5 41 .9 RETAIL TRADE BUILDING MATERIALS & GARDEN SUPPLIES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 2 1 1 1 10.0 10.0 GENERAL MERCHANDISE STORES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) FOOD STORES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) AUTOMOTIVE DEALERS & SERVICE STATIONS TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) APPAREL AND ACCESSORY STORES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 6 3 59.6 1 1 1 1 36.0 22.6 3 1 150.0 15 3 40.3 1 1 25.3 18 2 6 27.1 1 .0 2 1 150.0 1 1 5.0 FURNITURE AND HOME FURNISHINGS STORES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) EATING AND DRINKING PLACES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 2 1 1 1 .3 2 2 5.6 4 3 20.2 6 1 10.0 - 26 REPORT PERIOD : 01/85 - 12/85 TABLE IV DIRECT INVESTMENT DISTRIBUTION BY INDUSTRY GROUP OF U.S. AFFILIATE AND COUNTRY OF FOREIGN PARENT COMPLETED TRANSACTIONS — 1985 TOTAL CANADA FRANCE GERMANY JAPAN NETHERLANDS SWITZERLAND UNITED KINGDOM ALL OTHER MISCELLANEOUS RETAIL TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 14 5 472.4 0 0 3 0 0 0 3 1 10.0 0 0 0 0 5 2 451 .0 2 11 .4 TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 68 19 759.4 14 3 487 .0 17 5 32.4 0 5 2 26.6 0 12 3 28.2 0 0 7 0 10 4 30.2 0 2 1 150.0 0 1 1 5.0 3 FINANCE, INSURANCE, AND REAL ESTATE BANKING TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) CREDIT AGENCIES OTHER THAN BANKS TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) SECURITY,COMMODITY BROKERS & SERVICES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) INSURANCE CARRIERS TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 12 7 2 20.9 2 20.9 5 1 1 1 6.0 6.0 10 4 1 4.5 1 4.5 9 3 891 .3 2 1 105.0 1 1 6.3 4 1 780.0 INSURANCE AGENTS, BROKERS & SERVICE TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) REAL ESTATE TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 2 1 10.0 1 1 10.0 - 27 REPORT PERIOD : 01/85 - 12/85 TABLE IV DIRECT INVESTMENT DISTRIBUTION BY INDUSTRY GROUP OF U.S. AFFILIATE AND COUNTRY OF FOREIGN PARENT COMPLETED TRANSACTIONS — 1985 TOTAL CANADA FRANCE GERMANY JAPAN NETHERLANDS SWITZERLAND UNITED KINGDOM ALL OTHER 0 0 2 0 0 0 0 0 1 0 0 0 0 0 1 0 HOLDING AND OTHER INVESTMENT OFFICES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 0 43 8 932.7 0 0 5 0 0 0 4 0 0 0 1 0 0 0 4 0 0 0 0 3 1 105.0 1 1 6.3 13 4 800.5 12 2 20.9 0 0 0 1 1 41.0 3 2 343.0 8 6 245.1 SERVICES HOTELS AND OTHER LODGING PLACES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) PERSONAL SERVICES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) BUSINESS SERVICES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) AUTO REPAIR, SERVICES, AND GARAGES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) MISCELLANEOUS REPAIR SERVICES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) MOTION PICTURES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 27 18 1072.9 0 0 0 3 0 0 0 0 57 17 97.7 1 1 0 0 0 9 6 36.8 0 1 3.6 0 1 0 0 0 1 1 32.5 5 3 52.5 0 0 32.5 0 0 0 0 0 0 0 3 0 0 2 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 6 391.3 0 0 0 0 0 0 0 0 13 1 2.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 7 0 0 1 0 0 0 0 1 18 9 57.9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5 1 1.0 0 0 0 0 0 0 0 1 3.6 0 0 0 0 0 0 0 0 0 0 1 0 0 0 - 28 REPORT PERIOD : 01/85 - 12/85 TABLE IV DIRECT INVESTMENT DISTRIBUTION BY INDUSTRY GROUP OF U.S. AFFILIATE AND COUNTRY OF FOREIGN PARENT COMPLETED TRANSACTIONS — 1985 TOTAL CANADA FRANCE GERMANY JAPAN NETHER LANDS SWITZER LAND UNITED KINGDOM ALL OTHER AMUSEMENT & RECREATION SERVICES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 2 1 13.0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 13.0 0 0 HEALTH SERVICES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 3 2 52.0 0 0 1 0 1 1 2.8 EDUCATIONAL SERVICES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 1 0 1 0 0 0 0 MEMBERSHIP ORGANIZATIONS TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 0 MISCELLANEOUS SERVICES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 5 1 2.8 TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 96 ADMINISTRATION OF ECONOMIC PROGRAMS TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 1 0 102 41 1274.5 0 0 0 0 0 0 0 0 0 0 0 0 0 11 7 69.3 0 0 0 0 0 0 0 0 1 1 49.2 0 0 0 0 0 0 0 0 8 3 52.5 0 0 0 0 0 1 0 4 1 49.2 0 0 0 0 0 0 0 0 0 1 0 2 0 27 7 393.3 0 0 0 0 0 0 0 0 0 0 0 0 0 5 1 1 .0 0 0 0 0 0 0 0 0 0 0 0 1 1 41 .0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 2.8 27 13 417.5 19 8 250.7 0 - 29 REPORT PERIOD : 01/85 - 12/85 TABLE IV DIRECT INVESTMENT DISTRIBUTION BY INDUSTRY GROUP OF U.S. AFFILIATE AND COUNTRY OF FOREIGN PARENT COMPLETED TRANSACTIONS — 1985 TOTAL CANADA FRANCE GERMANY JAPAN NETHERLANDS SWITZERLAND UNITED KINGDOM ALL OTHER 90 61 2507.3 21 4 4 3 174.1 24 18 448.6 7 3 155.5 2 10 4.6 7 287 .8 18 14 548.1 69 216 89 2475.1 44 36 17 3616.5 176 83 5574.9 209 73 2673.1 REAL PROPERTY TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNONN VALUE ($ MILLIONS) 14 1 838.6 50.0 101 61 16 346.1 1 GRAND TOTAL TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNONN VALUE ($ MILLIONS) 912 350 20894.6 41 2596.3 20 1642.9 11 1969.6 Mode of Investment Transaction Foreign direct investment transactions can be classified into various modes relating to the type and characteristics of each investment. For the purposes of the OTIA transaction monitoring program, the modes of investment transactions used are: o o o o o o acquisitions/mergers; equity increases; joint ventures; new plants and plant expansion; real property (purchases of real estate); and all other (including branches, agencies, representative office, stores, outlets, warehouses, and unidentified transactions). Appendix C defines these and other terms used in this report. During 1985, as in the preceding year, acquisitions/mergers and real property transactions were the leading forms of investment activity in terms of the number of transactions. Acquisition and merger transactions accounted for 367 of the investments identified during the year. (See Table V.) They were followed by real property (including hotel construction) with 100 transactions. Together these two modes accounted for 467 transactions, 51 percent of the total transactions, up 10 percent from the 1984 value. - 30 - - 31 REPORT PERIOD : 01/85 - 12/85 TABLE V MODE OF INVESTMENT BY SOURCE COUNTRY COMPLETED TRANSACTIONS — 1985 TOTAL ACQUISITIONS ALL MODES & MERGERS EQUITY JOINT NEW PLANT REAL OTHER INCREASES VENTURES PLANTS EXPANSION ESTATE MODES 33 49 15 588.9 78 36 930.2 34 100 248 31 750.9 TOTAL ALL COUNTRIES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 912 350 20894.6 367 169 12996.8 101 41 2596.3 52 19 583.9 61 16 346.1 24 7 2 20 . 8 14.1 2.0 69 29 3 9 22 2606.5 10 112.4 67 2908.8 CANADA TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 4 4 1129.5 2 21 1 14 838.6 3.4 18 3 40.9 FRANCE TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 7 3 75.5 3 2 2 1 20 3 33.7 GERMANY TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 20 11 2 2 1642.9 1412.4 26.6 216 89 2475.1 38 24 350.9 3 1 44 23 5 908.1 5 1 26.0 2.3 35 23 758.7 7 2 27.6 4 3 174.1 17 1 1 .5 JAPAN TOTAL NUMBER OF CASES NUMBER CASES -- VALUE KNOWN VALUE ($ MILLIONS) 10.0 22 10 534.9 29 21 724.6 82 8 68.4 NETHERLANDS TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 11 1969.6 1 4 700.0 6.0 1 1 7 3 155.5 4 1 200.0 - 32 REPORT PERIOD : 01/85 - 12/85 TABLE V MODE OF INVESTMENT BY SOURCE COUNTRY COMPLETED TRANSACTIONS — 1985 TOTAL ALL MODES ACQUISITIONS 8 MERGERS EQUITY JOINT NEW PLANT REAL OTHER VENTURES PLANTS EXPANSION ESTATE MODES 1 1 3 5 3 4 2. 0 104.9 40.0 45.6 1 .0 6 11 35 12.6 7 556 .8 7 3 29.9 18 14 338.1 INCREASES SWITZERLAND TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 36 17 3616.5 18 9 3423.0 2 2 2 1 UNITED KINGDOM TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 5 176 83 5574.9 101 10 58 4321.4 5 585.7 4.6 7 3 9.8 209 73 2673.1 82 36 1776.3 9 6 138.6 8 2 15 4 2 2 6 84.0 OTHER SOURCE COUNTRIES TOTAL NUMBER OF CASES NUMBER CASES — VALUE KNOWN VALUE ($ MILLIONS) 46.0 22.8 68 8 321 .4 Location of Investment by State Foreign direct investments were made in 45 U.S. states and the District of Columbia during 1985, with six states accounting for 54 percent of the total investment transactions. (See Table VI.) California and New York were the leading states as in 1984, with 147 and 124 transactions, respectively. They were followed by Texas with 70, New Jersey with 50, Georgia with 46, and Illinois with 45. By dollar value, a slightly different picture emerged, although the same six states were again the leaders. Based on the transaction values on which information was available, California was the largest recipient of foreign investment dollars ($6.2 billion). It was followed by Texas ($3.0 billion), Illinois ($1.9 billion), New Jersey ($1.3 billion), New York ($1.0 billion), and Georgia ($0.8) billion). Together, these six states accounted for nearly 68 percent of reported aggregate values. Figure 4 NUMBER OF INVESTMENTS BY STATE 1985 ALL OTHERS 488 53.5% GEORGIA 46 5% NEW JERSEY 50 5.5% CALIFORNIA 143 TEXAS 65 7.1% NEW YORK 120 13.2% 33 - - 34 - iPORT PERIOD * 01/85 - 12/85 TABLE VI - STATE LOCATION OF FOREIGN INVESTMENTS - 1985 STATES NUMBER OF CASES NUMBER CASES/ VALUE KNOWN VALUE ($ MILLION) TOTAL 912 350 20894.6 ALABAMA 9 5 403.7 ALASKA 2 1 1 .1 ARIZONA 9 3 88.0 ARKANSAS 1 0 147 66 6173.6 COLORADO 27 10 388.9 CONNECTICUT 19 7 774.7 DELANARE 3 0 DIST.-COLUMBIA 6 3 55.5 FLORIDA 36 16 235.0 GEORGIA 46 18 795.9 GUAM . • . HAWAII . . • IDAHO . . . CALIFORNIA ILLINOIS . • 45 18 1896.6 INDIANA 7 4 123.6 IONA 4 2 2.0 KANSAS 4 0 . KENTUCKY 10 7 548.0 LOUISIANA 11 7 684.8 • . MAINE . MARYLAND 19 3 68.8 MASSACHUSETTS 24 7 177.3 MICHIGAN 18 6 492.0 MINNESOTA 11 3 9.9 4 2 30.5 MISSISSIPPI - 35 - REPORT PERIOD : 01/85 - 12/85 TABLE VI - STATE LOCATION OF FOREIGN INVESTMENTS - 1985 STATES NUMBER OF CASES NUMBER CASES/ VALUE KNONN VALUE ($ MILLION) MISSOURI 6 2 100.0 MONTANA . . NEBRASKA 1 1 72.5 NEVADA 2 2 63.9 NEW HAMPSHIRE 6 2 106.6 NEW JERSEY 50 20 1309.2 NEW MEXICO 2 1 3.4 124 34 991 .3 18 2 12.6 1 1 6.5 30 15 485.0 4 1 45.3 OREGON 14 4 265.7 PENNSYLVANIA 25 9 486.4 PUERTO RICO • • • RHODE ISLAND 2 2 8.3 SOUTH CAROLINA 4 0 • SOUTH DAKOTA • • • TENNESSEE 11 5 26.2 TEXAS 70 30 2974.7 UNKNOWN 8 3 81 .6 UTAH 8 5 201 .6 VERMONT • * • VIRGIN ISLANDS • • • VIRGINIA 14 4 351 .0 WASHINGTON 17 5 138.8 2 0 11 3 114.0 3 2 6.6 NEW YORK NORTH CAROLINA NORTH DAKOTA OHIO OKLAHOMA WEST VIRGINIA WISCONSIN WYOMING . • Major Sectoral Developments The following section focuses on major investment transaction trends in the more active industrial sectors during 1985. Metal Mining (SIC 10) - Foreign direct investment in U.S. metal mining firms, at a low ebb for the past few years, rebounded slightly in 1985. Concerns over political instability abroad, country debt repayment problems and a weakening U.S. dollar were factors that accounted for increased foreign investment in this sector. In 1985,10 completed transactions were identified; 7 of them had a total value or $124.4 million, a four-fold increase over the 1984 figure. The largest transaction was the acquisition of Copper Range Co. by Echo Bay Mines Ltd. of Edmonton, Canada for $55 million. Echo Bay Mines, operator of Canada's second largest gold mine, will expand its interests through the purchase of Copper Range which has several gold exploration projects in Nevada as well as copper interests in Michigan. The second largest transaction was the addition of a new mill at Newmont Mining Corp.'s Carlin gold mine in northeastern Nevada valued at $33.9 million. Newmont Mining is 26.1 percent owned by Consolidated Gold Fields Ltd. of England, itself 29 percent owned by Minorco, a Bermuda-based firm controlled by Anglo-American Corp. of South Africa Ltd. Canada was the primary source country for investors in the metal mining sector in 1985. Canadian investors accounted for almost half of the transactions (5). In second place were investors from the United Kingdom with 2 transactions. These investments were largely mine expansions (4) or acquisitions (3). Six of the investments were in gold mining projects, while three were in silver and copper mining projects. - 36 - Figure 5 N U M B E R OF I N V E S T M E N T S IN THE METAL M IN IN G I N D U S T R Y , 1980-1985 2 0 -1 ---- ----------- I § 1980 19 81 1982 1983 1984 1985 YEARS 011 and Gas Extraction (SIC 13) - The U.S. oil and gas extraction sector experienced a bleak year In 1985. Weakened by the protracted slump in drilling and falling oil prices, many U.S. oil companies continued to sell off assets, businesses, and equity to maintain financial stability. These factors, combined with lower finding costs and the availability of farmouts, buy-outs, and buy-1ns resulting from the oil industry's widespread restructuring, attracted foreign Investors to the U.S. oil Industry, but not in overwhelming numbers. - 37 - The number of foreign direct investment transactions identified remained at about the same level as 1984 with a 67 percent drop in value. In 1985, 65 transactions had 33 values that totalled $2.7 billion. The largest transaction was Broken Hill Proprietary Co., Ltd.'s (BHP) $745 million acquisition of Monsanto Oil Co., a unit of Monsanto Co. of St. Louis. BHP is an Australian mining and steel company that is 16 percent owned by Bell Group Ltd. that is, in turn, controlled by Australian investor Robert Holmes a Court. In the second largest transaction, valued at $700 million, Shell Oil Co., the nation's seventh-largest oil company, became a wholly-owned subsidiary of the Royal Dutch Shell Group. This transaction completed a $5.7 billion merger that was launched in January 1984. During that year the Royal Dutch Shell Group raised its holdings to 94.6 percent from 69.4 percent. Royal Dutch Shell, based in the Netherlands and Great Britain, has held the majority of Shell Oil's stock since the Houston, Texas company's founding in 1922. This merger has given the Anglo-Dutch group complete control of Shell's large oil and natural gas reserves and the income they generate. The principal source countries for investment in this sector remained the same as they have been since 1982, with a slight change in ranking. Investors from the United Kingdom continued to hold first place with 19 transactions, but for the first time in three years Canadian investors with 12 transactions moved ahead of those from the Netherlands which had only 6. Eight Government-owned or -controlled firms accounted for 20 percent (13) of the transactions. They were: the Government of the United Kingdom through its holdings in Britoil PLC, British Petroleum PLC, and Burmah Oil PLC (8); the Government of Italy through its ownership of ENI (2); the Government of France through holdings in ERAP and Cie. Francaise des Petroles (1); the Government of Kuwait through Kuwait Petroleum Corp. (1); and the Government of West Germany through its holdings in Veba AG ( 1). Two-thirds of the transactions in the oil and gas sector were acquisitions (43). New wells (10) and equity increases in operating entities (7) were the next most numerous types of investments. - 38 - Figure 6 N U M B E R OF I N V E S T M E N T S IN TH E OIL Sc GAS E X T R A C T IO N I N D U S T R Y , 1980-1985 Food and Kindred Products (SIC 20) - Foreign direct Investment in the foods industry changed very little in the total number of transactions for 1984 and 1985. OTIA identified 25 completed transactions for 1985 and 8 values totalling $3.2 billion, while the previous year there were 23 cases recorded with a total known value of $146.9 million for 11 of these. The dollar value of transactions in the food and kindred products industry experienced a twenty-fold increase over 1984, attributable to the largest foreign direct investment transaction in 1985. The Swiss-based multinational food company, Nestle SA of Vevey, acquired the Carnation Company (Los Angeles, California) for $3.0 billion. Carnation, which is known for its evaporated milk products, manufactures and sells dairy products, pet foods, Contadina tomato products and a variety of packaged prepared foods. More than half (60 percent) of the transactions in this sector were acquisitions (15), followed by 7 new subsidiaries, divisions, new office or joint ventures and 3 new plants or expansions. - 39 - Switzerland and the United Kingdom were the principal source countries accounting for 10 of the 25 completed transactions. Other source countries with 3 investments each were Japan, the Netherlands, and Canada. Fifteen states attracted foreign investors, with no specific regional concentration. California lead with 5 transactions, and Illinois and Wisconsin had 3 each. Foreign investments were spread widely across this industry sector, with the roasted coffee manufacturing subsector (SIC 2095) attracting more investments (4) than any other subsector. Nestle SA of Switzerland purchased Hills Brothers Coffee and MJB Company, both of San Francisco, California. Jacobs Suchard, also of Switzerland established a new subsidiary, Jacobs Coffee Inc., in Delavan, Wisconsin. A West German producer of coffee roaster machines, Probat-Werke, opened its first office in Memphis, Tennessee. Figure 7 N U M B E R OF I N V E S T M E N T S TH E FO O D S I N D U S T R Y , 1980-1985 1600 19 0 1 1802 1903 YEARS - 40 - 1904 IN 1905 Paper and Allied Products (SIC 26) - During much of 1985 producers of paper and allied products suffered the effects of a strong dollar. Export markets shrank while imports (particularly coated papers and uncoated free sheet used for copiers and computer printouts) from Brazil, Mexico, and Scandinavia surged. By mid-year net imports had risen to 9.5 percent of sales, up from 5.2 percent in 1984. Foreign direct investment activity in 1985 remained at the 1984 level 13 completed transactions were identified in both years. However, in 1985 7 values totaled $754 million, almost quadruple the total value of the previous year. The acquisition of 51.3 percent of Crown Zellerbach Corp. by Anglo-French businessman James Goldsmith for $570 million accounted for 75 percent of the 1985 total value figure. Moreover, this is the largest single transaction recorded in the paper and allied products sector since the establishment of the International Trade Administration's foreign direct investment monitoring program. The second largest transaction in this sector in 1985 was the acquisition of 80 percent of Publishers Paper Co., a Portland, Oregon-based producer of newsprint, parti cl e-board, and lumber, by Jefferson Smurfit Corp. This Alton, Illinois paper and boxboard firm is 78.5 percent owned by the Smurfit Family through Jefferson Smurfit Group Ltd. of Dublin, Ireland. The transaction was valued at $149.2 million. As the major foreign investor in this industry in 1985, the Jefferson Smurfit Group gave Ireland the pre-eminent position as leading source country with 6 transactions. The United Kingdom held second place with three transactions that had the highest total value - $581 million. More than half of the investments (8) were acquisitions; others were in the new plants, plant expansions, and joint ventures categories. Almost 85 percent of the foreign investments completed last year were concentrated in three subsectors: 2621-paper mills (4), 2641-paper coating and glazing (4), and 2649-converted paper and paperboard products (3). Other interesting developments noted in 1985: o China National Packaging Corp., wholly-owned by the Government of the Peoples Republic of China, won the bidding for bankrupt Morris Paper Board Co. in Patterson, New Jersey for $1.7 million. China National Packaging has formed a New Jersey subsidiary, ChinAm Inc., to reopen the mill. - 41 - o The Potlatch Corp. rejected a cash offer from First City Financial Corp. Ltd., controlled by the Belzberg family of Canada, to buy all Potlatch shares at $45 per share. The San Francisco-based forest products company purchased approximately 1.1 million shares, or 7.1 percent of its common stock for $43 per share, or a total of $46.7 million to end the hostile takeover bid. Profits for the Canadian investors amounted to about $9.7 million. o Scott Paper Co. of Philadelphia purchased the 24.9 percent of its common stock that Brascan Ltd., a Toronto Investment concern controlled by Peter and Edward Bronfman, had acquired. The transaction was valued at $578-$590 million. Figure 8 | | I N U M B E R OF I N V E S T M E N T S IN THE P A P E R I N D U S T R Y * , 1980-1985 20----------------------------------------------------------- 1980 19 81 1982 1983 1984 1985 YEARS •IN C L U D E S A LLIED P R O D U C T S - 42 - Printing and Publishing (SIC 27) - Foreign investors' interest in the U.S. printing and publishing market continued at a strong pace in 1985. The Office of Trade and Investment Analysis identified 29 completed transactions with 7 values totalling $332.3 million, a record level for both transactions and value figures in the 1980-85 period. European and Canadian publishers are venturing into the United States in greater numbers. This surge of interest is a reflection of the size and wealth of the U.S. publishing industry which offers economic opportunity not available elsewhere. In 1985 acquisitions accounted for 86 percent of the transactions in the publishing industry as investors bought several U.S. trade and technical information journals (11) and newspapers (7). The two largest transactions were both in the periodicals and book publishing subsectors. The first was the acquisition of the W.F. Hall Printing Co. by Kreuger-Ringier Inc., an equal joint venture between W.A. Kreuger of Scottsdale, Arizona and Ringier AG of Zurich, Switzerland. W.F. Hall, a unit of Mobil Corp., publishes books and periodicals. Ringier is a subsidiary of Fuer Presseerzeunisse AG, a Zurich-based printer and publisher of books and periodicals. The transaction was valued at $112.5 million. The second largest transaction was the $90 million acquisition of R.R. Bowker Co., a New York publisher of books and periodicals, from Xerox Corp. by Reed Holdings Inc. of Boston. Reed Holdings is a subsidiary of Reed International PLC, a British paper, packaging and publishing company. As in 1984, investors from Canada and the United Kingdom accounted for about two-thirds of the printing and publishing investments. Canada had the largest number of transactions - 13, while the United Kingdom had the highest transaction value figure - $130 million, and the second largest number of transactions - 5. The most prominent investor in 1985 was Canadian publisher Kenneth Thomson, owner of almost 100 daily and weekly newspapers in the United States. Last year he added 9 U.S. properties - 5 periodicals and 4 newspapers - to his holdings. - 43 - Another prominent investor, Australian publisher Rupert Murdoch, active in U.S. publishing and media circles for the last two decades through News Corp., his Australian publishing and media conglomerate, was not included in OTIA's 1985 listing of foreign investors because he became an American citizen in September 1985. However, one transaction that concerns a Murdoch company is listed. It is News America Publishing Inc.'s joint venture with Hachette of France to publish the American edition of El1e magazine. Hachette is owned by Daniel Filipacchi, a French publisher who has one-fourth of the French magazine market. Figure 9 N U M B E R OF I N V E S T M E N T S IN I THE P R I N T IN G Sc P U B L I S H IN G I N D U S T R Y , I 1980-1985 1980 19 81 1982 1983 YEARS - 44 - 1984 1985 Chemicals and Allied Products (SIC 28) - During 1985, the number of foreign direct investments in the chemicals and allied products industry continued its upward climb with five-fold increase in the dollar value known. OTIA identified 59 transactions with values for 25 totalling more than $2.7 billion. Investors acquired specialty chemical companies at premium prices to strengthen existing businesses, and to compete in the global marketplace. There were six transactions with values of more than $100 million each. BASF, West Germany, acquired United Technologies' Inmont Corp. for $1 billion and the Celanese Corp.'s structural composite division for $135 million. Imperial Chemical, of Great Britain, acquired the Beatrice Company's chemical division that specializes in high performance composites used in the aerospace industry for $750 million, and Sandoz Ltd., Switzerland, acquired Martin Marietta's Master Builders, a manufacturer of specialty chemicals used in the construction industry, for $190 million. A Danish company acquired a Virginia fertilizer manufacturer for $113 million and a Finnish company, controlled by the Finnish Government, acquired American Cyanamid's titanium division for an estimated $100 million. Finally, British conglomerate, Hanson Trust initiated a hostile $975 million takeover attempt of the SCM Corporation, a diversified manufacturer of chemical products, previously noted for its production of office equipment. At year-end about 25 percent of the company had been acquired while litigation was continuing as SCM countered to avoid the takeover. Over 54 percent of the investments were acquisition/mergers as investors acquired 32 existing facilities. They also established 13 new ones and expanded 11 plants in 22 states with New Jersey hosting 10 transactions, New York 8, Texas 7 and North Carolina 5. No other state had more than 3 transactions. German, British and Swiss investors played a predominate role as they accounted for 61 percent of the number of transactions and over 98 percent of the value known. Most were concentrated in speciality chemical and pharmaceutical products. Japanese investment in this industry was minimal during 1985, while there was a noticeable increase in their financial support of research and development in U.S. university labs. - 45 - Figure 10 N U M B E R OF I N V E S T M E N T S IN T H E CHEMICAL I N D U S T R Y * , 1980-1985 1980 19 81 1982 1983 1984 1985 YEARS ♦IN C L U D E S A LLIED P R O D U C T S Petroleum Refining and Related Industries (SIC 29) - Taking advantage of the continuing shakeout in the U.S. domestic refining industry, foreign crude oil producers and oil traders acquired oil refineries all over the United States in 1985. Battered by falling crude oil prices, a rising tide of oil product imports, and sluggish consumer demand, U.S. refiners saw profit margins shrink further last year as they continued to sell off unwanted refineries to foreign producers interested in protecting or increasing their market shares of the world's largest gasoline and petroleum products market. In 1985 OTIA identified 8 transactions in the petroleum refining and related products sector. Four of them had a value of $896.6 million, up 53 percent over 1984's total value figure. Investors from Canada, the Netherlands, and the United Kingdom accounted for two-thirds of the transactions (6 equally divided). The largest transaction was Atlantic Petroleum Corp.'s acquisition of Atlantic Richfield Co.'s assets in Pennsylvania and New York, including a 125,000 barrel-a-day Philadelphia refinery, a network of 576 gasoline stations, 27 terminals, and a pipeline system, for $420 million. Atlantic Petroleum is owned by John Deuss, a Dutch oil trader and - 46 - principal owner of Transworld Oil Ltd., a Bermuda-based oil trading company, and of TW Oil Houston, an oil trading company with headquarters in Texas. As in 1984, Standard Oil Co. of Cleveland, Ohio had the second largest transaction in the refining industry. Standard Oil acquired Gulf Corp.'s Alliance, Louisiana refinery and all of Gulf's wholesale and retail petroleum marketing assets in the southeastern United States in a transaction valued at $380 million. Gulf Corp. is a wholly-owned subsidiary of Chevron Corp. Standard Oil is 55 percent held by the British Petroleum Co. PLC, itself controlled by the Government of the United Kingdom. Seventy-five percent of the transactions in this sector were acquisitions. The petroleum refining subsector accounted for half of the transactions and the asphalt, felts and coatings subsector accounted for another 38 percent. Figure 11 N U M B E R OF I N V E S T M E N T S IN THE P E T R O L E U M R E F I N IN G I N D U S T R Y * , 1980-1985 £ ■ 1980 1 1 10 81 1982 1983 1984 1985 YEARS •AN D RELATED INDUSTRIES - 47 - Primary Metal Industries (SIC 33) - Increasing numbers of producers, worldwide overcapacity, slowdown in consumption growth rates, and falling prices are factors that have caused producers in the U.S. primary metals sector to restructure in an effort to become more competitive and survive. In 1985 foreign participation in primary metals increased almost 35 percent over the previous year as more U.S. firms sought an infusion of capital and technology from foreign investors. Twenty-three completed transactions were identified, 12 of which had a value of $703.1 million. However, the 1985 value figure was almost 45 percent lower than 1984's record $1.3 billion. The steel industry accounted for more than half of the foreign investments (13) while the aluminum and copper industries had 3 transactions each. Three countries, in the same ranking order as in 1984, were the source of just over four-fifths of the investments. Japanese investors in first place with 13 transactions had a 60 percent increase over the previous year. Canadian investors with 4 transactions had one more than in 1974, and investors from the United Kingdom with 2 transactions remained at the 1984 level. The primary forms of investment were acquisitions (7), joint ventures (6) and new plants (3). Japan was the source country for all of the joint venture investments, four of which were in the steel industry, continuing the trend seen last year. The two largest investments in the primary metals sector were made by Australian companies. The first was Comalco Ltd.'s acquisition of all of the stock of Martin Marietta Aluminum Inc. for $400 million in cash and notes. Comalco renamed the company Commonwealth Aluminum Corp. Comalco, Australia's largest aluminum producer, is 52 percent owned by the London-based mining firm Rio Tinto-Zinc Corp. PLC. The second largest investment was MIM Holdings Ltd.'s equity increase to 32.4 percent from 19.1 percent in Asarco Inc., a major mining and smelting concern with headquarters in New York City. This transaction by MIM Holdings, a major Australian mining company, had a value of $97.7 million. - 48 - F igure 12 N U M B E R OF I N V E S T M E N T S IN THE P R I M A R Y M ETAL I N D U S T R Y , 1980-1985 30-1---------------------------------------------------------------------------- ----------------------------------------- 24 ■* 1980 19 81 1982 1983 1984 1985 YEARS Machinery, except Electrical - SIC 35 - Experiencing a lack of sales in a depressed market, foreign direct investment in the machinery industry totalled $562.4 million, a decrease of $330 million from the previous year. However, they increased the total number of completed transactions in the sector from 38 in 1984 to 48. Japanese investors dominated the machinery industry with 16 transactions valued at $260.9 million. The most active investors continued to be the traditional source countries (West Germany, the United Kingdom, and Japan) accounting for 28 (58 percent) transactions. The $107 million acquisition of Wisconsin-based Allis Chalmers Agricultural Equipment Company by Kloeckner-Humboldt Deutz AG, a major West German industrial company, was the largest transaction of the year. The second largest occurred in the ball and roller bearings subsector. Minebea Company Ltd. acquired New Hampshire Ball Bearings Inc. (Peterborough, New Hampshire), a manufacturer of precision ball bearings for military and civilian use for $100.3 million. Minebea, a leading producer of ball bearings and of diversified electronic and computer devices, is owned by the Takahashi Family of Japan. Also in the roller - 49 - bearings subsector, NTN Toyo Bearings Company Ltd. (Osaka, Japan) and Federal-Mogul Corp. (Hamilton, Alabama) formed a $54 million joint venture, NTN Bower Corp. The electronic computing equipment subsector attracted 15 cases and a total identified value of $223 million. In its effort to increase its worldwide penetration in semiconductors and to establish a beachhead in the United States, Thomson SA, the nationalized electronics group of Paris, France acquired semiconductor manufacturer, Mostek Corp. for $71 mi 11 ion. Japanese investors acquired 3 companies - Apple Computers' Plant and Forward Technology in California and Plasmon Data Systems in New Jersey. Japanese investors also established a computer printer plant, by Fujitsu America, and a disk plant, by Epson Portland, both in Oregon. Horison Research Inc. a subsidiary of Mitsubishi Electric, was established in Massachusetts to conduct research and development in the computer field. Figure 13 N U M B E R OF I N V E S T M E N T S IN THE M A C H I N E R Y I N D U S T R Y * , 1980-1985 I960 19 81 1982 1983 1984 1985 YEARS .E X C E P T E LEC TR IC A L - 50 - Electric and Electronic Equipment (SIC 36) - In 1985, the electrical and electronic industry experienced a 30 percent decline in the number of completed transactions. The slowdown can be attributed to a worldwide decline in demand for electronic products. There were 48 completed transactions in 1985 with values for 24 totalling $1.1 billion compared to 69 in 1984 with a total value of $473.2 million. The traditional foreign investor countries were the source of 90 percent of the investments in this industry - Japan accounted for 22 transactions, United Kingdom 9, France and West Germany 5 each, and Canada 2. The remaining 5 transactions were made by investors from Turkey, Sweden, and Finland. The most frequent type of investment was by the acquisition or merger mode (20), followed by new plants or expansions (12), new subsidiaries, outlets or joint ventures (12), and equity increases (4). Twenty-seven of the completed 1985 transactions were dispersed throughout the east coast. California attracted more than any other state with 11 completed transactions. Twelve of the 48 transactions were in the radio and television communications equipment subsector where U.S. consumer electronic companies rely on foreign technology, and concentrate more on marketing, distribution and design. During 1985, the General Electric Company stopped making color TV sets in Portsmouth, Virginia thus leaving only two U.S. color TV manufacturers - RCA and Zenith Electronics Corp. The largest transaction of this subsector was by a Japanese company, Nippon Electric Company Ltd. (Tokyo, Japan). Through its U.S. subsidiary, NEC America Inc., construction of a $67 million telecommunications equipment plant was completed in Hillsboro, Oregon. The largest transaction in the electronics industry was a $523 million acquisition. First City Properties Inc. of California, a Belzberg-owned (Samuel, William & Hyman) real estate development company, increased its equity interest in Scovill Inc. from 6.3 percent to 100 percent. Scovill, headquartered in Waterbury, Connecticut, manufactures a wide variety of consumer and industrial products including Hamilton Beach appliances, Yale locks and securing devices, and Nutone intercoms. The Belzbergs, who in the past invested in real estate and financial services interests in the United States, are now attempting use Scovill to establish an industrial base here. In a joint venture, Sharp Corp. (Osaka, Japan) 49 percent, and RCA Corp. (New York) 51 percent, are building a $107 million integrated circuits plant in Camas, Washington. - 51 - Figure 14 N U M B E R OF I N V E S T M E N T S IN TH E ELECTRICAL I N D U S R Y * , 1980-1985 1980 1981 1982 1983 1984 1985 YEARS • IN C L U D E S E L E C T R O N IC S Transportation Equipment (SIC 37) - Foreign direct investment in the transportation equipment industry dropped about 42 percent in the number of transactions identified in 1985 although there was a 23 percent increase in the known dollar value. Much of the increase in value was the result of Japanese investment as U.S. consumers showed continuing strong demand for their products. By establishing production facilities here, Japanese investors hope to alleviate trade frictions brought on by their imports (Japanese imports accounted for more than 20 percent of the 11,042,658 automobile sales in the United States during 1985), and to lessen protectionist pressures. Another factor influencing Japanese investment here was the decision by two Korean manufacturers to enter the U.S. car sales market through imports, thus capturing some of the market at the lower end of the scale as Japanese manufacturers move to luxury high-ticket models. During 1985, OTIA identified 16 transactions in this sector with values for 9 totalling more than $700 million as compared to 28 transactions in 1984 with 12 values amounting to $571 million. Two Japanese investors, Mazda Motors (25 percent owned by Ford Motor Company) started construction on a $450 million facility in Flat Rock, Michigan and Mitsubishi Motors (15 percent owned by Chrysler Corporation) formed a $680 million 50/50 joint venture with Chrysler to produce automobiles in Illinois. - 52 - Future investments include Toyota Motor Corp.'s planned $800 million production facility in Tennessee, while Isuzu Motors and Fuji Heavy Industries, maker of Subaru cars and trucks, have announced a tentative joint venture to manufacture automobiles here. Should the latter production facilities materialize, seven of Japan's nine automotive manufacturers will have production bases in the United States. There were eight countries investing in this industry. Other than Japan with 8 transactions, none had more than 2 transactions. Most were in the form of parts production with no central geographic concentration. There were 12 new plants, 2 acquisitions and 2 joint ventures. Figure 15 40 N U M B E R OF I N V E S T M E N T S IN THE T R A N S P O R T A T IO N I N D U S T R Y * , 1980-1985 32-- 1900 1981 1982 1983 1984 1985 YE AR S ♦ S P E C IF IC A L L Y E Q U IP M E N T - 53 - :ailroad Transportation (SIC 40) - Federal law restricts foreign direct nvestment in the maritime and aviation industries but not in railroad ransportation. However, there are extensive state laws concerned with :he formation of railroads within various states, almost all of which >ermit foreign ownership through the establishment of subsidiaries or :hrough acquisition or control of existing U.S. railroads. 'levertheless, during the 10 years of ITA's foreign direct investment monitoring program, few transactions have been recorded in the railroad transportation sector. In 1985 only three transactions were recorded, but in an unusual development, one of these was the largest transaction identified in this sector since the inception of the monitoring program. It was also controversial. In a spirited takeover bidding competition, two Canadian-owned railroad firms and a U.S. railroad company vied for almost one year to acquire the Milwaukee Road Railroad. The three railroads were the Soo Line Railroad Co. of Minneapolis, majority-owned by Canadian Pacific Ltd.; Grand Trunk Corp. of Detroit, owned by the Canadian-Government-control led Canadian National Railway System; and the Chicago and North Western Transportation Co., a Chicago-based railroad company. Known as the Milwaukee Road, the Chicago, Milwaukee, St. Paul & Pacific Railroad, was 95 percent owned by Chicago Milwaukee Corp., itself 16.3 percent held by Cie. de Banque et d'Investissments of Switzerland and Electra Trust PLC of the United Kingdom. One of the country's largest railroads, Milwaukee Road had been trimmed down to a 3,300-mile Midwestern line after filing for bankruptcy in 1977. The Soo Line Railroad Co. finally acquired the Milwaukee Road in 1985 for $570.6 million after an extended bidding battle. Soo Line's winning bid, $210 million lower than the final offer from Chicago and North Western Transportation, was accepted by a Federal judge who ruled that public interest factors outweighed the financial superiority of the higher bid. The merger of the Milwaukee Road and the Soo Line created a company that now operates 7,600 miles of line in a dozen states, making it one of the major rail carriers in the upper Midwest. The merger was the second acquisition in five years for the Soo Line. In June 1981, the railroad acquired the Minneapolis, Northfield and Southern Railway, a small Minnesota line. Soo Line is 55.7 percent owned by Canadian Pacific Ltd. of Montreal, itself 11.7 percent held by Power Corp. of Canada Ltd., a Montreal-based utilities and railroad service holding company. - 54 - Figure 16 N U M B E R OF IN V E S T M E N T S IN THE RAILROAD T R A N S P O R T A T IO N I N D U S T R Y , 1980-1985 1980 1981 1982 1983 1984 1985 YEARS Retail Trade (SIC's 52-59) - Foreign direct investment in the retail industry is changing the American retail market as many European investors are continuing their 1984 investment strategy and expanding into this vast consumer market. While some stress their identity, others quietly move into the U.S. marketplace through acquisition of major chains, thus retaining the U.S. identity. In previous years, many foreign manufacturers were content to manufacture at their home-base and allow U.S. retailers to handle the U.S. consumers. Now, many are retailing directly to the consumer. Investors who duplicate their home operations seem to have more success than those who acquire existing businesses. For example, Conrans of Great Britain and IKEA of Sweden, both sell their own lines of household furnishings in their own style with great success. On the other hand, The French group, Agache-Wi1 lot acquired Korvette Stores in 1979 and closed it after three years of disappointing results. Likewise, the Howard Johnson's restaurant and hotel chain was acquired in 1980 by the Imperial Group of London and sold to the Marriott Corporation last year. There have been others with equally disappointing results. - 55 - While foreign investment in this sector declined about 13 percent during 1985, there were 68 transactions identified with values for 19 totalling more than $750 million. Two transactions accounted for about 70 percent of the value. The British conglomerate, Grand Metropolitan PLC, acquired Pearl Health Services, of Texas, the nation's largest retailer of eye glasses and contact lens for $368 million, and Atlantic Richfield Company sold more than 400 service stations in the northeast corridor to the Royal Dutch Shell Group of the Netherlands and Great Britain for $150 mi 11 ion. The greatest number of transactions (17) was in the subsector listed as eating and drinking places, and the apparel and specialty stores subsector had 15. While investments were identified from 16 countries, the most came from the United Kingdom 13, France 12, Japan 9 and Germany 7. Twenty states were the recipients of these investments, led by New York, the center of the U.S. apparel industry, with 17 transactions, and California, 10. Figure 17 N U M B E R OF I N V E S T M E N T S IN T H E RETAIL TRADE I N D U S T R Y , 1980-1985 1980 19 81 1982 1983 YE A R S - 56 - 1984 1985 Banking (SIC 60) - During 1985, 12 completed banking transactions were identified, two of which had reported values totalling $20.9 million. While the number of transactions registered a slight decline from 14 in 1984, the associated values declined significantly from $826.7 million in 1984. This value decline was due to the lack of large bank acquisitions. Seventy-five percent (9 cases) of the banking investments were made in New York (5) and California (4). Massachusetts, Illinois, and Colorado each received one banking investment. Foreign banks' predominant choice as "home state" (a choice required by the International Banking Act of 1978) remained New York, with California close behind. During 1985, investors from the United Kingdom (3), Hong Kong (2), and Finland (2) accounted for over one-half of the transactions. Investors from Canada, Indonesia, Venezuela, and the Netherlands Antilles each accounted for one transaction. In the previous year, investors from Canada, Japan, France, and Belgium were significant investors. During 1985, 6 of the investments were new branches, and one new banking subsidiary was established. There were also 4 acquisitions of existing U.S. banks and one equity increase in a previously acquired bank. There were several reasons for the continued low level of foreign banking activity in the United States. One important reason was the relatively high value of the U.S. dollar. Another was the depressed nature of the U.S. banking industry, affected by reduced activity and deflation in the oil, mining, and agricultural sectors. Further, internal conditions in the U.S. banking industry contributed to the continued slowdown in foreign investment. Other banks and bank-like institutions in the U.S. market generated increased competitive pressure. U.S. banking deregulation caused aggressive pricing policies. Together these factors made it difficult to maintain both quality loan portfolios as well as traditional profit margins. In the largest transaction last year, Midland Bank (United Kingdom) purchased the additional 40 percent it did not already own of Crocker National Bank (San Francisco) for approximately $200 million. - 57 - Figure 18 N U M B E R OF IN V E S T M E N T S IN T H E FINANCIAL S E C T O R , 1980-1985 g§ ae+ 03 55 1980 1981 1982 1983 I 1984 I 1985 YE A R S Real Property - During 1985, 90 commercial real estate investments involving foreign investors in the purchase and development of real property, plus a further 27 investments 1n the hotel industry (SIC 70), were identified. Of the total 117 investments, 79 had known values totalling nearly $3.6 billion, of which 6 were valued at $100 million or more. (Purchases of agricultural land and individual residential real estate units are not included in this report.) From the peak number of transactions in 1981 (464), the number has declined each year, and 1985 was no exception, being 21 lower than 1984 (138). With office vacancy rates in some prime urban districts at 20-30 percent, investors continued to be cautious and very selective. It was expected that Japanese investment would grow during 1985, and it did. With 34 investment transactions, and values known for 10 totalling $820 million, the Japanese were the most active investors in the sector. In 1984, 11 Japanese transactions were identified with 7 values totalling $597 million. The Canadians were the next most active in 1985, with 22 transactions for which 15 values were identified totalling $853 million. Combined, these two groups of investors accounted for 48 percent of the transactions, with the remainder spread widely among other nations. - 58 - Four states attracted 73 investments (62 percent of the total), with California leading with 31, New York attracted 17, Georgia 15, and Florida 10. Figure 19 N U M B E R OF I N V E S T M E N T S IN THE REAL P R O P E R T Y S E C T O R * , 1980-1985 OES * 4 0 - M 1080 1981 1082 III 1083 1084 1085 YEARS ♦ IN C L U D E S H O TE L Sc O T H E R - 59 - LO D G IN G PLA C E S APPENDIX A LISTING OF INVESTMENT TRANSACTIONS by STANDARD INDUSTRIAL CLASSIFICATION (SIC) - 60 - S.I.C. Reference Table Description Agri culture 01 02 07 08 09 Agricultural Production - Crops Agricultural Production - Livestock Agricultural Services Forestry Fishing, Hunting & Trapping Mini nq 10 11 12 13 14 Metal Mining Anthracite Mining Bituminous Coal & Lignite Mining O i 1 & Gas Extraction Non-Metallic Minerals, exc. Fuel Construction 15 16 17 General Building Contractors Heavy Construction Contractors Special Trade Contractors Manufacturi nq 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 Food & Kindred Products Tobacco Manufactures Textile Mi 11 Products Apparel & Other Textile Products Lumber & Wood Products Furniture & Fixture Paper & Allied Products Printing & Publi shing Chemicals & Allied Products Petroleum & Coal Products Rubber & Misc. Plastics Products Leather & Leather Products Stone, Clay & Glass Products Primary Metal Industries Fabricated Metal Products Machinery exc. Electrical Electric & Electronic Equipment Transportation Equipment Instruments & Related Products Misc. Manufactures - 61 - S.I.C. Reference Table Continued SIC 40 41 42 43 44 45 46 47 48 49 Description Railroad Transportation Local & Interurban Passenger Transit Trucking & Warehouse U.S. Postal Service Water Transportation Transportation by Air Pipe Lines, exc. Natural G.as Transportation Services Communication Electric, Gas & Sanitary Services Wholesale Trade 50 51 Wholesale Trade - Durable Goods Wholesale Trade - Nondurable Goods Retail Trade 52 53 54 55 56 57 58 59 Building Materials & Garden Supplies General Merchandise Stores Food Stores Automotive Dealers & Service Stations Apparel & Accesory Stores Furniture & Home Furnishings Stores Eating & Drinking Places Miscellaneous Retail Finance, Insurance & Real Estate 60 61 62 63 64 65 66 67 Banking Credit Agencies Other Than Banks Security, Commodity Brokers Insurance Carriers Insurance Agents, Brokers Real Estate Combined Real Estate/Insurance Holding & Other Investment Offices Services 70 72 73 75 76 78 79 Hotel & Other Lodging Personal Services Business Services Auto Repair Services, etc. Misc. Repair Services Motion Pictures Amusement & Recreation Services - 62 - S.I.C. Reference Table Continued SIC 80 81 82 83 84 86 88 89 Description Health Services Legal Services Educational Services Social Services Museums, Botanical Gardens, etc. Membership Organizations Private Households Miscellaneous Services Public Administration 91-97 Administration Non-Classifiable Establishments 99 Non-Classifiable Establishments - 63 - List of Investment Type AM - Acquisition/Merger EQ - Equity Increase JV - Joint Venture NP - New Plant OT - Other PE - Plant Expansion RE - Real Estate - 64 - N a t io n a lit y A b b rev ia tion s AS AU BA BD BE BR CA CH DA EG El FI FR GE HK IC ID IN IS IT JA JM KS LE LS NA NL NO NZ PK PM SA SI SN SO SP SW SZ TU TW UK UN VE A u s t r a lia A u stria Bahrain Bermuda Belgium B r a z il Canada China Denmark Egypt Ire la n d Finland France Germany, Fed. Rep. Hong Kong Icelan d Indonesia India Isra e l Ita ly Japan Jamaica Korea, Rep. Lebanon L ie c h te n ste in N etherlands A n t i l l e s N etherlands Norway New Zealand Pakistan Panama Saudi A rabia Somalia Singapore South A fr ic a Spain Sweden Sw itzerland Turkey Taiwan u n ited Kingdom Unknown Venezuela - 65 - - 66 1985 FOREIGN INVESTMENTS SIC US FIRM NAME LOCATION TS FOREIGN INVESTOR TY VALUE natnaltV xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx A .B . DICK BLDG ATLANTIC CENTER BELGRAVIA CONDOMINIUM BIGGS PLACE BRICKELL STATION TOWERS BURLINGTON BUSINESS CENTER I BUSINESS PARK CHANTECLAIR COCOA EXCHANGE BLDG COMMERCIAL BLDGS COMMERCIAL BLDGS (4) CONDOMINIUM CONDOMINIUM CONDOMINIUM CREEKSIDE CUMBERLAND MALL DOMIMION PLAZA DUPON CENTER ENVIRON EQUITABLE AIRPORT CENTER G.E. BLDG. GALLERIES OF SYRACUSE GLENRIDGE CENTER GREY-MARK AT BRIDGEWATER GREYSTONE OFFICE COMPLEX INDUSTRIAL BLDGS INDUSTRIAL PARK INDUSTRIAL PARK INTERLOCHEN KAYTEL BLDG. LAHAINA CANNERY SHOP. CTR LAND LAND LAND C10.5 ACRES) LAND (20,000 ACRES) LAND (40 ACRES) LAND (9.8 ACRES) LANDMARK BLDG. MANHATTAN TOWER MOMENTUM PLACE MULTI-USE DEVELOPMENT MULTIUSE PROJECT OCTAVIA CONDOMINIUM OFFICE BLDG OFFICE BLDG OFFICE BLDG OFFICE BLDG OFFICE BLDG OFFICE BLDG OFFICE BLDG OFFICE BLDG OFFICE BLDG OFFICE BLDG. OFFICE BLDG. OFFICE BLDG. OFFICE BLDG. COLUMBUS ATLANTA NEW YORK THORNTON MIAMI BURLINGTON DALLAS ONTARIO NEW YORK ENCINO DALLAS OH GA NY CO FL MA TX CA NY CA TX HI NY HI CA GA CO CA MD CA FL NY GA NJ NV CA CA CA GA MN HI DC HI GA CO FL FL CA NY TX TX GA NY NY AZ TX OH GA CA NY NY NY WA FL MA DC UNIDENTIFIED INVESTOR CADILLAC FAIRVIEW HASEGOWA KOMUTEN CO. LTD. S.M.E.C.I. ET AL JAPAN DEV. AND CONSTR. CO. LTD SUMITOMO LIFE INS. CO. KAJIMA CORP. ET AL LES NOUVEAUX CONTRUCTEURS LADBOOKE GROUP PLC FUJITA CORP. AOKI CONSTRUCTION CO. LTD. SAKAE KOMUTEN CO. LTD. HASEGAWA KOMUTEN CO. LTD. BELMARIN INVESTMENTS NA LES NOUVEAUX CONSTRUCTEURS PENSION FUNDS GROUP TRIZEC CORP. LTD. DAON CORP. AOKI CONSTRUCTION CO. UNITED INDUSTRIAL CORP. LTD. UNIDENTIFIED INVESTORS UNIDENITIED INVESTOR PHILLIP HOLTZMAN AG ET AL GREY COAT CITY OFFICES PLC HUDSON'S BAY CO. ROHAN GROUP MITSUI REAL ESTATE DEV. CO. SHUWA CORP. JOHN LAING PLC UNIDENTIFIED INVESTOR OMORI, MASAO MANUFACTURERS LIFE INS. CO. SHELL ENTERPRISE CO. LTD. ROSTLAND CORP. NISSAN MOTOR CO. LTD. CASACA NV LUNEBERG CO. N.V. MITSUI R.E. DEV. CO. LTD. LADBROOKE GROUP PLC CADILLAC FAIRVIEW CORP. LTD. AOKI CORP. RUTHER, RUDOLPH W. KING FOOK SUMITOMO REALTY AND DEV. CO. SHIMIZU CONSTRUCTION CO. LTD. SUMITOMO CONSTRUCTION CO. LTD MACDONALD, JOHN AKZO N.V. ET AL NORO GROUP HERON INTNTL PLC OAK PROPERTIES VENEZUELA, GOV'T C. ITOH & CO. LTD. FAUSTINA CORP. KLUWER NV LADBROOKE GROUP PLC RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE 2. 1 225. 0 . 50. 0 21 .0 40. 0 80. 0 . GE CA JA FR JA JA JA FR UK JA JA JA JA NA FR UK CA CA JA SN SZ CA GE UK CA El JA JA UK CA JA CA JA GA JA NA NA JA UK CA JA GE HK JA JA JA JM NL NL UK UN VE JA NA NL UK NEW YORK ONTARIO ATLANTA DENVER IRVINE OLNEY LOS ANGELES DAYTONA BEACH SYRACUSE SANDY SPRINGS BRIDGEWATER LAS VEGAS SIMI VALLEY VISTA CORONA ATLANTA WASHINGTON HONOLULU ATLANTA DOUGLAS CO DADE CO MIAMI LOS ANGELES NEW YORK DALLAS DALLAS LAWRENCEVILLE NEW YORK NEW YORK PHOENIX DALLAS CIMCINNATI ATLANTA CARSON NEW YORK NEW YORK NEW YORK SEATTLE LAUDERDALE BOSTON WASHINGTON 42. 0 0. 4 30. 0 3. 7 119! 0 19. 5 70! 0 48! 0 26. 0 17. 5 30. 0 11 .0 8. 0 18. 6 100. 0 4. 6 12. 0 7. 5 3. 0 31 .0 1 .5 0. 5 7. 4 50.’0 . 35. 0 25. 0 2. 0 # 5. 5 80. 0 9. 7 4. 0 6. 0 1 .7 46. 0 - 67 1985 FOREIGN INVESTMENTS SIC US FIRM NAME LOCATION TS FOREIGN INVESTOR TY VALUE xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx xxxx 0133 0175 0182 0752 1021 1041 1041 1041 1041 1041 1041 1044 1044 1094 1211 1211 1311 1311 1311 1311 1311 1311 OFFICE BLDGS OFFICE BLDGS OLD HYDE PARK VILLAGE PACKARD BLDG. PALM SEAS ESTATES PARK WEST OFFICE PARK RESIDENTAL DEVELOPMENT RESIDENTAL DEVELOPMENT RESIDENTAL DEVELOPMENT RETAIL CENTER RICHMOND HILL RICOH ELECTRONICS RINCON SQUARE RIVERSIDE CENTER SAN JOSE PLAZA SHANNON TOWER BLDG SHOPPING CENTER (4) SIGNATURE CENTER STANGENWALD BLDG STOUFFER INDIAN WELLS RESORT TEXAS COMMERCIAL BLDG THE PARK AT DEERWOOD TRANS POTOMAC CENTER TWO PERSHING SQUARE TYSONS CORNERS SHOPPING CENTER W£ST END PLAZA 1180 AVE. OF THE AMERICAS 150 E. 52ND ST. 150 E. 85TH ST. 20 WEST 55TH ST. 200 GALLERIA 2001 L ST., N.W. 6500 WILSHIRE BLVD 888 BOULEVARD OF THE ARTS AMFAC INC*S NURSERIES HORTEX CO. SWISS-AMERICAN SPAWN INC. KETUCKY HORSE CENTER INC. COPPER RANGE CO. CANNON MINE CARLIN GOLD MINING CO. GLADIATOR/WAR EAGLE MINE GRANT GOLD MINE MARATHON GOLD CORP. SUNNYSIDE MINE GULF RESOURCES & CHEMICAL CORP. McCRACKEN SILVER MINE LUCKY McMILL MINE INDUSTRIAL FUELS CORP. UNITED FIN. OPERATIONS INCfS COAL ASSETS ADOBE RESOURCES CORP. AMOCO PRODUCTION CO.*S PROPERTIES (9) APACHE RESOURCES LTD. ARABIAN SHIELD DEVELOPMENT CO. ARAPAHO PETROLEUM INC. ARCO'S OIL LEASES (6) SAN FRANCISCO ORANGE CO. TAMPA PHILADELPHIA SALTON CITY DALLAS LOS ANGELES LOS ANGELES CORONA ATLANTA OSSINING NORWALK SAN FRANCISCO RIVERSIDE SAN JOSE EAST POINT SAN ANTONIO ATLANTA HONOLULU INDIAN WELLS HOUSTON JACKSONVILLE ALEXANDRIA KANSAS CITY McLEAN ATLANTA NEW YORK NEW YORK NEW YORK NEW YORK ATLANTA WASHINGTON LOS ANGELES SARASOTA CA CA FL PA CA TX CA CA CA GA NY CT CA CA CA GA TX GA HI CA TX FL VA MO VA GA NY NY NY NY GA DC CA FL OR SC TX KY LA WA NV AZ AK CO CO TX AZ WY MI SEARCH INTNTL TOBISHIMA CORP. AMLEA INC. ARABIAN INVEST. BANKING CO. PALM SEAS DEV. CO. CADILLAC FAIRVIEW CORP. LTD. LES NOUVEAUX CONSTRUCTEURS TODO CONTRUCTION CO. LTD NAKANOGUMI CO. LTD. CAPITAL AND COUNTIES PLC DURLAN BROS. GREY COAT CITY OFFICES PLC MARATHON REALTY CO. LTD. DAON DEVELOPMENT CORP. HUDSON EQUITIES INVESTMENT GROUP MANN, GEORGE S. CADILLAC FAIRVIEW CORP. LTD. ROBERT JONES INVESTMENTS LTD. DAON CORP. ET AL RAHA ONE LTD. BAITA INTNTL PENSION FUND ET AL TRIZEC CORP. LTD. LEHNDORFF TOH, A .C . ET AL GREY COAT CITY OFFICES PLC KOWA REAL ESTATE INVESTMENT EPURIO, NV PRIVATBANKEN PGGM HUDSONS BAY CO. CADILLAC FAIRVIEW CORP. LTD PGGM AGROGEN BIOTECHNOLOGIES LTD. INTL HORTICULTURAL ENTERPRISES LTD. E. HAUSER CHAMPIGNON LABORATORIUM HAGOPIAN, ERIKA ECHO BAY MINES LTD. REALWEST ENERGY OPPENHEIMER, HARRY F. & FAMILY NOR-QUEST RESOURCES INC. MARUBENI CORP. HAMPTON GOLD MINING AREAS PLC ECHO BAY MINES LTD BARCLAY, DAVID & FREDERICK ARIZONA SILVER CORP. FRANCE, GOVT OF COSTAIN GROUP PLC SATURN ENERGY & RESOURCES LTD. OPPENHEIMER, HARRY F. & FAMILY SABA ENERGY LTD. WETTREICH/ DANIEL IBN ABDUL/ KHALED IBN ABDULLAH FAKHRO/ HASSAN IDEMITSU KOSAN CO. LTD RE RE RE RE RE RE RE RE RE RE RE HK JA CA SA CA CA FR JA 8! 2 JA 1 .3 UK El 28.0 UK CA u ! o CA 25.0 CA CA 57 .*0 CA CA 5.0 NZ 65.0 CA 250.0 SA 4.6 SZ 90.0 NL 42.0 CA 146.0 GE 110.0 SN 15.0 UK JA NL 3o!o DA 60.0 NL CA 9 o ! o CA NL CA NZ SZ 3^0 GE 55.0 CA CA 33! 9 SO 3.0 CA 1 .1 JA UK 20.0 CA 7.4 UK CA 4!o FR 42.0 UK CA SO CA 0 .7 UK SA J n 3 •*7r ORAH v 11 .0 JA MADISONVILLE LEXINGTON NEW ORLEANS CRAIG HOUSTON TROY NEW YORK KEMP DALLAS ENGLEWOOD NY CO TX TX CO CA RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE RE AM NP JV AM AM OT OT OT OT AM AM El OT OT AM AM AM AM AM El AM AM 6 o !o 90.0 20.0 NATNALTY - 68 1985 FOREIGN INVESTMENTS SIC US FIRM NAME LOCATION TS FOREIGN INVESTOR TY 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1311 1381 1382 1382 1382 1382 BARRETT RESOURCES CORP. BENGAL OIL 8 GAS CORP. BRITOIL US HOLDINGS INC. BULLWINKLE CHAPPARRAL RESOURCES-SAPPHIRE JV CHENIERE PETROLEUM CORP. CONOCO INC.1S WELL CONOCO INC'S WELL CONOCO-TENNECO PLANT EARTH ENERGY INC. GRALY RESOURCES INC. GULF OF MEXICO LEASE (1) GULF OF MEXICO LEASES (46) GULF OF MEXICO OIL/GAS LEASES GULF OF MEXICO OIL./GAS LEASES (17) GULF OF MEXICO OIL/GAS LEASES (25) GULF OF MEXICO OIL/GAS LEASES (6) GULF OF MEXICO OIL/GAS LEASES (90) HARKEN OIL & GAS INC. HIGH PLAINS OIL CO. HINKLE EXPLORATION LTD*S ASSETS ITR PETROLEUM INC. KMI CONTINENTAL INCfS ASSETS LEED PETROLEUM CORP. LMS AMERICAN HOLDINGS LTV1S RSC ENERGY DIV'S ASSETS MADISON AVENUE INC. MAPCO OIL & GAS CO'S ASSETS MARATHON OIL CO'S PROPERTIES MIDLANDS ENERGY CO'S ASSETS MILNE POINT PROJECT MONSANTO OIL CO'S ASSETS NEO ENERGY INC. NEW WELLS (3) NORSUL OIL & MINING LTD. OIL & GAS LEASES OIL WELL OIL WELL OIL WELLS (14) OIL WELLS (2) PENN PACIFIC CORP POGO PRODUCING CO. PRAIRIE PRODUCING CO. SANVE 1-15 WELL SHELL OIL CO. SOHIO PETROLEUM CO'S WELL SOUTHLAND ROYALTY CO'S OIL INTERESTS TOM BROWN INC'S OIL PROPERTIES VALEX PETROLEUM INC. WESTERN PETROLEUM CORP. WOODS PETROLEUM CORP. KEYDRIL CO. AVALON CORP. EGRET ENERGY CORP. GEOSEARCH SEISMIC SURVEYS INC. KELDON OIL CO. DENVER HOUSTON HOUSTON CO TX TX LA WY TX CA CA NM TX CO AL AL LA AL LA AL AL TX CO TX TX GIESKES, H.L.J.M. ANGLO-SWISS ENERGY SA UNITED KINGDOM, GOVT OF THE ROYAL DUTCH SHELL GROUP SAPPHIRE PETROLEUM PLC OPPENHEIMER, HARRY F. 8 FAMILY BRONFMAN FAMILY BRONFMAN FAMILY BRONFMAN FAMILY KRATOS MINERALS NL COGERE SA ITALY, GOVT OF BRONFMAN FAMILY ITALY, GOVT. OF WEST GERMANY, GOVT OF PETROFINA SA SCHLUMBERGER FAMILY ROYAL DUTCH SHELL GROUP QUASHA, PHYLLIS OPPENHEIMER, HARRY F. & FAMILY UNITED KINGDOM, GOVT OF PHILIP HILL INVESTMENT TRUST PLC ROYAL DUTCH SHELL GROUP UNITED KINGDOM, GOVT OF LMS AMERICAN HOLDINGS CARLESS. CAPEL AND LEONARD PLC CHAUDHARY, ILYAS ROYAL DUTCH SHELL GROUP ROYAL DUTCH SHELL GROUP UNITED KINDGOM, GOVT. OF THE BRONFMAN FAMILY HOLMES A COURT, ROBERT INOCO PLC UNITED KINGDOM, GOVT. OF PANAFRUIT OVERSEAS INC. LABMIN RESOURCES IDEMITSU KOSAN CO. LTD. UNITED KINGDOM, GOVT OF FRANCE, GOVT. OF WESTPOOL INVESTMENT TRUST PLC PALLISER INTERNATIONAL ENERGY INC. SCHLUMBERGER FAMILY BRONFMAN, EDWARD & PETER UNITED KINGDOM, GOVT. OF ROYAL DUTCH SHELL GROUP UNITED KINGDOM, GOVT OF TRAFALGAR HOUSE PLC PAN CANADIAN PETROLEUM LTD. COMETRA OIL CO. SA GAENSEL, HELMUT HARIRI, RAFIK KUWAIT, GOVT OF MOONIE OIL CO., THE SCHWAB, D. AND FLURSCHEUTZ, G. SIMON ENGINEERING PLC RUSHDEN INVESTMENTS LTD. AM El OT OT JV HOUSTON DENVER ABILENE DENVER HOUSTON DENVER MIDLAND CO TX OH TX CA CO HOUSTON DALLAS ALBANY TUSTIN HOUSTON HOUSTON HOUSTON DENVER DENVER OKLAHOMA CITY HOUSTON NEW YORK HOUSTON HOUSTON BISMARK TX TX TX GA MS CA LA TX LA CA TX TX OK TX FL TX UT CO CO OK TX NY TX TX ND OT OT JV AM AM AM AM AM AM AM AM AM El AM AM AM AM AM OT AM AM AM AM AM OT AM AM OT AM AM OT OT OT AM AM AM AM OT El OT AM AM AM AM AM AM El AM AM AM VALUE 2.0 . 200.0 2.6 . . 3.4 4.0 . . 18.4 12.5 . . 2.2 232.1 0.1 42.9 8.0 # . 26.0 , 39.6 . . . 73.5 36.6 745.0 . . . 29.5 # . . 11 .3 194.0 700.0 . 26.5 45.0 8.5 45.3 190.0 0.1 10.0 6.5 NATNALTY NL SZ UK NL UK SO CA CA CA AS SZ IT CA IT GE BE FR NL AS SO UK UK NL UK UK UK CA NL NL UK CA AS UK UK PM CA JA UK FR UK CA FR CA UK NL UK UK CA BE GE SA KU AS GE UK UK - 69 1985 FOREIGN INVESTMENTS SIC US FIRM NAME LOCATION TS FOREIGN INVESTOR TY 1382 1382 1389 1446 1474 1474 1499 1521 1521 1521 1541 1541 1541 1542 1622 1629 2022 2023 2026 2026 2033 2033 2046 2046 2048 2048 2051 2063 2063 2063 2067 2079 2082 2082 2087 2095 2095 2095 2095 2098 2098 2131 2221 2253 2295 2297 2341 2342 2392 2392 2522 2621 2621 2621 2621 2631 PETROTECH INC. WEPCO ENERGY CO. EMH SYSTEMS INC. PENNSYLVANIA GLASS SAND CORP. POTASH CO. OF AMERICA POTASH PRODUCERS INCfS ASSETS HYDROCARBON RESOURCES CO. COHN COMMUNITIES JOHN LAING HOMES INC. SUMICO DEVELOPMENT CO. LTD CARLSON GROUP INC. CITADEL CORP. SHIMIZU AMERICA CORP. K.G. CORP MOSEMAN CONTRUCTION CO. GEO-CON INC. HEIM CHEESE CO'S PLANT CARNATION CO. JOHANNA FARMS INC. MORINAGA NUTRITIONAL FOODS INC. EARLY CALIF. FOODS1 OLIVE UNIT THERESA FRIEDMAN & SONS INC. AKZO CHEMIE AMERICA NATIONAL STARCH & CHEMICALS CORP. BEATRICE CO'S AGRI. PRDTS DIV. STREPTOCOCCUS LAB BREDDO FOOD PRODUCTS CORP. GREAT WESTERN SUGAR COfS PLANTS (6) GREAT WESTERN SUGAR'S BEET SEED DIV. WESTERN SUGAR CO. FORD GUM & MACHINERY CO. INC. DAHLGREN & CO. MASTERS BREWING CO. PMP PREMIUM BEVERAGES INC. HILLS BROS. COFFEE INC. JACOBS COFFEE CO. M.J.B. CO. PROBAT US INC. NISSIN FOODS (USA) CO. INC. STOUFFERS FROZEN FOOD ALFRED & CHRISTIAN PETERSEN LTD UNITED MERCHANTS 8 MNFRS INC. HOPI TRIBAL COMPO INDUSTRIES INC. LUTRAVIL CO. (THE) WUNDIES INC. NCC INDUSTRIES INC. CAROLINA FORMED FABRICS CORP. PERFECT FIT INC. LISTA INTERNATIONAL CORP. APPLETON PAPERS INC. CROWN ZELLERBACH CORP. JEFFERSON SMURFIT CORP. WALLMATES MORRIS PAPER BOARD CO'S PLANT ST. CLAIR CLEVELAND HOUSTON BERKELEY SPRG DENVER MI OH TX WV CO NM UT GA CA TX MA GA OR HI CA PA WI CA NJ CA CA PA WI MO IL IA KS TX CO CO NY MN IL IL CT CA WI CA TN PA UT KY NY AZ MA NC NY NY SC NC TX WI CA OH IL NJ UK TEMPERANCE & GEN'L PROVIDENT INSTIT. STATES EXPLORATION LTD. EMH RIO TINTO-ZINC CORP. RIO TINTO-ZINC CORP. PLC RAYROCK RESOURCES LTD. THYSSEN SCHACTBAU GMBH C.H. BEAZER JOHN LAING PLC SUMITOMO CONSTRUCTION CO. LTD SOC. AUXLIARE D'ENTERPRISE OHBAYASHI CORP. SHIMIZU CONSTRUCTION CO. LTD. KUMAGAI GUMI CO. LTD. HOLLAND GROUP TAISEI CORP. BRESSE BLEU FROMAGERIES NESTLE SA JOHN LABATT LTD. MORINAGA MILK INDUSTRY CO. LTD. UNITED BISCUITS (HOLDINGS) PLC RANK HOVIS MCDOUGALL PLC AKZO NV UNILEVER NV TATE & LYLE PLC BONNIERFORETAGEN AB CENTRALE SUIKERMAATSCHAPPIJ NV TATE 8 LYLE PLC. CARDO AB TATE 8 LYLE PLC HUHTAMAEKI OY FRANCE, GOVT. OF MOLSON COS LTD. FUIJISAWA PHARMACEUTICAL CO. SEAGRAM FAMILY NESTLE SA JACOBS SUCHARD AG NESTLE SA PROBAT-WERKE VON GIMBORN GMBH NISSIN FOOD PRODUCTS CO. LTD. NESTLE SA PETERSEN FAMILY RUSKIN, UZI YOUNG AN HAT CO. GEMINA SPA FREUDENBERG FAMILY BARON ROTHSCHILD SPIESSHOFER, GUNTHER LOW 8 BONAR PLC CHARTERHOUSE GROUP (THE) PLC LISTA AG BAT INDUSTRIES PLC GOLDSMITH, JAMES SMURFIT FAMILY UNITED KINGDOM, GOVT. OF PEOPLES REPUBLIC OF CHINA, GOVT OF El AM OT AM AM AM JV AM OT OT AM OT OT OT AM AM AM AM AM OT AM AM JV NP AM JV AM AM AM OT AM AM OT AM AM AM OT AM OT PE NP PE AM NP AM PE AM AM AM AM NP OT El PE AM AM ATLANTA LAGUNA HILLS DALLAS COCHITUATE DE KALB TIGARD HONOLULU REDDING PITTSBURGH WATERTOWN LOS ANGELES FLEMINGTON LOS ANGELES LOS ANGELES PHILADELPHIA JONESVILLE KANSAS CITY CHICAGO DES MOINES KANSAS CITY DALLAS LONGMONT DENVER AKRON CROOKSTON CHICAGO PEORIA GREENWICH SAN FRANCISCO DELAVAN SAN FRANCISCO MEMPHIS LANCASTER NEW YORK WINSLOW WALTHAM NEW YORK CORTLAND GREENVILLE MONROE APPLETON SAN FRANCISCO CHICAGO PATTERSON VALUE 5 8 3000 0 73 0 10 0 43 0 1 0 21 5 4 3 100 0 44 3 1 570 7 10 1 0 0 8 0 7 NATNALTY UK CA FR UK UK CA GE UK UK JA FR JA JA JA AS JA FR SZ CA JA UK UK NL NL UK SW NL UK SW JA FI FR CA JA CA SZ SZ SZ GE JA SZ DA IS KS IT GE UK GE UK UK SZ UK UK El UK CH - 70 1985 FOREIGN INVESTMENTS SIC US FIRM NAME LOCATION TS FOREIGN INVESTOR TY 2631 2641 2641 2641 2641 2649 2649 2649 2711 2711 2711 2711 2711 2711 2721 2721 2721 2721 2721 2721 2721 2721 2721 2721 2721 2721 2731 2731 2731 2731 2741 2741 2751 2752 2782 2782 2791 2800 2812 2812 2816 2816 2816 2819 2819 2819 2819 2819 2821 2821 2821 2821 2821 2821 2821 2821 VISALIA PACKAGING CORP. 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JOSEPH WEST WARWICK SOMERSET DEDHAM WEST BEND MINNEAPOLIS NEW YORK DETROIT MORRISTOWN NEW YORK MINNEAPOLIS MINNEAPOLIS SAN FRANCISCO CLEARWATER ESSEX FALLS PHOENIX ITASCA NEW YORK NEW YORK CULVER CITY NEW YORK LOS ANGELES GLENVIEW DETROIT ROCHESTER ELIZABETH DALLAS HONOLULU TULLY NEW YORK NEW YORK DEER PARK CLEVELAND SPRINGFIELD WISC. 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FOSECO MINSEP PLC ROYAL DUTCH SHELL GROUP FRANCE, GOVT. OF DUNLOP OLYMPIC LTD. KINUGAWA RUBBER INDUSTRIAL CO. LTD. RIVIERA SYSTEMS BUCHRMANN TETTERODE NV BERG, GUNTHER MITSUBISHI CORP. COOKSON GROUP PLC ROYAL DUTCH SHELL GROUP AM AM AM AM NP PE PE NP PE AM AM AM AM AM AM PE NP AM NP PE AM AM NP AM NP NP AM AM AM AM PE PE NP AM AM NP AM AM AM AM OT AM AM AM AM AM JV AM AM JV AM AM PE NP AM AM 135.0 2.0 10.0 GE UK JA FR GE UK SZ UK SZ SZ UK UK UK UK UK SZ CA GE UK GE GE UK IT GE GE UK DA SW SW UK SZ CA NL GE NO NL UK NL BE UK BE NL UK CA CA UK NL FR AS JA FR NL GE JA UK NL OTISVILLE RESCH TRI PK RES. TRI PARK NUTLEY NEW YORK TORRENCE ELWOODS GASTONIA PRINCETON BROOKLYN WILMINGTON CLIFFTON HOUSTON MRYTHE GR BRISTOL PAINESVILLE NORFOLK PAINEVILLE CHICAGO ARDSLEY NEWINGTON WILMINGTON LOS ANGELES E. 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KINGSTOWN WEEHAWKEN CHATTANOOGA GREENWICH STAMFORD LOUISVILLE MASON CITY LA GRANGE TULSA ATLANTA PHILADELPHIA UNION CITY CHARLOTTE TUSCALOOSA CHICAGO NEW YORK WATERBURY WATERBURY HOUSTON TOLEDO CLEVELAND WALLINGFORD BENTON HARBOR PITTSBURGH 28.0 . 8.0 1 .9 28.0 . . 7.2 6.0 . 108.7 2.4 . . 63.5 20.0 112.5 . . . . 6.0 5.1 . . 2.0 . 8.6 . 50.0 . 97.0 0.4 1 .0 # . 2.2 97.7 . 20.0 400.0 , , . 18.7 5.5 . 4.9 12.0 17.2 NATNALTY CA NL FI NL UK DA JA FR JA JA JA CA GE CA UK SW SZ AS SZ AS FR NZ SZ UK SZ TW JA UK GE FR JA JA JA KU JA JA UK JA JA JA JA JA AS CA JA UK CA JA SW CA JA CA SZ UK JA CA - 73 - 1985 FOREIGN INVESTMENTS SIC US FIRM NAME 3465 3469 3471 3479 3482 3498 3499 3499 3511 3511 3523 3523 3523 3531 3531 3535 3541 3541 3541 3544 3551 3551 3555 3555 3559 3559 3562 3562 3562 3562 3564 3564 3569 3569 3573 3573 3573 3573 3573 3573 3573 3573 3573 3573 3573 3573 3573 3573 3573 3574 3576 3585 3585 3585 3589 3589 TOPY INDUSTRIES PANEL-AIR CORP. TEIKOKU CHROMIUM PLATING CO. 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NP AM NP AM PE AM AM NP JV JV AM AM, < OT1 El NP AM NP NP JV AM OT OT El AM AM OT AM PE OT JV AM OT OT AM OT OT AM AM AM El NP AM NP OT El AM AM AM AM AM AM NP OT NP AM NP AL NJ NY CT MN NY VA CA MA CA TX OR CA OR MA NJ TX NJ MA CA NJ CA NC GA CA AL VALUE 26.0 3! 3 2.’5 2.8 107 !0 10.7 8.0 1 !3 4^6 1 !5 100.3 54.0 3!o 28.5 2.0 20.0 10.0 2.0 39.5 22! 0 71 .0 28.0 3! 8 42. 0 3.2 NATNALTY JA SZ JA GE IT JA JA UK NO NL GE NL GE IT GE UK JA JA JA JA AS SW GE UK CA GE JA JA SW JA BE JA GE SZ UK CA JA BE IT IT JA JA JA JA GE FR JA IT SW UK AS IS JA JA UK KS - 74 1985 FOREIGN INVESTMENTS LOCATION TS FOREIGN INVESTOR TY VALUE 3613 3613 3613 3621 3621 3622 3622 3634 3634 3641 3641 3643 3651 3651 3651 3661 3661 3661 3662 3662 3662 3662 3662 3662 3662 3662 3662 3662 3662 3662 3672 3674 3674 3674 3674 3674 3674 3674 3674 3674 3675 3679 3679 3679 3679 3679 3693 3693 3711 3711 3711 3714 3714 3714 3714 3714 BRUSH FUSES INC. DURALITH CORP. GOULD'S INDUSTRIAL CONTROLS DIV. 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ET AL INAMORI, KAZUO KAWASAKI STEEL CORP. OUTOKUMPU OY SHARP CORP. MERLIN GERIN SA TESEC CORP. MURATA MFG. CO. LTD. MEZZANINE CAPITAL CORP. LTD. HERAEUS WC GMBH HITACHI LTD. NIPPON MINING CO. LTD. NIPPON ELECTRIC CO. LTD. SIEMENS AG VICKERS PLC MITSUBISHI HEAVY INDS. LTD. ISUZU MOTOR CO. LTD MAZDA MOTOR CO. LTD. ALUSISSE (SWISS ALUMINUM CORP.) BOSCH FAMILY NISSAN MOTOR CO. LTD. UTC INTL AG ENKEI GROUP/MITSUBISHI GROUP OT AM AM NP El AM AM JV El JV OT AM El NP OT NP OT El AM AM OT OT PE NP OT AM AM AM NP AM JV NP AM AM NP AM AM JV AM NP OT AM NP NP AM PE AM AM JV NP NP AM NP NP AM NP UK UK FR JA GE FR 12!o SW . FR 523.0 CA JA GE 27.7 GE JA 16! 3 JA 37.0 JA 19.0 JA JA . JA UK FR UK CA JA 67! 0 JA UK TU 1 o ! o UK 12.5 UK 37.2 JA FI 20.*0 JA SW 12! 7 JA 4.7 JA 10.0 JA 9.4 JA FI 107 !8 JA 4.1 FR JA JA 72.5 UK GE 13.0 JA 1 .0 JA 25.0 JA GE 16.0 UK 289.0 JA 2.0 JA 337.5 JA 9.0 SZ GE JA . SZ 10.0 JA ATLANTA PLANTSVILLE LOWER FALLS WASHINGTON WATERBURY FAIRFIELD YORK WOBURN TERRE HAUTE RAHWAH MELVILLE TORRANCE FOSTER CITY CLAREMONT PORT CHESTER WHEELING BOCA RATON ORLANDO FRANKLIN PK. SANTA CLARA LONGMONT HORSEHEADS HIALEAH MILPITAS SANTA CLARA PRINCETON CAMAS SUNNYVALE MARIETTA COLUMBUS SUNNYVALE SAN FERNANDO PLEASANTVILLE BLOOMINGTON-N FLAT ROCK JAMESTOWN WEST PORT COLUMBUS o US FIRM NAME CM SIC . 3.5 NATNALTY - 75 1985 FOREIGN INVESTMENTS SIC US FIRM NAME LOCATION TS FOREIGN INVESTOR TY VALUE 3714 3714 3714 3714 3728 3731 3732 3743 3811 3811 3811 3811 3811 3822 3823 3823 3824 3829 3841 3841 3841 3841 3841 3841 3841 3842 3843 3843 3851 3944 3949 3949 3952 3999 3999 3999 4011 4011 4011 4212 4225 4225 4225 4225 4411 4411 4411 4411 4411 4411 4411 4411 4411 4411 4411 4411 HONDA OF AMERICA MFG HYUNDAI STEEL INDS. INC. KANTA CORP. US MACK TRUCKS INC. ALTERNEGY AMERICAN DIESEL MARINE NORSHIP CO. TECHNICAL FIBERGLASS INC. KAWASAKI HEAVY INDUSTRIES ERC UNIZAK CORP. 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LT LT AM AM PE AM AM AM AM AM AM AM JV AM NP AM AM AM AM AM AM NP AM AM AM AM PE AM El OT AM OT OT OT OT OT JV OT OT OT OT OT OT OT OT OT OT 12 0 2 3 2 0 1 0 32 2 2 6 1 0 58 0 5 0 8 5 2 5 60 0 10 0 570 6 , NATNALTY JA KS JA FR DA UK CA JA JA GE SZ GE SZ JA NA KS NA SW UK IT UK SZ GE LS NL UK UK UK SZ CA JA FR FR JA JA FR UK CA JA UK JA JA JA JA SW CH TW NO JA DA DA DA DA IT SZ JA - 76 1985 FOREIGN IN VE ST ME NT S SIC US FIRM NAME 4411 4411 4411 4411 4411 4411 4411 4411 4411 4411 4411 4411 4463 4463 4463 4463 4469 4511 4511 4511 4511 4511 4511 4511 4712 4712 4811 4911 4923 4941 4953 4953 4953 5012 5012 5012 5012 5012 5012 5013 5013 5013 5013 5013 5021 5021 5031 5043 5051 5051 5051 5051 5051 5051 5051 5051 MOL INTERMODAL INC. MOL USA INC. NAVIERA PACIFICO CA PVC LINES S.A.T. SAMBAND LINE SCANAMERICA LINES SEA-BARGE SHIPPING CORP. OF INDIA LTD. STAR SHIPPING (USWC) INC. TRASATLANTICA AGENCY (USA) ZIM-AMERICAN ISRAELI SHIPPING CO. CEMSTAR CIMS INTL NORTH AMERICA INC. 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LOCATION NEW YORK NEW YORK NEW YORK LOS ANGELES GLENDALE NEW YORK NEW YORK OAKLAND WASHINGTON S. WINDSOR PHILADELPHIA PALM BEACH GARDEN GROVE IRVINE IRVINE TOLEDO FT. CUSTER PK NILES LOS ANGELES COLUMBUS TOLEDO STAMFORD PITTSBURG HOUSTON NEW YORK TS FOREIGN INVESTOR TY IL NY CA AK WA NY NY FL NY IL NY VA PA NY KY NY FL CA CA NY TX NY MA NY CA CA DC CT NY PA WV FL NJ NJ CA PA CA CA FL OH PA FL GA MI DE IL WA CA OH OH CT KY CA CA TX NY MITSUI OSK LINES LTD. NITSUI OSK LINES LTD. DUARTE, PARTIDAS Y ASOCIADOS PV CHRISTENSEN NIPPON EXPRESS CO. LTD. SAMBAND ISLENZKRA SAMVINNUFELAGA GORTHON LINES MADURO GROUP INDIA, GOVT OF STAR SHIPPING A/S SPAIN, GOVT OF ISRAEL, GOVT OF TORVALD KLAVNESS & CO. AS ADHERENCE GROUP WEST GERMANY, GOVT. OF CIE GENERALE MARITIME ET FINANCIERE REEDEREI EUGEN FRIEDRICH MITSUI & CO. LTD. THOMAS NATIONWIDE TRANSPORT LTD. CALEDONIAN AVIATION GROUP PLC WEST GERMANY, GOVT OF ALL NIPPON AIRWAYS CO. LTD. BELGIUM, GOVT. OF TOKYO AIR CARGO CUSTOMS CO. LTD. SANTA FE TRANSPORT INTERNATIONAL MARUBENI CORP. UNITED KINDOM, GOVT OF TOSHIBA CORP. TOKYO GAS CO. LTD. FRANCE, GOVT OF HANIEL UMWELTSCHUTZ ATTWOODS GROUP CHEMCONTROL A/S BAYERISCHE MOTOREN WERKE GMBH-BMW HYUNDAI MOTOR CO. LTD IFI INSTITUTO FINANZIARO IND. KAWASAKI HEAVY INDS. LTD. MAZDA MOTORS CO. LTD. JINDO GROUP LEWO, JOE MITSUBISHI HEAVY INDS. LTD. HINO MOTORS LTD/MITSUI & CO. SAAB-SCANIA AB STANLEY ELECTRIC CO. LTD. KAMPRAD, INGVAR WESTNOFA LTD A/S PEOPLES REPUBLIC OF CHINA, GOVT OF NIPPON KOGAKU KK NISSHO IWAI CORP. MARUBENI CORP. BOLIDEN AG C. ITOH & CO. LTD. DATA CABLE WEST GERMANY, GOVT. OF KITAZAWA VALVE CO. LTD. SHOWA LIGHT METAL CO. OT OT OT OT OT OT OT JV OT OT OT OT OT OT AM OT OT OT AM OT OT OT OT OT OT OT JV JV OT El JV AM JV OT OT OT OT OT PE AM OT OT OT OT OT OT OT OT AM AM OT OT OT PE OT OT VALUE 0 2 3 0 1 0 4 0 11 2 13 0 45 0 2 0 11 2 1 2 10 0 5 0 4 0 2 3 NATNALTV JA JA VE DA JA IC SW NA IN NO SP IS NO BE GE FR GE JA AS UK GE JA BE JA HK JA UK JA JA FR GE UK DA GE KS IT JA JA KS CA JA JA SW JA SW NO CH JA JA JA SW JA AS GE JA JA - 77 1985 FOREIGN INVESTMENTS SIC US FIRM NAME LOCATION TS FOREIGN INVESTOR TY 5051 5063 5063 5063 5063 5063 5063 5063 5063 5063 5063 5063 5065 5065 5065 5072 5072 5081 5081 5081 5081 5081 5081 5082 5082 5082 5083 5083 5084 5084 5084 5084 5084 5084 5084 5084 5084 5084 5084 5084 5084 5084 5084 5084 5085 5086 5086 5086 5088 5088 5093 5093 5094 5094 5099 5113 VICKSMETAL CORP. ACEC ALMAC ELECTRONICS ASTON ELECTRONICS (ASI) BLOXCOM CORP. COMMUNICATIONS CORP. OF AMERICA HOKURIKU/ULTECH JAMES HOWDEN MANSOUR INTL TAKEDA RIKEN AMERICA INC. TOP SUN AMERICA INC. TOSHIBA AMERICA INC. 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VICKSBURG CLEVELAND BELLEVUE OLATHE WHEELING DALLAS SKOKIE MS OH WA KS IL TX IL CA PA NJ TN CA CA CA GA IL OR CA CA NY MO NY GA MD IL TX TN MN NC PA GA MA NC IL TX NH IL OH NY KY TX CO WA CA TX CA MD NJ FL IL GA PA NY NJ NY NY SUMITOMO CORP. LTD. ACEC (ATELIERS DE CONSTRUCTIONS ELECT.) LEX SVC. PLC ASTON ELECTRONIC DESIGNS LTD. SIEMENS AG FRANCE, GOVT OF HOKURIKU ELECTRIC IND. CO. LTD. HOWDEN GROUP MANSOUR, JOSEPH TAKEDA RIKEN CO. LTD. TOP SUN LAUTERBACH INC. TOSHIBA CORP. TOSHIBA CORP. SUMITOMO ELECTRIC INDUSTRIES LTD. YASKAWA ELECTRIC MFG CO. LTD. GB-INNO BM KAI CUTLERY CO. LTD APPLIED COMPUTER TECH. (HLDGS) PLC LEX SERVICE PLC ADVANCED DATUM INFORMATION CORP. MAKA JAPAN DE BENEDETTI FAMILY WITTENBORGS AUTOMATFABRIKER A/S BENATI SPA KOMATSU LTD. CHINA PR., GOVT OF NORCEM A/S HANS GIESBERT CO. BARUDAN CO. LTD. BUTTERFLY ENGINEERING LTD FAG KUGELFISCHER GEORG SCHAFER FANUC LTD. FUJI KIKAI SEISAKUSHO CO. LTD. HAMAI CO. LTD. SKEIE GROUP MULTIMATIC INTL NISSHO IWAI CORP. NIPPON PNEUMATIC MFG. CO. LTD. OKUMA MACHINERY WORKS LTD. OSL SA LYLE OFFSHORE GROUP PLC ASAHI OPTICAL CO. LTD. TANAKA KIKINZOKU KOGYO KK VOSS ELECTRONIC NIMSLO INTL LTD EPPENDORF GERAETEBAU NETH HINZ BAT INDUSTRIES PLC SCHMIED, ARNOLD EMBRAER EMPRESSA BRASILIERA AERO. MITSUBISHI HEAVY INDUSTRIES LTD. SMURFIT FAMILY ELG HANIEL GMBH ASPREY & CO. PLC HATTORI SEIKO CO. LTD. HOKUSUI MITSUBISHI PAPER MILLS LTD. OT OT AM OT AM AM JV OT OT OT OT OT OT OT OT AM OT OT El AM OT OT OT OT OT OT AM OT OT OT OT OT OT OT AM OT OT OT OT OT OT OT OT NP AM OT OT OT PE OT AM AM OT OT OT OT SCRANTON FT. LEE CHATTANOOGA TUSTIN TUSTIN FREEMONT CHICAGO WILSONVILLE FREEMONT LOS ANGELES MELVILLE JEFFERSON CTY NEW YORK NORCROSS BOWIE CHICAGO HOUSTON ROCKWOOD WILLMAR GREENSBORO PITTSBURGH NORGROSS FRAMINGHAM CHARLOTTE CHICAGO HOUSTON AMHERST CHICAGO CLEVELAND HAUPPAUGE LOUISVILLE HOUSTON ENGLEWOOD BOTHELL SANTA ANA SAN ANTONIO CHICAGO PITTSBURGH NEW YORK VALUE 1 0 3 0 2 3 14 5 2 0 0 2 3 5 2 3 19 6 1 0 1 0 0 0 NATNALTY JA BE UK UK GE FR JA UK EG JA GE JA JA JA JA BE JA UK UK CH JA IT DA IT JA CH NO GE JA UK GE JA JA JA NO SZ JA JA JA FR UK JA JA GE BD GE UK IT BR JA El GE UK JA JA JA - 78 1985 FOREIGN INVESTMENTS NATNALTY SIC US FIRM NAME LOCATION TS FOREIGN INVESTOR TY VALUE 5113 5113 5122 5122 51 41 5143 5149 5161 5161 5161 5161 5161 5161 5161 5161 5161 5161 5161 5161 5171 5172 5181 5182 5191 5191 5211 5211 5311 5311 5311 5311 5411 5411 5411 5441 5462 5499 5541 5541 5541 5611 5621 5621 5621 5621 5621 5631 5631 5631 5631 5631 5641 5661 5661 5661 5712 MONMOUTH PAPER CO. INC. 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GARTNER CHOCOLATES ROWNTREE MACKINTOSH PLC SUNTORY LTD. ROYAL DUTCH SHELL GROUP DICKSON TOO (HOLDINGS) LTD. ROYAL DUTCH SHELL GROUP RICCI, VITTORIO GA PACIFIC GROUP POSUNS & KAY FAMILIES VOLCAN SANDERS, JILL YAMAMOTO, KANSAI LTD. BREE COLLECTION GMBH ESPRIT DE CORP. FAR EAST ESPRIT DE CORP. FAR EAST CANOVAS, ISABEL MANUEL HERRERO BENETTON SPA BALLY AROLA AG RALLYA SA JOURDAN FAMILY BRICK WAREHOUSE AM AM JV PE AM OT AM OT OT OT OT OT OT OT NP JV OT NP OT OT OT NP OT AM AM AM El AM OT El AM AM AM OT OT AM AM AM AM AM OT AM AM OT OT OT OT OT OT OT OT OT PE OT OT PE UK UK JA JA UK JA CA NL JA IT IT IT IT IT BE JA FR FR JA JA FR UK UK FR UK UK 10 0 BE NA FR NZ CA 22 6 FR 1 0 SA JA BE 36 0 UK JA 150 0 NL UK NL IT HK 25 3 CA FR GE JA GE HK 10 0 HK FR SP IT 5 0 SZ FR FR CA NEW YORK CARLSTADT PORTLAND BOULDER ENKA NEW YORK COLORADO SPRG TEANECK ROCHESTER COON RAPIDS RALEIGH WINTER HAVEN DETROIT NEW YORK CLEVELAND JACKSONVILLE CLEVELAND NEW ORLEANS LOS ANGELES EL CAJAN HARRISON NEW YORK NEW YORK NEW YORK ATLANTA - 79 1985 FOREIGN INVESTMENTS SIC US FIRM NAME 5712 5713 5719 5719 5732 5812 5812 5812 5812 5812 5812 5812 5812 5812 5812 5812 5812 5812 5812 5812 5812 5812 5812 5941 5942 5943 5944 5944 5944 5944 5946 5946 5961 5993 5994 5999 5999 60 60 60 60 60 60 60 60 60 IKEA IKEA CONRAN STORES INC. 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CHRISTIE INTL UNIVERSAL MONEY CENTERS PLC WHARTON WILLIAMS BRITISH CAR AUCTION GROUP PLC AM AM AM OT AM OT OT AM AM AM OT AM JV OT AM AM AM AM AM NP AM AM NP NP AM AM OT AM AM El AM OT AM AM NP JV AM OT JV PE AM OT NP OT AM AM OT NP JV AM AM OT PE AM AM El SAN JOSE ARLINGTON MONTEREY CAMPBELL SAN FRANCISCO OREM ANN ARBOR BOULDER DENVER HOPKINS SACRAMENTO OREM ALEXANDRIA HOPKINTON HOUSTON NEW YORK ALEXANDRIA DURHAM MOUNTAIN VIEW NEW YORK NEW YORK HIGHTSTOWN MESA OKLAHOMA CITY NEW YORK DOWNERS GROVE HOUSTON NEW YORK VALUE 1 3 2 0 6 0 9 0 1 0 2 6 5 5 5 3 9 0 0 2 10 0 2 0 3 0 15 0 5 0 12 5 3 6 NATNALTY1 UK FR UK UK JA JA AS NL CA CA NL NL JA JA UK CA CA UK CA JA UK CA BR GE CA HK GE SW JA UK NL JA FR IS NL NO UK CA JA UK CA JA UK JA UK UK JA UK El FR UK JA UK UK UK UK - 82 1985 FOREIGN INVESTMENTS SIC US FIRM NAME LOCATION TS FOREIGN INVESTOR TY 7699 7832 7948 7999 8059 8081 8081 8249 8611 8911 8911 8911 8911 8911 9611 9611 DECAIR CORP. PLITT THEATERS HOLDINGS INC. 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OF BRONFMAN FAMILY El OT El OT AM AM OT AM El AM AM AM AM AM OT AM AM AM AM OT AM OT OT AM NP NP OT AM AM PE OT El AM NP AM AM NP PE OT OT AM AM AM RE AM AM AM PE OT OT AM AM AM AM AM OT 97 7 GLENDALE ABILENE HOUSTON REDDING SANTA ROSA HIALEAH ENGLEWOOD SAN ANTONIO CLEVELAND ENGLEWOOD CANTON CHICAGO DEER PARK WINTER HAVEN GLENVIEW NEW YORK DENVER ROSSLYN CLEVELAND TOLEDO ATLANTA LITTLETON EAST WALPOLE MINNEAPOLIS WATERBURY ELIZABETH ANN ARBOR - 84- 0 1 4 0 0 1 20 0 745 0 0 3 2 8 3 7 2 3 28 5 14 5 10 0 19 6 1 2 225 0 50 0 9 0 5 5 1985 FOREIGN INVESTMENTS COMPLETED TRANSACTIONS NA US FIRM NAME CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA .CA CA CA CA CA CA CA CA .CA -CA CA CA CA CONOCO INC1S WELL CONOCO-TENNECO PLANT CONTAINER CORP OF AMERICA'S PLANTS (2) CONTAINER GENERAL CORP. COPPER RANGE CO. CROWN LIFE INSURANCE CO. DIGITAL RESEARCH INC. 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POTASH PRODUCERS INC'S ASSETS PRAIRIE PRODUCING CO. PREMIUM BEVERAGES INC. LOCATION CHATTANOOGA NEW ORLEANS ALEXANDRIA MONTEREY ALEXANDRIA DENVER MINNEAPOLIS WILMINGTON CAMPBELL HARRISON DETROIT SYRACUSE WHEELING ROCHESTER BOULDER LAS VEGAS PITTSBURGH LOS ANGELES FLEMINGTON WASHINGTON MINNEAPOLIS MINNEAPOLIS NEW YORK MIDLAND HOUSTON CHICAGO CHICAGO DALLAS TS SIC FOREIGN INVESTOR TY CA NM IL TN LA VA CA VA CO MN DE TX CA NJ IL MI NY IL AZ TX DC NY CO NV AL PA HI CA NJ MN DC MN MN NY AZ TX TX IL 1311 1311 2649 3221 1021 63 7372 7392 xxxx 2721 2851 2879 7372 5621 2952 2721 xxxx 3662 1041 5812 7392 2752 5149 xxxx 1311 3444 7216 60 2026 xxxx xxxx 2721 2721 62 1044 1311 3357 2082 1311 4011 XXXX 5812 2721 3079 2711 1311 xxxx 62 2711 xxxx xxxx 1311 7832 1474 1311 2087 BRONFMAN FAMILY BRONFMAN FAMILY MACMILLAN BLOEDEL LTD. POWER CORP. OF CANADA ECHO BAY MINES LTD. CROWN LIFE INSURANCE CO. BELL CANADA ENTERPRISES DOBBINS, JAMES TRIZEC CORP. LTD. 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BRONFMAN, EDWARD 8 PETER SEAGRAM FAMILY OT JV AM AM AM OT AM OT RE AM NP PE AM AM AM AM RE OT OT OT AM AM AM RE AM El OT OT AM RE RE AM AM JV OT AM El OT OT El RE OT AM AM AM AM RE AM AM RE RE AM AM AM AM AM IL TX IL FL CLEARWATER SHAMOKIN PA MS FL NY MI CA TX CA IL NM TX CT TAMPA NEW YORK ST. JOSEPH SALTON CITY DALLAS TUSTIN CHICAGO HOUSTON GREENWICH - 85 - VALUE 3.4 7 !2 55.0 6.0 119.0 9. 0 25.3 66 .0 48.0 3.0 2.0 3o !o 18.4 17.2 4! 6 7.5 18^7 36 .6 570.6 1 !3 3^0 29.5 90.0 32! 5 194.0 1985 FOREIGN INVESTMENTS COMPLETED TRANSACTIONS NA US FIRM NAME CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CA CH CH CH CH CH DA DA DA DA DA DA DA DA DA DA DA DA PUMP'N PANTRY RETAIL INSIGHTS INC. REVERE ALUMINUM SE DIV PLANT RINCON SQUARE RIVERSIDE CENTER SAN JOSE PLAZA SCOVILL INC. SEFEL GEOPHYSICAL 'S USA ASSETS SHANNON TOWER BLDG SHOPPING CENTER (4) SIGNATURE CENTER SKYWORD MARKETING LTD. SOMERSET PUBLISHING CO. INC. STOUFFER INDIAN WELLS RESORT SUNNYSIDE MINE TECHNICAL FIBERGLASS INC. THATCHER GLASS CORP. TOM BROWN INC'S OIL PROPERTIES TRANSCRIPT NEWSPAPERS (2) TWO PERSHING SQUARE UNITED FIN. OPERATIONS INC'S COAL ASSETS WEPCO ENERGY CO. WEST BEND NEWS WESTERN UNION'S DATA SRVS. CORP. 2001 L ST., N.W. 6500 WILSHIRE BLVD COSCO NORTH AMERICA INC. ESPRIT SYSTEMS INC. MORRIS PAPER BOARD CO'S PLANT NEW ENERGY MACHINERY INC. SUNRY INC. ALFRED & CHRISTIAN PETERSEN LTD ALTERNEGY AMERICAN ENVIROCARE INTERNATIONAL MAERSK LINE MAERSK LINE MAERSK LINE MAERSK LINE PVC LINES ROYSTER CO. SUPERFOS EMBALLAGE WITTENBORG 20 WEST 55TH ST. MANSOUR INTL AUSTELL PACKAGING INC. CONSOLIDATED FIBRES INC.'S PLANT GROVETON PAPER BOARD INC. INDUSTRIAL BLDGS JEFFERSON SMURFIT CORP. PAN ATLANTIC CONSULTANTS PUBLISHERS PAPER CO. RICHMOND HILL SHARICK PACKING INC. VISALIA PACKAGING CORP. AMERICAN CYANAMID'S TITANIUM DX. PLANT CHEMBOND El El El El El El El .El -El El FI FI LOCATION ESSEX FALLS SAN FRANCISCO RIVERSIDE SAN JOSE WATERBURY DENVER EAST POINT SAN ANTONIO ATLANTA PHOENIX SOMERSET INDIAN WELLS GREENWICH DEDHAM KANSAS CITY CLEVELAND WEST BEND TS SIC FOREIGN INVESTOR TY MI NJ AL CA CA CA CT CO GA TX GA AZ NJ CA CO NY CT UT MA MO 5311 2721 3353 xxxx xxxx xxxx 3634 7374 xxxx xxxx xxxx 2721 2711 xxxx 1041 3732 3231 1311 2711 xxxx 1211 1382 2711 7379 xxxx xxxx 4411 5081 2631 5082 5031 2131 3728 4953 4411 4411 4411 4411 4411 2873 3079 5081 xxxx 5063 2641 5093 2649 xxxx 2621 7392 2641 xxxx 2649 2631 2816 2821 SILCORP LTD. MACLEAN HUNTER HOLDINGS LTD. EVERST HOLDINGS (ONTARIO) LTD. MARATHON REALTY CO. LTD. DAON DEVELOPMENT CORP. HUDSON EQUITIES BELZBERG FAMILY ENERTEC GEOPHYSICAL SRVS CO. INVESTMENT GROUP MANN, GEORGE S. CADILLAC FAIRVIEW CORP. LTD. SKYWORD MARKETING LTD. PELADEAU, PIERRE DAON CORP. ET AL ECHO BAY MINES LTD MASON BOATS LTD. POWER CORP. OF AMERICA PAN CANADIAN PETROLEUM LTD. THOMSON FAMILY TRIZEC CORP. LTD. SATURN ENERGY 8 RESOURCES LTD. STATES EXPLORATION LTD. THOMSON FAMILY ZYTEC LTD. HUDSONS BAY CO. CADILLAC FAIRVIEW CORP. LTD PEOPLES REP OF CHINA, GOVT. OF ADVANCED DATUM INFORMATION CORP. PEOPLES REPUBLIC OF CHINA, GOVT OF CHINA PR., GOVT OF PEOPLES REPUBLIC OF CHINA, GOVT OF PETERSEN FAMILY ALTERNEGY CHEMCONTROL A/S A.P. MOELLER GROUP A.P. MOELLER GROUP A.P. MOELLER GROUP A.P. MOELLER GROUP PV CHRISTENSEN SUPERFOS A/S SUPERFOS A/S WITTENBORGS AUTOMATFABRIKER A/S PRIVATBANKEN MANSOUR, JOSEPH SMURFIT FAMILY SMURFIT FAMILY SMURFIT FAMILY ROHAN GROUP SMURFIT FAMILY MILLER, DAVID R. SMURFIT FAMILY DURLAN BROS. SMURFIT FAMILY SMURFIT FAMILY FINLAND, GOVT. OF FINLAND, GOVT OF AM AM AM RE RE RE El AM RE RE RE OT AM RE AM NP AM AM AM RE AM AM AM AM RE RE JV AM AM OT OT PE NP JV OT OT OT OT OT AM NP OT RE OT JV AM AM RE PE JV AM RE AM AM AM AM OH WI NJ DC CA NJ NY NJ TX WA KY MN NJ MN IL FL WA AK VA MD GA NY PA FL GA NH CA OH OR OR NY MO CA GA OR WASHINGTON LOS ANGELES SECAUCUS MELVILLE PATTERSON HOUSTON CROOKSTON NORFOLK NORCROSS NEW YORK SCRANTON JACKSONVILLE GROVETON SIMI VALLEY PORTLAND OSSINING ST. LOUIS VISALIA SPRINGFIELD - 86 - VALUE 16 0 25 0 523 0 57 0 65 0 20 0 45 0 42 0 5 3 90 0 1 7 2 3 45 0 113 0 30 0 11 0 7 8 149 2 100 0 1985 FOREIGN INVESTMENTS COMPLETED TRANSACTIONS NA US FIRM NAME LOCATION TS SIC FOREIGN INVESTOR TY FI FI FI FI FI FI FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR FR .FR FR FR FR FR FR FR FR .FR -FR FR FR FR FORD GUM & MACHINERY CO. INC. KANSALLIS KANSALLIS-OSAKE-PANKII BANK POLY-PAC INC. PRINCETON GAMMA TECH INC. TYCO TECHNOLOGY INC. AFA CORP'S PLANT AFFIVAL INC. BIGGS PLACE BISHOP GRAPHICS IN BNP AMER. PROP. APP. CO. BNP PROPERTY CAP. APP CO. CARLSON GROUP INC. CARTIER CELANESE CORP'S SEED DIV. CELWAVE TECHNOLOGIES INC. CHANTECLAIR CHAUMET CINE CLUB VIDEO CLUB MED INC. COMMUNICATIONS CORP. OF AMERICA CREDIT AGRICOLE (BRANCH) CREEKSIDE DAHLGREN & CO. DELSEY DUPONT, S.T. ELLE-AMERICAN EDITION EMH SYSTEMS INC. FRENCH LINE GAB BUSINESS SERVICES, INC. GENERAL SPORTS VENTURES GOULD'S ELECTRICAL CONTROLS OPER. GOULD'S INDUSTRIAL CONTROLS DIV. GULF OF MEXICO OIL/GAS LEASES (6) HAMILTON BEACH/MOULINEX INC. HECHTER, DANIEL HEIM CHEESE COfS PLANT HOTEL IBIS HOTEL IBIS HOTEL SOFITEL HOWMET TURBINE COMPONENTS CORP. ISABEL CANOVAS BOUTIQUE JOURDAN, CHARLES BOUTIQUE L1AMANGUIER LES TRICOTS CAROLL LIL CHAMP FOOD STORES INC. LOUISVILLE CEMENT CO. LUCKY McMILL MINE MACK TRUCKS INC. MARSTELLER NC. MOSTEK CORP. OIL WELLS (14) OLLA INDUSTRIES INC. OMNI INTNTL HOTEL OSL CORP. OTISVILLE BIOTECH INC. AKRON NEW YORK NEW YORK DALTON PRINCETON LONGMONT MIAMI NY NY NY GA NJ CO FL PA CO CA NY NY MA DC NY NC CA NY NY NY TX CA CA MN MD NY NY TX NY NJ GA CT MD AL NC NY WI GA GA OH VA NY NY IL IL FL KY WY NC PA TX TX NJ CA KY NY 2067 60 60 3079 3674 3662 3079 3312 xxxx 3952 6711 6711 1541 5944 5191 3662 xxxx 5944 5732 7011 5063 60 xxxx 2079 5172 5943 2721 1389 4463 6411 5661 3622 3613 1311 3634 5311 2022 7011 7011 7011 3999 5631 5661 5812 5621 5411 3241 1094 3714 7311 3573 1311 3171 7011 5084 2831 HUHTAMAEKI OY KANSALLIS-OSAKI-PANKKI KANSALLIS-OSAKE-PANKII BANK ROSENLEW OY AB W OUTOKUMPU OY VAISALA OY RIVIERA SYSTEMS DENAIN NORD-EST LONGWY SA S.M.E.C.I. ET AL AXA (MUTEULLES UNIES DROUOT) BANQUE NATIONALE DE PARIS BANQUE NATIONALE DE PARIS SOC. AUXLIARE D'ENTERPRISE CARTIER SOCf ANONYME LAFARGE COPPEE SA FRANCE, GOVT. OF LES NOUVEAUX CONTRUCTEURS CHAUMET, PIERRE CINE CLUB VIDEO CLUB MEDITERRANEE SA FRANCE, GOVT OF CREDIT AGRICOLE MUTUEL LES NOUVEAUX CONSTRUCTEURS FRANCE, GOVT. OF DELSEY DUPONT, S.T. FILIPACCHI, DANIEL EMH CIE GENERALE MARITIME ET FINANCIERE SOCIETE GENERALE DE SURVEILLANCE HOLDING RALLYA SA LE TELEMECANIQUE ELECTRIQUE TELEMECANIQUE ELECTRIQUE SA SCHLUMBERGER FAMILY MOULINEX SA HECTER, DANIEL INTL MOD DESIGN BRESSE BLEU FROMAGERIES SPHERE SA SPHERE SA ACCOR FRANCE, GOVT OF CANOVAS, ISABEL JOURDAN FAMILY SOC1 FELIX BELLON SA VOLCAN DEROY & TOULOUSE FAMILIES POILET FRANCE, GOVT OF FRANCE, GOVT. OF FRANCE, GOVT OF FRANCE, GOVT. OF FRANCE, GOVT. OF SOC' FERMIERE ET DE PARTICIPATIONS BANQUE NATIONALE DE PARIS OSL SA JANIN, PIERRE AM OT OT AM AM AM AM NP RE AM JV JV AM OT AM AM RE OT OT OT AM OT RE AM OT OT JV OT OT AM OT AM AM AM JV OT AM RE RE OT PE OT OT OT OT AM AM OT NP AM AM OT AM RE OT AM THORNTON WESTLAKE VIL. NEW YORK NEW YORK COCHITUATE ROCHESTER CLAREMONT ONTARIO NEW YORK NEW YORK DALLAS SAN FRANCISCO ONTARIO CROOKSTON NEW YORK HOUSTON NEW YORK PARSIPPANY ATLANTA PLANTSVILLE WESTMINISTER WASHINGTON NEW YORK WATERTOWN MACON ATLANTA TOLEDO JACKSONVILLE LOUISVILLE PITTSBURG CARROLLTON WEEHAWKEN SAN DIEGO LOUISVILLE OTISVILLE - 87 - VALUE 6 !5 2.0 50. 0 2.2 11! o 27.0 2.1 22. 6 112. 5 4.0 71 .0 1 !9 1 4. 5 1985 FOREIGN INVESTMENTS COMPLETED TRANSACTIONS NA US FIRM NAME LOCATION TS SIC FOREIGN INVESTOR TY VALUE FR FR FR FR FR FR FR FR FR FR FR GA GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE .GE GE GE GE GE GE GE GE .GE •GE GE GE GE PHILADELPHIA SUBURBAN CORP. POGO PRODUCING CO. PURIFICATION ENGINEERING RESIDENTAL DEVELOPMENT RHONE-POULENC INC. SISPY CHEMICAL CORP. SMART & FINAL IRIS TAYLOR MADE INC. TELMOS INC. UNITED REFINING CO. VATIC SYSTEMS INC. LAND (10.5 ACRES) A.B. DICK BLDG ACADEMY INSURANCE GROUP INC. ALLIS CHALMERS* AGRIC. EQUIP. CO. BASF WYANDOTTE BASF WYANDOTTE CORP. BERG INDUSTRIES BLOXCOM CORP. BMW OF NO. AMERICA BOEHRINGER MANNHEIM PHARMACEUTICALS BOSCH CORP. BREE LTD. BVER ENVIRONMENTAL INC. CARROWS RESTAURANTS INC. CASA MARIA RESTAURANTS CELANESE CORP*S STRUCTURAL COMPOSITE*S D CHOMERICS INC. CLEANCOAL TERMNAL CO*S ASSETS COMPUGRAPHIC CORP. COMPUTER TECHNOLOGY & IMAGING'S ASSETS DARRYL 'S RESTAURANTS DEUTZ-ALLIS CORP. DINNER HOUSE RESTAURANTS DIXON, JOSEPH CRUCIBLE DURKOPP AMERICA INC. EGRET ENERGY CORP. EPPENDORF INC. FEIST-INCHOM FERALLOY WEST CORP. GLENRIDGE CENTER GRACE, WRfS ORGANIC CHEMICAL DIV. GRACE, WR*S RESEARCH CENTER GULF OF MEXICO OIL/GAS LEASES (17) HEINKEL FILTERING SYSTEMS INC. HERAEUS-AMERSIL HERCOFINA CO. HOECHST-ROUSSEL AGRI-VET CO. HOLT GENERAL BOOKS HUNGRY TIGER INC. HYDROCARBON RESOURCES CO. IN FASHION INMONT CORP. INTERPANE COATING INC. JOSLYN MFG & SUPPLY COfS PLANT KAMPF MACHINERY CORP. PHILADELPHIA HOUSTON PA TX MD CA CO NJ CA IL CA PA AZ GA OH PA WI LA MI TN IL NJ MD OH NY WV CA CA NY MA KY MA TN FL WI NY PA GA TX CA GA CA GA NH MD AL CT GA NC NJ NY CA UT NY NJ WI OH TN 4941 1311 7391 xxxx 5161 5161 5812 3949 3674 2999 7392 xxxx xxxx 63 3523 2833 2865 3079 5063 5012 7391 3714 5631 4953 5812 5812 2823 3643 4463 3555 3841 5812 3523 5812 3297 5084 1382 5086 3811 5051 xxxx 2819 7391 1311 3569 3679 2865 287 2731 5812 1499 2721 2851 3231 3479 3559 FRANCE, GOVT OF SCHLUMBERGER FAMILY FRANCE, GOVT OF LES NOUVEAUX CONSTRUCTEURS FRANCE, GOVT. OF SISPY ESTf ECON1 duCASINO GUICHARD SALOMAN FRANCOIS & FILS SA MERLIN GERIN SA FRANCE, GOVT. OF FRANCE, GOVT. OF ROSTLAND CORP. UNIDENTIFIED INVESTOR A ACHERNER UND MUENCHENER BETEILINGUNGS KLOECKNER-HUMBOLDT DEUTZ AG BASF AG BASF AG BERG, GUNTHER SIEMENS AG BAYERISCHE MOTOREN WERKE GMBH-BMW BOEHRINGER MANNHEIM GMBH BOSCH FAMILY BREE COLLECTION GMBH HANIEL UMWELTSCHUTZ FLICK, FRIEDRICH K. FLICK, FRIEDRICH K. BASF AG FLICK, FRIEDRICH K. WEST GERMANY, GOVT. OF BAYER AG SIEMENS AG FLICK, FRIEDRICH K. KLOCKNER-HUMBOLDT DEUTZ FLICK, FREIDRICH K. SOHNE NOLTE FAMILY FAG KUGELFISCHER GEORG SCHAFER SCHWAB, D. AND FLURSCHEUTZ, G. EPPENDORF GERAETEBAU NETH HINZ FEIST-INCHOM WEST GERMANY, GOVT. OF PHILLIP HOLTZMAN AG ET AL FLUCK, FRIEDRICH K. FLICK, FRIEDRICH K WEST GERMANY, GOVT OF HEINKEL FILTERING SYSTEMS HERAEUS WC GMBH HOECHST AG HOECHST AG VERLAGS GEORG VON HOLTZBRINCK GMBH FLICK, FRIEDRICH K. THYSSEN SCHACTBAU GMBH SCHINDLER, PETER U. BASF AG INTERPANE COATINGS SHWEITZER, HARALD ERWIN KAMPF GMBH & CO. MASCH El AM AM RE OT NP El AM AM AM AM RE RE AM AM NP PE PE AM OT NP NP OT JV AM AM AM AM AM El AM AM OT AM AM OT AM OT PE PE RE OT OT AM OT NP AM NP AM AM JV OT AM NP AM OT 11 2 LOS ANGELES COLORADO SPRG LOS ANGELES McHENRY SUNNYVALE WARREN MESA ATLANTA COLUMBUS READING WEST ALLIS WHEELING NEW YORK SANTA BARBARA NEW YORK WOBURN WILMINGTON KNOXVILLE WEST ALLIS NEW YORK PHILADELPHIA NORGROSS HOUSTON TYRONE PITTSBURG SANDY SPRINGS SOUTH NORWALK NEW YORK NEW YORK CLIFFTON NASHVILLE - 88 - 2 9 4 1 31 0 2 1 107 0 20 0 1 0 135 27 1 4 0 7 0 6 2 3 26 0 1000 0 6 0 1 5 1985 FOREIGN INVESTMENTS COMPLETED TRANSACTIONS NA US FIRM NAME LOCATION TS SIC FOREIGN INVESTOR TY GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE GE HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK HK IC .ID IN IN IS IS IS IS IT .IT •IT IT IT IT KETUCKY HORSE CENTER INC. LOCTITE CORP. LUFTHANSA GERMAN AIRLINES LUTRAVIL CO. (THE) MATRIX CORP. MOBAY CHEMICAL CORP. MULTIUSE PROJECT NATIONAL MEDICAL CARE INC. NCC INDUSTRIES INC. PACESETTER SYSTEMS INC. PETRACH SYSTEMS INC. PROBAT US INC. REEDEREI EUGEN FRIEDRICH INC. SANDER, JILL SCHMIDT ENGINEERING & EQUIP. CO. LTD. SELAS FLUID PROCESSING CORP. SIEMENS-ALLIS INC. SOLTRON INC. SPECHT OF AMERICA STEELMET INC. TOP SUN AMERICA INC. TYSONS CORNERS SHOPPING CENTER VOSS ELECTRIC INC. WESTERN PETROLEUM CORP. WIEGAND EVAPORATORS CORP. BEVERLY WILSHIRE HOTEL CAROL & MARY LTD. ENERGY ENVIRONMENTAL RESEARCH CORP. ESPRIT DE CORP ESPRIT DE CORP. GOLDEN PACIFIC NATfL.fS FOUR BRANCHES HAWAII TACO BELL FRANCHISE HOLIDAY CROWNE PLAZA INNOVATIVE MEDIA INC. KAMTEL CORP. MARINE MIDLAND BANK MARINE MIDLAND REALTY CREDIT CORP. BRANC MAYFLOWER HOTEL OCTAVIA CONDOMINIUM OFFICE BLDGS SEARCH BUILDERS INC. UNIBANC TRUST CO.fS FINANCE BUSINESS SAMBAND LINE BANK CENTRAL ASIA PT EXECUTIVE INN SHIPPING CORP. OF INDIA LTD. COLD POINT AIR CONDITIONERS INC. ROYCE DATA SYSTEMS UNITED MERCHANTS & MNFRS INC. ZIM-AMERICAN ISRAELI SHIPPING CO. AKTIS CORP. BENATI USA INC. BENETTON COS. BERETTA USA CORP. COMPO INDUSTRIES INC. DAVID ’SYSTEMS INC. LEXINGTON NEWINGTON KY CT TX NC NJ NJ GA CA NY CA PA TN FL FL WI PA GA PA MN PA TN VA CA CO MD CA HI CA LA CA NY HI CA HI CA GA IL CA NY CA CA IL NY NY CA NY NC MA NY VA CA MD NY MD MA CA 0752 2891 4511 2297 3573 2821 xxxx 8059 2342 3693 2869 2095 4469 5621 3531 3811 3621 3641 5083 5093 5063 xxxx 5084 1311 8911 7011 5621 7391 5631 5631 60 5812 7011 2791 4712 61 6162 701,1 HAGOPIAN, ERIKA HENKEL FAMILY WEST GERMANY, GOVT OF FREUDENBERG FAMILY BAYER AG BAYER AG RUTHER, RUDOLPH W. FLICK, FRIEDRICH SPIESSHOFER, GUNTHER SIEMENS AG FLICK, FRIEDRICH K. PROBAT-WERKE VON GIMBORN GMBH REEDEREI EUGEN FRIEDRICH SANDERS, JILL SCHMIDT, ALFRED LINDE AG SIEMENS AG JK-JOSEPH KRATZ HANS GIESBERT CO. ELG HANIEL GMBH TOP SUN LAUTERBACH INC. LEHNDORFF VOSS ELECTRONIC GAENSEL, HELMUT GEA LUFTKUEHLERGESELLSCHAFI GBMH REGENT INTERNATIONAL HOTELS GA PACIFIC GROUP SING-TOA NEWSPAPERS LTD. ESPRIT DE CORP. FAR EAST ESPRIT DE CORP. FAR EAST HONG KONG AND SHANGHAI BANK JARDINE MATHESON HOLDINGS HVHI-ANZA CORBRIDGE CO. LTD. SANTA FE TRANSPORT INTERNATIONAL HONG KONG AND SHANGHAI BANK HONG KONG AND SHANGHAI BANKING CORP. AYALA CORP. KING FOOK SEARCH INTNTL SEARCH INTNTL HONG KONG AND SHANGHAI BANK SAMBAND ISLENZKRA SAMVINNUFELAGA BANK CENTRAL ASIA PT RAMA FAMILY INDIA, GOVT OF LIBERMANN, MANUEL SCITEX CORP. LTD RUSKIN, UZI ISRAEL, GOVT OF ITALY, GOVT OF BENATI SPA BENETTON SPA FABBRICA D'ARMI PIETRO BERETTA SPA GEMINA SPA PIRELLI SPA AM AM OT PE El NP RE AM AM AM AM OT OT OT NP AM El OT OT AM OT RE NP AM AM AM AM AM OT OT AM AM OT AM OT OT OT RE RE RE OT AM OT OT AM OT NP AM AM OT AM OT OT PE AM AM NORTHVALE LAWRENCEVILLE WALTHAM CORTLAND SAN FERNANDO BRISTOL MEMPHIS ATLANTA YORK WILLMAR PITTSBURGH CHATTANOOGA McLEAN SANTA ANA DENVER COLUMBIA BEVERLY HILLS NEW YORK OAHU BURLINGAME HONOLULU OAKLAND ATLANTA CHICAGO LOS ANGELES NEW YORK SAN FRANCISCO LOS ANGELES CHICAGO NEW YORK SAN BERNARDIN HOPKINTON NEW YORK BOWIE ACCOKEEK WALTHAM SUNNYVALE - 89 - XXXX xxxx 6552 60 4411 60 7011 4411 3585 7391 2221 4411 3841 5082 5641 3482 2295 3573 VALUE 3.0 79.0 22.0 49.2 1.0 146.0 8.5 125.0 10.0 6.4 22.0 0.5 40.0 4.1 5.0 2.5 2.0 1985 FOREIGN INVESTMENTS COMPLETED TRANSACTIONS NA US FIRM NAME LOCATION TS SIC FOREIGN INVESTOR TY VALUE IT IT IT IT IT IT IT IT IT IT IT IT IT IT IT IT IT IT JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA .JA JA JA JA JA JA JA JA .JA -JA JA JA JA DOCUTEL/OLIVETTI CORP. ENICHEM USA/AGIP USA INC. ENICHEM USA/AGIP USA INC. ENICHEM USA/AGIP USA INC. ENICHEM USA/AGIP USA INC. ENICHEM USA/AGIP USA INC. FIAT ALLIS INC. GULF OF MEXICO LEASE (1) GULF OF MEXICO OIL/GAS LEASES IVECO TRUCKS OF NO. AMERICA MED AMERICA EXPRESS SERVICE MISSISSIPPI RIVER ALCOHOL CO. MODERN TROPICS HOTEL OLIVETTI RIZZOLI BOOK STORE SILHOUETTE OPTICAL STRATUS COMPUTER INC. VITTORIO RICCI II ALCOA CONDUCTOR ACCESSORIES INC. ALERCO AND HAYWARD STEEL INC. ALERCO MANUFACTURING CO. AMERICAN TOKYO KASEI CO. AMERICAN TRI-NET EXPRESS INC. AP TECHNOLOGIES CORP. APPLE COMPUTER INCfS PLANT ARCO,S OIL LEASES (6) ARMCO INC. - C. ITOH & CO. LTD. ASHISUTO KK ATARI GAMES1 COIN-OP. DIV. BARUDAN AMERICA INC BELGRAVIA CONDOMINIUM BELLETECH BENIHANA NATIONAL CORP. BERWICK STEEL CORP BLEIM STEEL CO. BRICKELL STATION TOWERS BRIDGESTONE SPORTS CO. BURLINGTON BUSINESS CENTER I BUSINESS PARK C & M FINE PACK INC. C. ITOH STEEL INC. CALSONIC INC. CHARLES ALFIERI INC. CITADEL CORP. CKR INDUSTRIES COMMERCIAL BLDGS COMMERCIAL BLDGS (4) CONDOMINIUM CONDOMINIUM CROWNE PLAZA HOTEL DAIWA SECURITIES (SEARS TOWER) DIAMOND STAR MOTOR CORP. DIGITAL AUDIO DISK CORP. DISK PRODUCTS DIV. DUPONT, El DENEMOURS1 COATING PLANT DYR PUBLIC AFFAIRS INC. IRVING TX CA MI OH TX NY IL AL LA PA NY LA HI NY MA NJ MA NY SC CA CA OR CA OH CA CA OH CA CA NC NY OH FL OH OH FL GA MA TX CA KY AZ NY GA TN CA TX HI NY FL IL IL IN CA IL NY 3573 5161 5161 5161 5161 5161 3531 1311 1311 5012 4411 2869 7011 5081 5942 5086 3573 5611 3357 3312 3312 5161 4511 3211 3573 1311 3312 7372 3999 5084 xxxx 3211 5812 5051 5051 xxxx 5941 xxxx xxxx 3079 5051 3714 3999 1541 3069 xxxx xxxx xxxx xxxx 7011 6211 3711 3651 5065 2821 7392 DEBENEDETTI FAMILY ITALY, GOVT OF ITALY, GOVT. OF ITALY, GOVT OF ITALY, GOVT. OF ITALY, GOVT. OF AGNELLI FAMILY ITALY, GOVT OF ITALY, GOVT. OF IFI INSTITUTO FINANZIARO IND. ITALY, GOVT OF FERRUZZI FAMILY HAKIM, OMAR EL DE BENEDETTI FAMILY RIZZOLI EDITORE/EDIPRESSE SCHMIED, ARNOLD DEBENEDETTI FAMILY RICCI, VITTORIO FUJIKURA LTD. KAWASAKI STEEL CORP. KAWASAKI STEEL CORP. TOKYO KASEI KOGO CO. LTD. MITSUI & CO. LTD. ASAHI GLASS CO. LTD. ALPS ELECTRIC CO. LTD. IDEMITSU KOSAN CO. LTD C. ITOH & CO. LTD. ASHISUTO KK NAMCO LTD BARUDAN CO. LTD. HASEGOWA KOMUTEN CO. LTD. ASAHI GLASS CO. LTD AOKI, ROCKY H. NISSHO IWAI CORP. MARUBENI CORP. JAPAN DEV. AND CONSTR. CO. LTD BRIDGESTONE SPORTS CO. LTD SUMITOMO LIFE INS. CO. KAJIMA CORP. ET AL MITSUBISHI CORP. C. ITOH & CO. LTD. NISSAN MOTOR CO. LTD. ADERANS CO. LTD. OHBAYASHI CORP. KINUGAWA RUBBER INDUSTRIAL CO. LTD. FUJITA CORP. AOKI CONSTRUCTION CO. LTD. SAKAE KOMUTEN CO. LTD. HASEGAWA KOMUTEN CO. LTD. AOKI CORP. DAIWA SECURITIES MITSUBISHI HEAVY INDS. LTD SONY CORP. TOSHIBA CORP. DAINIPPON INK $ CHEMICALS INC. KYODO NEWS SEVRICE El OT OT OT OT OT El AM AM OT OT NP AM OT OT OT AM OT JV OT AM OT OT NP AM AM JV OT AM OT RE NP 20.0 NEW YORK WHEATON NEW YORK MRYTHE GR HONOLULU NEW YORK MARLBOROUGH UNION CITY LOS ANGELES CUPERTINO SUNNYVALE GREENSBORO NEW YORK MIAMI COLUMBUS TOLEDO MIAMI BURLINGTON DALLAS NEW YORK DE KALB WINCHESTER ENCINO DALLAS NEW YORK ORLANDO CHICAGO BLOOMINGTON-N TERRE HAUTE TUSTIN - 90 - AM AM RE OT RE RE NP OT NP AM OT JV RE RE RE RE RE OT JV El OT AM JV 10 !7 12.5 2.0 6!o 8.6 28.0 11*0 10.0 5.0 4.0 21 .0 4o !o 80.0 14.0 2.0 42.0 0.4 30.0 289.0 3^0 1985 FOREIGN INVESTMENTS COMPLETED TRANSACTIONS NA US FIRM NAME LOCATION TS SIC FOREIGN INVESTOR TY JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA ,JA JA JA JA JA JA JA JA ,JA -JA JA JA JA ELECTRO-PLASMA INC. ENKEI AMERICA INC. ENVIRON EPSON PORTLAND ERC UNIZAK CORP. ESSEX HOUSE HOTEL FANUC USA CORP FORWARD TECHNOLOGY INC. FOTOMAT CORP. FUJI KIKAI SEISAKUSHO FUJI PHOTO FILM HAWAII INC. FUJITSU AMERICA INC. FUSO TRUCKS OF AMERICA GASLIGHT CLUB OF HURON, THE GEO-CON INC. GMF ROBOTICS CORP. GRANT GOLD MINE HALEKULANI MAUKA HAMAI MACHINE TOOLS OF AMERICA HARRIS CORPfS SWITCHING REGULATORS UNIT HINO DIESEL TRUCKS (USA) INC. HISHI PLASTICS USA INC. HITACHI AUTOMOTIVE PRDTS (USA) INC. HITACHI CHEMICAL CO. HOKURIKU/ULTECH HOKUSUI AMERICA HONDA OF AMERICA MFG HORIBA INSTRUMENTS INC. HORISON RESEARCH INC. HOSHIZAKI AMERICA INC. HOSOKOWA MICRON (USA) INC. HOTEL NIKKO HOTEL NIKKO HOTEL/OFFICE COMPLEX HOTEL/OFFICE COMPLEX HOYA CRYSTAL GALLERY ICON SYSTEMS & SOFTWARE INDUSTRIAL PARK INDUSTRIAL PARK INTERNATIONAL FUEL CELLS CORP. INTL BUSINESS INFORMATION INC. ISUZU TRUCKS OF AMERICA ITOGUMI USA CORP. JETRO K LINE K.G. CORP KANTA CORP. US KAWASAKI HEAVY INDUSTRIES KAWASAKI MOTORS CORP. USA KAWASAKI THERMAL SYSTEMS INC. KENTWOOD SPRING WATER INC. KERSHAW KNIVES KITZ CORP. OF AMERICA KOLTRON CORP. KOMAG INC. KOMATSU AMERICAN INDUSTRIES INC. IRVINE COLUMBUS OLNEY CA IN MD OR CA NY MA CA FL NC HI OR PA IL PA MI AK HI IL FL FL NJ KY GA IL NY OH CA MA GA NY IL CA CA CA NY UT CA CA CT CA KY OR GA CA HI TN NY CA WA LA OR TX CA CA IL 3499 3714 xxxx 3573 3811 7011 5084 3573 5946 5084 7395 3573 5013 5812 1629 3541 1041 7011 5084 3674 5013 2821 3621 3679 5063 5099 3714 7392 3573 3585 3564 7011 7011 7011 7011 7999 7391 xxxx xxxx 4911 7392 3711 8911 8611 4411 1542 3714 3743 5012 3498 5499 5072 5051 3679 3674 5082 NIPPON STEEL CORP. ENKEI GROUP/MITSUBISHI GROUP AOKI CONSTRUCTION CO. SHINSHU SEIKI CO. LTD. ERMA CO. LTD. JAPAN, GOV'T FANUC LTD. DIGITAL COMPUTER LTD. KONISHIROKU PHOTO IND. CO. LTD FUJI KIKAI SEISAKUSHO CO. LTD. FUJI PHOTO FLIM CO. LTD. FUJI ELECTRIC CO. LTD. MITSUBISHI HEAVY INDS. LTD. SUNTORY LTD. TAISEI CORP. FANUC LTD. MARUBENI CORP. MITSUI REAL ESTATE DEV. CO. LTD. HAMAI CO. LTD. TAKAHASHI FAMILY HINO MOTORS LTD/MITSUI & CO. MITSUBISHI CHEMICAL INDS. LTD. HITACHI LTD HITACHI LTD. HOKURIKU ELECTRIC IND. CO. LTD. HOKUSUI HONDA MOTOR CO. LTD HORIBA LTD. MITSUBISHI ELECTRIC CORP. HOSHIZAKI ELECTRIC CO. LTD. HOSOKOWA INTL INC. JAPAN AIR LINES JAPAN AIR LINES TAISEI CORP. KAJIMA CORP. HOYA CORP. SANYO ELECTRIC CO. LTD. MITSUI REAL ESTATE DEV. CO. SHUWA CORP. TOSHIBA CORP. INTL BUSINESS ISUZU MOTOR CO. LTD ITOGUMI CO. LTD. JAPAN EXTERNAL TRADE ORG. (JETRO) KAWASAKI KISEN KAISHA LTD. KUMAGAI GUMI CO. LTD. TOYOTA MOTOR CO. LTD KAWASAKI HEAVY INDS. LTD. KAWASAKI HEAVY INDS. LTD. KAWASAKI STEEL CORP. SUNTORY LTD. KAI CUTLERY CO. LTD KITAZAWA VALVE CO. LTD. NIPPON MINING CO. LTD. MARUBENI CORP. ET AL KOMATSU LTD. AM NP RE NP JV AM OT AM El OT OT NP OT AM AM NP OT RE OT AM OT AM NP NP JV OT NP OT OT OT OT RE OT AM RE NP AM RE RE JV OT NP NP OT OT OT NP NP OT AM AM OT OT AM AM OT NEW YORK FRAMINGHAM SAN JOSE CHARLOTTE PITTSBURGH HONOLULU CHICAGO HIALEAH SKOKIE MARYSVILLE WALTHAM PEACHTREE CTY NEW YORK CHICAGO SAN FRANCISCO LONG BEACH LONG BEACH NEW YORK OREM VISTA CORONA S. WINDSOR MOUNTAIN VIEW PORTLAND HONOLULU IRVINE NEW ORLEANS WILSONVILLE HOUSTON SUNNYVALE MILPITAS CHICAGO - 91 - VALUE 10.0 io!o 2!o 10.0 39! 5 1 !o 1 .1 16.0 12^7 2.4 3.5 13.0 4o !o 3.8 35.0 62.5 225.0 s!o 18.6 4.0 2^0 12!o 1. ’o 4.7 1985 FOREIGN INVESTMENTS COMPLETED TRANSACTIONS NA US FIRM NAME LOCATION TS SIC FOREIGN INVESTOR TY JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA .JA .JA JA JA JA KRESSER-CRAIG KUX MANUFACTURING CO. KYOCERA INTL INC. LAHAINA CANNERY SHOP. CTR LAND LAND (20,000 ACRES) LANDMARK BLDG. LIFE TECHNOLOGIES1 INVENEX LABS DIV LS ELECTRO GALVANIZING CO MAKA USA MAKANI KAI HOTEL MARUHACHI CERAMICS OF AMERICA MATSUSHITA COMM. CORP. OF AMERICA MAZDA MOTOR MFG. USA MAZDA MOTORS OF AMERICA (CENTRAL) MCL CO - FUNK FINECAST MEIKO KAIUN KAISHA LTD. MEIKO KAIUN KAISHA LTD. MIDREX CORP. MITSUBISHI ELECTRIC CORP. MITSUBISHI ENGINES NORTH AMERICA MITSUBISHI PAPER MILLS LTD. MITSUBISHI WAREHOUSE & TRANSPORT. CO. MITSUBISHI WAREHOUSE & TRANSPORT. CO. MITSUBISHI-GE-WESTINGHOUSE JV MITSUI OSK LINES-LINES EAST ASIATIC CO. MIZUNO GOLF CO. MOL INTERMODAL INC. MOL USA INC. MORI SEIKI CO. MORINAGA NUTRITIONAL FOODS INC. MULTI-USE DEVELOPMENT MURATA ERIE NORTH AMERICA INC. MURRAY WESTERN FOODS INC. NBK CORP. NEC AMERICA INC. NEC AMERICA INC. NEC CORP NEC HOME ELECTRONICS CORP. NEW HAMPSHIRE BALL BEARINGS INC. NEW HAMPSHIRE BALL BEARINGS INC. NIKKO COMMUNICATIONS USA NIKKO SECURITIES CO. NIKON INC. NIPPON CARGO AIRLINES NIPPON COMPUTER SCIENCE CO. NIPPON SHEET GLASS NIPPON STEEL CORP. NIPPONDENSO CO. NISSAN KIZAI NICE INC. NISSIN FOODS (USA) CO. INC. NPK CONSTRUCTION EQUIP. INC. NTN BOWER CORP. NYK LINE OFFICE BLDG OFFICE BLDG LOS ANGELES DETROIT CA MI WA HI HI CO CA FL OH MO HI CA IL MI CA OH IL CA NC GA IL NY NY CA CT WA GA IL NY TX CA TX GA CA CA NY OR CA GA NH NH CA IL CA NY WA NJ MA 7311 2751 3674 xxxx xxxx xxxx xxxx 2831 3312 5081 7011 3259 3662 3711 5012 3324 4225 4225 7391 3661 5088 5113 4225 4225 3641 4411 3949 4411 4411 3541 2026 xxxx 3675 5812 3674 3661 3662 3679 3651 3562 3562 8911 6211 5043 4511 7392 3211 3312 3585 5084 2098 5084 3562 4011 xxxx xxxx DAI-ICHI-KIKA-KU MITSUBISHI CORP. INAMORI, KAZUO OMORI9 MASAO SHELL ENTERPRISE CO. LTD. NISSAN MOTOR CO. LTD. MITSUI R.E. DEV. CO. LTD. FUJISAWA PHARMACEUTICAL CORP. SUMITOMO METAL INDUSTRIES LTD. MAKA JAPAN INDIVIDUAL INVESTORS MARUHACHI LTD. MATSUSHITA ELECTRIC IND. CO. LTD. MAZDA MOTOR CO. LTD. MAZDA MOTORS CO. LTD. MCL CO. LTD. MEIKO KAIUN KAISHA LTD. MEIKO KAIUN KAISHA LTD. KOBE STEEL LTD. MITSUBISHI ELECTRIC CORP. MITSUBISHI HEAVY INDUSTRIES LTD. MITSUBISHI PAPER MILLS LTD. MITSUBISHI WAREHOUSE & TRANSPORT. CO. LT MITSUBISHI WAREHOUSE & TRANSPORT. CO. LT MITSUBISHI ELECTRIC CORP. MITSUI OSK LINES LTD. MIZUNO CORP MITSUI OSK LINES LTD. NITSUI OSK LINES LTD. NICHIMO CO. LTD. MORINAGA MILK INDUSTRY CO. LTD. AOKI CORP. MURATA MFG. CO. LTD. KYOTARU CO. LTD. KAWASAKI STEEL CORP. NEC CORP. NIPPON ELECTRIC CO. LTD. NIPPON ELECTRIC CO. LTD. NIPPON ELECTRIC CO. LTD. TAKAHASHI FAMILY TAKAHASHI FAMILY NIKKO BIJUTSU CO. LTD. NIKKO SECURITIES NIPPON KOGAKU KK ALL NIPPON AIRWAYS CO. LTD. NIPPON COMPUTER SCIENCE CO. LTD. NIPPON SHEET GLASS CO. LTD. NIPPON STEEL CORP. TOYOTA MOTOR CORP. NISSHO IWAI CORP. NISSIN FOOD PRODUCTS CO. LTD. NIPPON PNEUMATIC MFG. CO. LTD. NTN TOYO BEARING CO. LTD. NYK LINE SUMITOMO REALTY AND DEV. CO. SHIMIZU CONSTRUCTION CO. LTD. AM AM NP RE RE RE RE AM JV OT AM NP PE NP OT JV OT OT OT NP OT OT OT OT JV OT NP OT OT NP OT RE OT AM AM OT NP PE NP AM PE NP OT OT OT OT NP OT NP OT PE OT JV OT RE RE HONOLULU DOUGLAS CO LOS ANGELES JEFFERSON CTY HONOLULU FLAT ROCK IRVINE CHICAGO CHICAGO NEW YORK FAIRFIELD TACOMA NOCROSS NEW YORK LOS ANGELES DALLAS MARIETTA TORRANCE SANTA CLARA MELVILLE PETERBOROUGH CHICAGO LOS ANGELES NEW YORK CHICAGO LANCASTER CLEVELAND IL PA OH AL CA NY AZ NEW YORK PHOENIX - 92 - VALUE . 10.0 12.0 3.0 . 7.4 10.0 50.0 2.5 5.1 . 337.5 11 .2 2.2 . . . 19.0 . . . . . , . , . 8.0 . 50.0 . 5.2 9.4 . 67.0 25.0 16.3 100.3 . . . 10.0 . . . 42.0 . . 54.0 . 35.0 25.0 1985 FOREIGN INVESTMENTS COMPLETED TRANSACTIONS NA US FIRM NAME LOCATION TS SIC FOREIGN INVESTOR TY VALUE JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA JA OFFICE BLDG OFFICE BLDG. OFFICE BLDGS OIL WELL OKUMA MACHINERY INC. OMEGA TUBE & CONDUIT CORP. OVERSEAS TRANSPORT SERVICES CO. OXFORD WIRE & CABLE SERVICES PAYLESS DRUG STORES STORES' PHOTO FINISH PENTAX TEKNOLOGIES INC. PHONE-MATE INC. PLASMON DATA SYSTEMS INC. PMP POLYTRIBO INC. PURE AIR RCA-SHARP MICROELECTRONICS INC. RED ROBBIN INTL INC. RESIDENTAL DEVELOPMENT RESIDENTAL DEVELOPMENT RICOH ELECTRONICS INC. RYDELL LABS/LION CORP. S.A.T. SEIKO OPTICAL PRODUCTS SEKISUI CHEMICAL CO. SHARP ELECTRONICS CORP. SHELLER-RIYOBI CORP. SHERATON HOTEL SHIMIZU AMERICA CORP. SHISEIDO COSMETICS AMERICA LTD. SHOEI FOODS (USA) INC. SHOWA ALUMINUM CORP. SMC PNEUMATIC INC. SPECTRUM CAPITAL SRA SOFTWARE RESEARCH ASSOC. STANLEY-KBK LIAISON OFFICE SUMICO DEVELOPMENT CO. LTD SUMITEC INC. SUMITOMO ELECTRIC INTERCONNECT PRDTS TAKEDA RIKEN AMERICA INC. TANAKA KOGYO (USA) CO. LTD. TEIKOKU CHROMIUM PLATING CO. TESEC CORP. THE TOKYO SECURITIES CO., LTD. THINSHEET METALS CO. INC. THREE BOND OF AMERICA INC. TOKYO AIR CARGO CUSTOMS CO. LTD. TOKYO GAS CO. LTD. TOPY INDUSTRIES TOSHIBA AMERICA INC. TOSHIBA CORP. TOSHIBA WESTINGHOUSE ELECTRONICS CORP. TREA INDUSTRIES UNIVANCE o u t p l a c e m e n t c o n s u l t a n t s VAXON INC. VICKSMETAL CORP. VSI CORP DALLAS SEATTLE ORANGE CO. TX WA CA CA NY AR CA MS OR CO CA NJ IL PA PA WA WA CA CA CA WI WA NJ MA NJ OH FL OR NY OR NY IN NY NY MI TX MI CA NJ WA CA CT NY CT IL NY NY KY CA CA NY RI CA CA MS CA xxxx xxxx xxxx 1311 5084 3317 4712 3315 5946 5084 3661 3573 2082 5161 3541 3674 5812 xxxx xxxx 2641 5122 4411 5094 2821 3651 3361 7011 1541 5122 5143 5051 3822 6159 7374 5013 1521 3443 5065 5063 5084 3471 3674 62 3351 5161 4511 4923 3465 5063 3662 3672 3079 7361 7372 5051 3544 SUMITOMO CONSTRUCTION CO. LTD C. ITOH 8 CO. LTD. TOBISHIMA CORP. IDEMITSU KOSAN CO. LTD. OKUMA MACHINERY WORKS LTD. SUMITOMO METAL INDUSTRIES CO. LTD MARUBENI CORP. HITACHI CABLE LTD. KONISHIROKU PHOTO CO. LTD. ASAHI OPTICAL CO. LTD. ASAHI CORP. KURARAY CO. LTD. FUIJISAWA PHARMACEUTICAL CO. FUJIKURA KASEI CO. LTD. MITSUBISHI HEAVY INDUSTRIES LTD. SHARP CORP. SKYLARD CO. LTD. TODO CONTRUCTION CO. LTD NAKANOGUMI CO. LTD. RICOH CO. LTD LION CORP. NIPPON EXPRESS CO. LTD. HATTORI SEIKO CO. LTD. SEKISUI CHEMICAL CO. LTD. SHARP CORP. RYOBI LTD. AOKI CORP. SHIMIZU CONSTRUCTION CO. LTD. SHISEIDO CO. LTD. SHOEI FAMILY SHOWA LIGHT METAL CO. SHOKETSU KINZOKU KOYGO CO. LTD. MITSUBISHI TRUST AND MITSUBISHI CORP. SOFTWARE RESEARCH ASSOC. INC. STANLEY ELECTRIC CO. LTD. SUMITOMO CONSTRUCTION CO. LTD SUMITOMO METAL INDUSTRIES LTD. SUMITOMO ELECTRIC INDUSTRIES LTD. TAKEDA RIKEN CO. LTD. TANAKA KIKINZOKU KOGYO KK TEIKOKU CHROMIUM PLATING CO. LTD. TESEC CORP. THE TOKYO SECURITES CO. LTD. NIPPON STEEL CORP. THREE BOND CO. LTD TOKYO AIR CARGO CUSTOMS CO. LTD. TOKYO GAS CO. LTD. TOPY INDUSTRIES LTD. TOSHIBA CORP. TOSHIBA CORP. TOSHIBA CORP. TORAY INDUSTRIES INC. TEMPORARY CENTER CORP. VACS CORP. SUMITOMO CORP. LTD. NIKKO SEIKO CO. LTD. RE RE RE OT OT NP OT NP AM OT El AM AM JV JV JV AM RE RE NP JV OT OT PE OT JV RE OT PE OT OT PE JV NP OT OT JV OT OT OT NP NP OT AM OT OT OT NP OT NP JV AM AM JV OT AM 2.0 6.0 60.0 HAUPPAUGE ENGLEWOOD TORRANCE HIGHTSTOWN PEORIA ALLENTOWN CAMAS SEATTLE LOS ANGELES CORONA RAHWAH TOLEDO ORLANDO TIGARD NEW YORK PORTLAND NEW YORK INDIANAPOLIS NEW YORK FT. CUSTER PK DALLAS BENTON HARBOR FREEMONT FT. LEE BOTHELL NEW YORK WATERBURY NEW YORK TUSTIN HORSEHEADS N. KINGSTOWN VICKSBURG PASADENA - 93 - 1 .*0 107 !8 14.0 8! 2 14.3 0 *0 37 !o 5.5 2 16 3!o 3 .*3 2o !o 26 !o 2.3 37.2 20.0 8.0 2.0 1 .3 1985 FOREIGN INVESTMENTS COMPLETED TRANSACTIONS NA US FIRM NAME LOCATION TS SIC FOREIGN INVESTOR TY VALUE JA JA JA JA JA JA JA JA JA JA JM KS KS KS KS KS KS KS KU KU LE LS LS NA NA NA NA NA NA NA NA NA NA NL NL NL NL NL NL NL NL NL NL .NL NL NL NL NL NL NL NL .NL -NL NL NL NL WAIKIKI BEACH HOTEL WATERFIELD CO. WESTERN STEEL & TINPLATE INC. WESTERN SUGAR CO. WESTPORT PETROLEUM WIRE SALES CO. Y-E DATA AMERICA INC. YAMAMOTO, KANSAI YAOHAN DEPT. STORE 150 E. 52ND ST. OFFICE BLDG CORONA DATA SYSTEMS GOLDSTAR OF AMERICA INC. HOPI TRIBAL HYUNDAI MOTORS AMERICA HYUNDAI STEEL INDS. INC. PANTHER CAR CO. OF NO. AMERICA STAR NAIL GEORGETOWN STEEL CO. KEYDRIL CO. PERKINS & WILL INC. BIL MANAGEMENT INC. MEDTECH INC. CONDOMINIUM CONTREX INC. CROWLEY MILNER & CO. LAND (40 ACRES) LAND (9.8 ACRES) OFFICE BLDG. PATRIOT BANCORPORATION SEA-BARGE SEILGMAN & LATZ INC. SPRAGUE METER ADH PROPERTIES INC. AKZO AMERICA INC. AKZO CHEMIE AKZO CHEMIE AMERICA ARCO REFINERY & ASSETS ASTRO-PACKAGING INC. ATLANTIC RICHFIELDS* SRV STATIONS (ARCO) BARRETT RESOURCES CORP. BREDDO FOOD PRODUCTS CORP. BULLWINKLE CLARITA *S COS. COAL GASIFICATION PLANT CORMIX INC. CRI VENTURES INC. CRUST BUSTER INC. DSM RESIN US INC. GORDON PUBLICATIONS INC. GULF OF MEXICO OIL/GAS LEASES (90) INDIANA INSURANCE GROUP JOSEPHSON BAR REVIEW CENTER OF AMERICA I KMI CONTINENTAL INC'S ASSETS LITTON BIONETICS INC. LOGIA ENERGY SYSTEMS HONOLULU HI CA CA CO CA IL GA NY CA NY OH CA AL AZ CA CA FL NY NC TX IL NY FL HI MA MI FL FL FL MA FL NY CT CT NC TX WI PA NJ CA CO KS LA VA TX GA TX KS GA NJ AL IN CA 7011 7372 3312 2063 5171 3315 5065 5621 5411 xxxx xxxx 3823 3589 2253 5012 3714 5012 7231 3312 1381 8911 628 3841 xxxx 3823 5311 INDIVIDUAL INVESTORS ASSIST CO. LTD. HIUKA SANGYO CO. LTD. TATE & LYLE PLC MITSUI & CO. LTD. 0 & K CO. LTD. YASKAWA ELECTRIC MFG CO. LTD. YAMAMOTO, KANSAI LTD. YAOHAN DEPT. STORE CO. LTD. KOWA REAL ESTATE INVESTMENT MACDONALD, JOHN DAEWOO GROUP CORP. LUCKY GROUP LTD. YOUNG AN HAT CO. HYUNDAI MOTOR CO. LTD HYUNDAI CO. LTD. JINDO GROUP MARIA & KIM CHOY KUWAIT, GOVT OF KUWAIT, GOVT OF DAR-AL-HANDASH BANK IN LIECHTENSTEIN EUROLENS LTD. BELMARIN INVESTMENTS NA SCHLUMBERGER FAMILY AMERICAN VALUES NV CASACA NV LUNEBERG CO. N.V. FAUSTINA CORP. FOX-PITT, KELTON NV MADURO GROUP TRANSCONTINENTAL SERVICES GROUP NV SCHLUMBERGER LTD. AZKO N.V. ET AL AKZO NL AKZO NV AKZO NV DEUSS, JOHN BUCHRMANN TETTERODE NV ROYAL DUTCH SHELL GROUP GIESKES, H.L.J.M. CENTRALE SUIKERMAATSCHAPPIJ NV ROYAL DUTCH SHELL GROUP VNU BV ROYAL DUTCH SHELL GROUP UNILEVER NV ROYAL DUTCH SHELL GROUP BELEGGINGSMAATSCHAPPIJ BV DSM NV ELSEVIER NDU NV ROYAL DUTCH SHELL GROUP NATIONALE-NEDERLANDEN NV KLUWER NV ROYAL DUTCH SHELL GROUP AKZO NV LOGICA BENELUX BV NEDERLAND AM OT JV OT OT AM OT OT OT RE RE AM NP NP OT NP PE OT El AM AM OT NP RE AM AM RE RE RE AM JV AM AM OT OT PE JV AM AM AM AM AM OT AM JV NP JV AM NP AM AM AM AM AM AM OT 50.3 DENVER CHICAGO NEW YORK NEW YORK CIMCINNATI THOUSANDS OAK WINSLOW GARDEN GROVE CHARLOTTE HOUSTON CHICAGO NEW YORK BILLERICA DETROIT DADE CO MIAMI LAUDERDALE BOSTON NEW YORK BRIDGEPORT HARTFORD ENKA JONESVILLE HAWTHORNE LOS ANGELES DENVER KANSAS CITY ARLINGTON SPEARVILLE MORRISTOWN INDIANAPOLIS CULVER CITY MD TX - 94 - XXXX xxxx xxxx 60 4411 5944 3824 6711 5161 2819 2046 2911 3079 5541 1311 2051 1311 7372 2999 2891 2819 3523 2899 2721 1311 6311 2731 1311 7391 7372 o !4 19o !o 2.8 8! 5 3.7 1 .5 0.5 1 .7 14.5 11 !l 420‘ .0 isoio 200’ .0 6^0 232 !l 1985 FOREIGN INVESTMENTS COMPLETED TRANSACTIONS NA US FIRM NAME NL NL NL NL NL NL NL NL NL NL NL NL NL NL NL NL NL NL NL NL NL NO NO NO NO NO NO NO NO NO NZ NZ NZ NZ NZ PK PM SA SA SA SA SA SA .SA SI SN SN SO SO SO SO .SO -SP SP SW SW MAPCO OIL & GAS COfS ASSETS MARATHON OIL CO*S PROPERTIES MORRISON MOLDED FIBERGLASS NATIONAL DISTILLERS* INDIANA INSURANCE NATIONAL STARCH & CHEMICALS CORP. NORDA INC. OFFICE BLDG OFFICE BLDG OFFICE BLDG. PECO INSTROMENT INC. PHASER SYSTEMS INC. PIXLEY-RICHARDS INC. PREMIX/EMS SHELL OIL CO. SHELL POLYMER & CATALYSTS ENT. (SPACE) TRANS POTOMAC CENTER WALLACE OIL CO*S SRVS STATIONS WARNER LAMBERTS* DIAGNOSTIC DIV. 150 E. 85TH ST. 200 GALLERIA 888 BOULEVARD OF THE ARTS AVITAS AZCON PLANT CEMSTAR GEARBULK CONTAINER SERVICES HERCULES COMMERCIAL EXPLOSIVE DIV. KONGSBERG DRESSER POWER INC. KOOMEY INC. STAR SHIPPING (USWC) INC. WESTNOFA USA INC. HIGBEE CO., THE HORTEX CO. NORTHWESTERN STATE PORLAND CEMENT CO. PAWTUXET VALLEY DAILY TIMES STANGENWALD BLDG AIRPORT INN NORSUL OIL & MINING LTD. ARABIAN SHIELD DEVELOPMENT CO. PACKARD BLDG. QUICK TRIP STORES SALT LAKE SHERATON TEXAS COMMERCIAL BLDG TRIAD HOSPIOTALITY GROUP WOODS PETROLEUM CORP. SOMALIA INVESTMENT PROMOTION SERVICE EQUITABLE AIRPORT CENTER WEST END PLAZA ADOBE RESOURCES CORP. CARLIN GOLD MINING CO. CHENIERE PETROLEUM CORP. DECAIR CORP. HIGH PLAINS OIL CO. MANUEL HERRERO TRASATLANTICA AGENCY (USA) AGL TRANSATLANTIC - CISERV ASEA HAFO INC. LOCATION BRYSTOL INDIANAPOLIS KANSAS CITY E. HANOVER ATLANTA CARSON BOSTON MINERAL WELLS SAN FRANCISCO PLYMOUTH LANCASTER HOUSTON HOUSTON ALEXANDRIA NEW YORK ATLANTA SARASOTA ROCKWOOD SEATTLE WILMINGTON HOUSTON HOUSTON NILES CLEVELAND MASON CITY WEST WARWICK HONOLULU SALT LAKE CTY ALBANY DALLAS PHILADELPHIA SALT LAKE CTY HOUSTON SALT LAKE CTY OKLAHOMA CITY NEW YORK LOS ANGELES ATLANTA NEW YORK HOUSTON SPRING VALLEY DENVER NEW YORK - TS SIC FOREIGN INVESTOR TY CA VA IN MO NJ GA CA MA TX CA MA OH TX TX VA GA NJ NY GA FL VA TN PA WA DE TX TX IL IL OH SC IA RI HI UT GA TX PA IA UT TX UT OK NY CA GA NY NV TX NY CO NY NY CA CA 1311 1311 3079 6311 2046 2899 xxxx xxxx xxxx 3511 7372 3079 3079 1311 7391 xxxx 5541 3841 xxxx xxxx xxxx 7392 5083 4463 4411 2892 3511 5084 4411 5021 5311 0175 3241 2711 xxxx 7011 1311 1311 xxxx 5411 7011 xxxx 7011 1311 9611 xxxx xxxx 1311 1041 1311 7699 1311 5631 4411 4411 3674 ROYAL DUTCH SHELL GROUP ROYAL DUTCH SHELL GROUP ROYAL DUTCH SHELL GROUP NATIONALE-NEDERLANDEN NV UNILEVER NV UNILEVER NV AKZO N.V. ET AL NORO GROUP KLUWER NV INSTROMENT INTL AEGON NV DSM-DUTCH STATE MINES ROYAL DUTCH SHELL GROUP ROYAL DUTCH SHELL GROUP ROYAL DUTCH SHELL GROUP PENSION FUND ET AL ROYAL DUTCH SHELL GROUP AKZO NV EPURIO, NV PGGM PGGM DET NORSKE VERITAS NORCEM A/S TORVALD KLAVNESS & CO. AS GEARBULK LTD. DYNO INDUSTRIES AS KONGSBERG VAAPENFABRIKK A/S SKEIE GROUP STAR SHIPPING A/S WESTNOFA LTD A/S BRIERLEY, RON INTL HORTICULTURAL ENTERPRISES LTD. BRIERLEY INVESTMENTS LTD. INDEPENDENT NEWSPAPERS LTD. ROBERT JONES INVESTMENTS LTD. CHAUDRY FAMILY PANAFRUIT OVERSEAS INC. IBN ABDUL, KHALED IBN ABDULLAH ARABIAN INVEST. BANKING CO. SIX SAUDI ARABIANS KHASHOGGI, ESSAM RAHA ONE LTD. KHASHOGGI, ESSAM HARIRI, RAFIK SOMALIA, GOVT OF UNITED INDUSTRIAL CORP. LTD. TOH, A .C . ET AL OPPENHEIMER, HARRY F. & FAMILY OPPENHEIMER, HARRY F. & FAMILY OPPENHEIMER, HARRY F. & FAMILY HERSOV, RONALD OPPENHEIMER, HARRY F. & FAMILY MANUEL HERRERO SPAIN, GOVT OF TRANSATLANTIC SHIP MANAGEMENT WALLENBERG FAMILY AM AM AM AM NP AM RE RE RE JV AM AM AM El NP RE AM AM RE RE RE JV AM OT OT AM JV AM OT OT El NP AM AM RE AM AM El RE AM AM 95 - OT AM OT RE RE AM OT AM AM OT OT OT NP VALUE 105 0 5 5 1 0 700 0 90 0 60 0 3 5 3 0 0 3 5 0 4 0 20 1 50 250 0 0 0 0 45 3 70 0 110 0 33 9 42 9 0 2 1985 FOREIGN INVESTMENTS COMPLETED TRANSACTIONS NA US FIRM NAME SW SW SW SW SW SW SW SW SW SW SW SW SW SW SW SW SW SW SW SW SZ SZ SZ SZ SZ SZ SZ SZ SZ SZ SZ SZ SZ SZ SZ SZ SZ SZ SZ SZ SZ SZ SZ .SZ SZ SZ SZ SZ SZ SZ SZ ,sz •SZ SZ SZ SZ BEN HILL READY MIXED CONCRETE BOLIDEN STEELTRADE INC. BOORUM & PEASE CO. ERICSSON LIGHTWAVE CABLE GREAT WESTERN SUGAR*S BEET SEED DIV. GUIDED WAVE INC. IKEA IKEA IKEA IMRE CORP. NORTH AMERICAN BEARINGS DIV. PARAMETERICS DIV. SAAB-SCANIA OF AMERICA SCANAMERICA LINES SDS BIOTECH CORP. STREPTOCOCCUS LAB SVECIA USA VANCE CORP. VERTAC CORP. VICTOR TECHNOLOGIES INC. AMERICAN OPTICALS CORP*S CONTACT LENS DI AVM CORP *S AUTOMOTIVE PRODUCTS DIV. BALLY INC. BENGAL OIL & GAS CORP. BOXAL INC. CARNATION CO. CIBA CORNING DIAGNOSTICS CORP. CIBA-CEIGY CORP. CIBA-GEIGY CORP. CIBA-GEIGY CORP. DELTA AMERICAN INSURANCE CO. DUNDEE CEMENT CO. DYNEER CORP. G.E. BLDG. GRALY RESOURCES INC. HILLS BROS. COFFEE INC. HOFFMANN LAROCHE INC. INTL AMERICAN CERAMICS INC. IPCO CORP*S PLASMAPHERESIS CENTERS JACOBS COFFEE CO. KERN INVESTMENTS INC. LISTA INTERNATIONAL CORP. LONE STAR INDS. HAGERSTOWN CEMENT PLANT M.J.B. CO. MASTER BUILDERS MEDITERRANEAN SHIPPING CO. MULTIMATIC INTL INC. PANEL-AIR CORP. POSSIS CORP*S MOTOR DIV. SANTEE PORTLAND CEMENT CO. SPECTRA-PHYSICS INC. STOUFFER CONCOURSE HOTEL STOUFFERS FROZEN FOOD SWISS-AMERICAN SPAWN INC. THE PARK AT DEERWOOD W. F. HALL PRINTING CO. LOCATION STAMFORD ELIZABETH LONGMONT SACRAMENTO PHILADELPHIA SEATTLE LOWER FALLS TS SIC FOREIGN INVESTOR TY VALUE GA CT NJ MO CO CA PA VA DE WA 3241 5051 2782 3357 2063 7391 5713 5712 5021 3829 3562 3622 5013 4411 2873 2048 3551 6711 2875 3573 3851 3714 5661 1311 3411 2023 3841 2834 2851 2879 6311 3241 3714 VOLVO AB BOLIDEN AG ESSELTE AB TELEFON AB L.M. ERICSSON CARDO AB PERSTORP AB KAMPRAD, INGVAR KAMPRAD, INGVAR KAMPRAD, INGVAR SKANDIGEN AB SKF AB WALLENBERG FAMILY SAAB-SCANIA AB GORTHON LINES FERMENTA AB BONNIERFORETAGEN AB SVECIA SILKSCREEN MASKINER AB SKANSKA INC. ET AL FERMENTA AB DATATRONICS AB CIBA-GEIGY AG ALUSISSE (SWISS ALUMINUM CORP.) BALLY AROLA AG ANGLO-SWISS ENERGY SA ALUMINIUM SUISSE SA NESTLE SA CIBA-GIEGY AG CIBA-GEIGY AG CIBA-GEIGY AG CIBA-GIEGY AG SWISS REINSURANCE CO. HOLDERBANK FINANCIERE GLARIS UTC INTL AG UNIDENTIFIED INVESTORS COGERE SA NESTLE SA ROCHE/SAPAC GROUP KERAMIK HOLDING AG IMMUNO INTL AG JACOBS SUCHARD AG KERN & CO. AG LISTA AG HOLDERBANK FINANCE GLARIS NESTLE SA SANDOZ LTD MEDITERRANEAN SHIPPING CO. MULTIMATIC INTL CIBA-GEIGY AG BBC-BROWN BOVERI & CO. LTD HOLDERBANK FINANCIERE GLARIS CIBA-GIEGY AG NESTLE SA NESTLE SA E. HAUSER CHAMPIGNON LABORATORIUM BAITA INTNTL FUER PRESSEERZEUGNISSE AG AM OT AM PE AM AM OT OT OT AM OT AM OT OT AM JV OT AM AM AM AM AM PE El NP AM JV PE PE PE AM AM AM RE AM AM PE AM AM OT 2.4 . 23.0 . 4.3 . . . . 1 .0 . 12.0 . . . 1 .0 . . . 28.0 . 9.0 5.0 2.0 4.9 3000.0 . . MA GA NY OH IA CA WA TN CA NEW YORK PAINEVILLE DES MOINES SAN MARCOS SEATTLE SCOTTS VALLEY FARMINGTON JAMESTOWN NY NY TX NJ CA NY NJ MI NY NH MI CT FL CO CA NJ OK NY WI NY TX MD CA OH NY NH CA MN SC CA CO UT TX FL IL HOUSTON LOS ANGELES CORNING ARDSLEY CONCORD WEST PORT DAYTONA BEACH DENVER SAN FRANCISCO NUTLEY TULSA NEW YORK DELAVAN SAN FRANCISCO CLEVELAND AMHERST COSTA MESA GOLDEN VALLEY SAN JOSE DENVER MADISONVILLE JACKSONVILLE ITASCA - 96 - XXXX 1311 2095 2834 3253 2834 2095 3811 2522 3241 2095 2819 4411 5084 3469 3569 3241 3811 7011 2098 0182 xxxx 2721 NP AM AM AM OT OT AM AM AM AM RE NP JV RE AM . 6.3 . . . . . 35.0 . 6.5 1 .0 . 63.5 . 190.0 . . . 3.0 . 32.2 41 .0 100.0 . 4.6 112.5 1985 FOREIGN INVESTMENTS COMPLETED TRANSACTIONS US FIRM NAME LOCATION TS SIC FOREIGN INVESTOR TY TU TW TW UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK .UK UK UK UK UK UK UK UK .UK -UK UK UK UK REPCO INC. EVERGREEN MARINE CORP. K.P.T. CORP. ABEKAS VIDEO SYSTEMS INC. ADVANCED FUTURE COMPUTER INC. AFFILIATED HOSPITAL PRDTS. INC. ALFRED DUNHILL OF LONDON ALICANTE PRINCESS ALMAC ELECTRONICS AMERICAN PROPERTY GROUP APACHE RESOURCES LTD. APPLETON PAPERS INC. APRICOT INC. ASHLEY, LAURA ASPEN INDS. INC. ASPREY & CO. ASTON ELECTRONICS CASI) ATLANTIC CEMENT CO. INC. AUSTIN BIOLOGICAL LABS. BAE AUTOMATED SYSTEMS INC. BEATRICE CO'S AGRI. PRDTS DIV. BEATRICE COS* CHEMICAL DIV. BIOXIMETRY TECHNOLOGY INC. BLUE DEVIL INDS. BRITISH CALEDONIAN AIRWAYS BRITOIL US HOLDINGS INC. BRUSH FUSES INC. BURROUGHS WELLCOME CO. BUTTERFLY ENGINEERING CALIFORNIA CANADIAN'S ELEVEN BRANCHES CARILLON IMPORTERS LTD. CAROLINA BUILDERS CORP. CAROLINA FORMED FABRICS CORP. CHAPPARRAL RESOURCES-SAPPHIRE JV CHEYENNE'S AERO TECH SCHOOL CHRISTIE'S INTL CIRO INC. CLARKE CHECKS INC. COCOA EXCHANGE BLDG COHN COMMUNITIES CONRAN STORES INC. CONRAN'S CONSOWELD CORP. CORDURA CORP. COUNTY SANITATION INC. CROCKER NATIONAL BANK CROWN ZELLERBACH CORP. CULLEN & CASEY LTD. CUMBERLAND MALL DALE ELECTRONICS INC. DAVID JAMISON CARLYLE CORP. DENTAL LABORATORIES INC. DESERT PRINCESS DETROIT RACE COURSE DIAGNON CORP. DIESEL MARINE NORSHIP CO. ORLANDO FL OR IN CA NY MO NY CA WA NJ TX WI CA NY NY NY KS CT TX TX IL IL CO CA NY TX NJ NC PA CA NJ NC SC WY WY NY NY TX NY GA MA MD WI CA FL CA CA NY GA NE CA NY CA MI MD VA 3662 4411 3253 3662 3573 3841 5993 7011 5063 6552 1311 2621 5081 5999 2812 5094 5063 3241 2831 3535 2048 2879 3841 3589 4511 1311 3613 2834 5084 60 5182 5211 2392 1311 8249 7399 5944 2782 KOSTANTINIDIS, ANDIRYA EVERGREEN MARINE CORP. CHEM, HENRY TANGENT INDUSTRIES PLC UNITED KINGDOM, GOVT. OF SMITH & NEPHEW ASSOC. COS. PLC ROTHMANS INTL PLC P&O STEAM NAVIGATION CO. LEX SVC. PLC INSTITUTIONAL INVESTORS WETTREICH, DANIEL BAT INDUSTRIES PLC APPLIED COMPUTER TECH. (HLDGS) PLC ASHLEY, LAURA LaPORTE INDS. (HOLDINGS) PLC ASPREY & CO. PLC ASTON ELECTRONIC DESIGNS LTD. BLUE CIRCLE INDS. PLC FISON PLC BTR PLC TATE 8 LYLE PLC IMPERIAL CHEMICAL INDS PLC BOC INTL LAPORTE IND. (HOLDINGS) PLC CALEDONIAN AVIATION GROUP PLC UNITED KINGDOM, GOVT OF THE HAWKER SIDDELEY GROUP PLC WELLCOME FOUNDATION LTD. BUTTERFLY ENGINEERING LTD BARCLAYS BANK PLC GRAND METROPOLITAN LTD. WORSELEY-HUGHES PLC LOW & BONAR PLC SAPPHIRE PETROLEUM PLC BOC LTD. CHRISTIE INTL HOWARD & WYNDHAM PLC METAL BOX PLC LADBOOKE GROUP PLC C.H. BEAZER CONRAN, TERENCE CONRAN, TERENCE PILKINGTON BROTHERS PLC MONTAGU INVESTMENT MANAGEMENT LTD. ATTWOODS GROUP MIDLAND BANK PLC GOLDSMITH, JAMES GOOD RELATIONS GROUP PLC PENSION FUNDS GROUP MEZZANINE CAPITAL CORP. LTD. LEX SERVICE PLC W. CANNING PLC P & O STEAM NAVIGATION CO. LADBROKE GROUP PLC ROWLAND, DAVID 8 JAMES JERMEY TORDAY 8 CARLISLE PLC AM OT NP AM OT AM OT RE AM AM AM OT OT OT AM OT OT AM AM AM AM AM AM AM OT OT OT PE OT AM OT AM AM JV AM PE AM AM RE AM OT OT AM El AM El El AM RE AM El AM RE AM AM JV FOSTER CITY NEW YORK ST LOUIS NEW YORK ANAHEIM BELLEVUE ATLANTIC CITY KEMP APPLETON FREEMONT NEW YORK TULLY OLATHE STAMFORD AUSTIN CARROLLTON CHICAGO CHICAGO BOULDER CHATSWORTH HOUSTON EDISON RESCH TRI PK PITTSBURGH SAN FRANCISCO TEANECK RALEIGH GREENVILLE NEW YORK NEW YORK DALLAS NEW YORK ATLANTA WISC. RAPIDS LOS ANGELES PALM BEACH SAN FRANCISCO SAN FRANCISCO NEW YORK ATLANTA COLUMBUS LOS ANGELES PALM SPRINGS DETROIT LAUREL NORFOLK - 97 - XXXX 1521 5719 5719 2821 2741 4953 602 2621 7392 xxxx 3679 5081 3843 7011 7948 3842 3731 VALUE 6!o 58.0 43! 0 10! 0 0.7 1 .0 2.0 1 lo 108 !7 2.0 43! 0 750.0 3.2 2.6 O o NA 5! 8 13!o 570.0 0.2 72.5 0.2 2.5 300.0 13.0 2^0 1985 FOREIGN INVESTMENTS COMPLETED TRANSACTIONS NA US FIRM NAME LOCATION TS SIC FOREIGN INVESTOR TY VALUE UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK .UK UK UK UK UK UK UK UK .UK 4JK UK UK UK DURALITH CORP. EARLY CALIF. FOODS1 OLIVE UNIT EBERSTADT, F. & CO, INC. ELSON'S GROUP OF COS* ENGLISH ELECTRIC CO. EYELET SPECIALTY CO. F. EBERSTADT & CO. FELTON INTL INC. FRED S. JAMES & CO. GARST SEED CO. GEOLOGRAPH PIONEER INC. GEOSEARCH SEISMIC SURVEYS INC. GIBSON-HOMANS CO. GLAXO INC. GLAXO INC. GREAT WESTERN SUGAR CO'S PLANTS (6) GREY-MARK AT BRIDGEWATER GROVE PRESS GULF & MISSISSIPPI RAILROAD CORP. GULF OIL CORP'S ASSETS GULF RESOURCES & CHEMICAL CORP. HARDEE FOOD SYSTEM INC. HARDEE'S RESTAURANT HARDEE'S RESTAURANT HARDEES FOOD SYSTEM HINKLE EXPLORATION LTD'S ASSETS HOLLAND COLORS INC. HOUSTONIAN INC. HOWARD MARLBORO GROUP HUGHES INTERNATIONAL INC. HUNTINGDON ANALYTICAL SRVS IBCS (USA) INC. ICI AMERICAS INC. INDUSTRIAL FUELS CORP. INOTEK INTL CO. INSTIMET NETWORKS CORP. INTERFACE FLOORING SYSTEM INC. INTERLEUKIN-2 INC. INTERLOCHEN INTL PAINT/POWER COATINGS ITR PETROLEUM INC. JAMES HOWDEN JOHN LAING HOMES INC. KELDON OIL CO. KLEID CO. INC. KLEINWORTH BENSON CROSS FINANCING INC. LEED PETROLEUM CORP. LEINER P. NUTRITIONAL PRDTS. CORP. LEISURE TIME CHEMICAL CORP. LLOYDS BANK INT'L. LTD. LMS AMERICAN HOLDINGS LTV'S RSC ENERGY DIV'S ASSETS MANHATTAN TOWER MARATHON GOLD CORP. MARKET LINK CABLE PROJECT MARSCH'ALD CO. INC. MILLVILLE LOS ANGELES NEW YORK ATLANTA PORT CHESTER WALLINGFORD NEW YORK BROOKLYN HONOLULU COON RAPIDS OKLAHOMA CITY HOUSTON TWINSBURG DURHAM RES. TRI PARK DALLAS BRIDGEWATER NEW YORK NJ CA NY GA NY CT NY NY HI IA OK TX OH NC NC TX NJ NY MS LA TX MD WA MD MD TX IN TX NY MD NY CT NC MI OH NY GA VA GA TX TX CA CA ND NY CA CO CA CA CO TX OH NY CO DC NY 3613 2033 6211 5994 3662 3411 6211 2844 63 5191 7394 1382 2952 7392 2834 2063 xxxx 2731 4011 2911 1044 5812 5812 5812 5812 1311 2816 7299 7311 3499 7392 7331 2800 1211 2873 6211 3251 7391 xxxx 2851 1311 5063 1521 1382 7392 61 1311 2834 2899 60 1311 1311 xxxx 1041 4811 7311 LUCAS INDUSTRIES PLC UNITED BISCUITS (HOLDINGS) PLC ROBERT FLEMING HOLDINGS, LTD. SMITH, WH & SONS HOLDINGS PLC GENERAL ELECTRIC CO. PLC METAL BOX PLC ROBERT FLEMING HOLDING, LTD. HARRISON & CROSFIELD PLC DEDGWICH GROUP PLC IMPERIAL CHEMICAL INDUSTRIES PLC JOHN WOOD GROUP PLC SIMON ENGINEERING PLC FOSECO MINSEP PLC GLAXO HOLDINGS PLC GLAXO HOLDINGS PLC TATE & LYLE PLC. GREY COAT CITY OFFICES PLC WEIDENFELD, GEORGE ROTHSCHILD, JACOB UNITED KINGDOM, GOVT. OF BARCLAY, DAVID & FREDERICK BAT INDUSTRIES PLC BAT INDUSTRIES PLC BAT INDUSTRIES PLC BAT INDUSTRIES PLC UNITED KINGDOM, GOVT OF JOHNSON MATTHEY MILNER, M.J. SAATCHI BROTHERS HUGHES INTERNATIONAL INC. HUNTINGDON RESEARCH CENTER PLC INTERLINK BUSINESS & COMMU. SVCS. IMPERIAL CHEMICAL INDS PLC COSTAIN GROUP PLC SEMPERNOVAL PLC REUTERS HOLDINGS PLC CARPETS INTL OVERSEAS LTD. BERRY, NICHOLAS JOHN LAING PLC COURTAULDS PLC PHILIP HILL INVESTMENT TRUST PLC HOWDEN GROUP JOHN LAING PLC RUSHDEN INVESTMENTS LTD. SAATCHI BROTHERS KLEINWORT BENSON, LTD. UNITED KINGDOM, GOVT OF b o o k e r Mc Connell plc LAPORTE INDUSTRIES HOLDINGS PLC LLOYDS BANK INT'L. LTD. LMS AMERICAN HOLDINGS CARLESS. CAPEL AND LEONARD PLC LADBROOKE GROUP PLC HAMPTON GOLD MINING AREAS PLC UNITED KINDOM, GOVT OF LOWE HOWARD-SPINK CAMPBELL HOLDINGS PLC AM AM 24.0 73.0 AM OT AM AM AM 10 AM AM AM AM PE NP AM RE AM AM AM El OT PE PE OT AM JV AM AM NP NP OT PE AM NP El AM El RE NP AM OT OT AM AM OT AM AM AM OT OT AM RE AM JV AM 65^0 HOUSTON HOUSTON NEW YORK HUNT VALLEY TROY PAINESVILLE NEW YORK LA GRANGE ALEXANDRIA ATLANTA HOUSTON HOUSTON LAGUNA HILLS BISMARK NEW YORK LOS ANGELES DENVER TORRENCE LOS ANGELES DENVER NEW YORK CRAIG WASHINGTON NEW YORK - 98 - 12! 0 25 !o 10! 0 46.6 10.0 21 . 5 17.5 380.0 7.4 8.0 8.’3 2.8 3.0 2! 6 42.0 4! 5 100.0 4.0 6.5 15.0 6.0 26.0 2.8 3.9 39.6 , 1985 FOREIGN INVESTMENTS COMPLETED TRANSACTIONS NA US FIRM NAME UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK UK .UK UK UK UK UK UK UK UK .UK -UK UK UK UK MARTIN MARIETTA CORP'S PLANTS (4) MEDICO INDUSTRIES MERCHANTS HOME DELIVERY SERVICE INC. MIDLANDS ENERGY COfS ASSETS MILLER FREEMAN PUBLICATIONS INC. MONARCH INSURANCE CO. MONARCH INSURANCE CO. MONMOUTH PAPER CO. INC. MONMOUTH PLASTICS INC. NABSCAN/NATIONAL SCANNING SRVS INC. NAT'L. SECURITIES AND RESEARCH CORP. NATIONAL EDUCATION'S HEALTH CARE DIV. NEO ENERGY INC. NEW WELLS (3) OFFICE BLDG OFFICE BLDG. OIL WELL OIL WELLS (2) ORIGINAL COOKIE CO. INC. OSPREY ELECTRONICS INC. PA NORTH AMERICA'S NEW DIV. PACIFIC ANCHOR CHEMICAL CORP. PADDINGTON CORP. PEARLE HEALTH SRVS INC. PENNSYLVANIA GLASS SAND CORP. PEOPLES DRUG INC. PERFECT FIT INC. PETROTECH INC. POTASH CO. OF AMERICA R.R. BOWKER CO. RACAL CORP. RAPID ROLLER INC. REGAN PAPER & PLASTICS CO. REICHHOLD CHEMICALS POLYOLEFIN & VINYL D RETAIL CENTER RETAIL EFT INC. RICH INC. RICHTER BROS. RICOH ELECTRONICS SANGATE CORP. SANVE 1-15 WELL SATELLITE INFORMATION SYSTEMS CO. SCM CORP. SHUN FOOK ENTERPRISES CO. SIEGEL & GALE INC. SOHIO PETROLEUM CO'S WELL SOUTHLAND ROYALTY CO'S OIL INTERESTS STERLING PLASTICS INC. SWEDA INTL DIV. SYNTEX OPTHALMICS INC. TAYLOR DIVING & SALVAGE INC. TECA CORP. T e l e c o m g e ner a l c o r p . THERESA FRIEDMAN & SONS INC. TRANAMERICA'S FRED JAMES INSURANCE TRW-FERRANTI SUBSEA INC. LOCATION ELWOODS OXNARD SAN FRANCISCO NEW YORK COLUMBUS MEW BRUNSWICK ASBURY PARK NEW YORK NEW YORK DALLAS NEW YORK WASHINGTON CLEVELAND HOUSTON HIGHTSTOWN LOS ANGELES DALLAS BERKELEY SPRG MONROE ST. CLAIR DENVER NEW YORK BOCA RATON CHICAGO TAMPA ATLANTA DOWNERS GROVE FRANKLIN PK. CARLSTADT NORWALK NEW YORK BOULDER NEW YORK EL CAJAN NEW YORK STERLING HTS PINE BROOK HOUSTON PLEASANTVILLE SANTA CLARA PHILADELPHIA SAN FRANCISCO - TS SIC FOREIGN INVESTOR TY VALUE KY KS CA CO CA NY OH NJ NJ NY NY CA TX TX NY DC LA LA OH TX NJ CA NJ TX WV MD NC MI CO NY FL IL FL NJ GA IL IL NJ CT NY OK CO NY CA NY FL TX MI NJ AZ TX NY CA PA CA TX 3353 2834 4212 1311 2721 63 63 5113 3079 7392 62 8081 1311 1311 xxxx xxxx 1311 1311 5462 5084 7392 2821 5181 5999 1446 5086 2392 1382 1474 2731 3662 3555 5113 2865 xxxx 7399 3662 5141 RIO TINTO-ZINC CORP. WELLCOME FOUNDATION PLC NATIONAL FREIGHT CONSORTIUM PLC UNITED KINDGOM, GOVT. OF THE UNITED NEWSPAPERS PLC PEARL ASSURANCE PEARL ASSURANCE BUNZL PLC COOKSON GROUP PLC MILLER & ALLEN INTL PLC AITKEN HUME GRAND METROPOLITAN PLC INOCO PLC UNITED KINGDOM, GOVT. OF HERON INTNTL PLC LADBROOKE GROUP PLC UNITED KINGDOM, GOVT OF WESTPOOL INVESTMENT TRUST PLC ROWNTREE MACKINTOSH PLC LYLE OFFSHORE GROUP PLC PA HOLDINGS ANCHOR CHEMICAL GROUP PLC GRAND METROLPOLITAN PLC GRAND METROPOLITAN PLC RIO TINTO-ZINC CORP. BAT INDUSTRIES PLC CHARTERHOUSE GROUP (THE) PLC UK TEMPERANCE & GEN'L PROVIDENT INSTIT. RIO TINTO-ZINC CORP. PLC REED INTERNATIONAL PLC RACAL ELECTRONICS PLC BTR PLC BUNZL PLC UK, GOVT. OF CAPITAL AND COUNTIES PLC UNIVERSAL MONEY CENTERS PLC REUTERS HOLDINGS PLC GUINESS PLC GREY COAT CITY OFFICES PLC BRITISH CAR AUCTION GROUP PLC UNITED KINGDOM, GOVT. OF ELLIS, MICHAEL J. HANSON TRUST PLC DICKSON TOO (HOLDINGS) LTD. SAATCHI BROTHERS UNITED KINGDOM, GOVT OF TRAFALGAR HOUSE PLC PILKINGTON BROTHERS PLC HUGIN GROUP PLC PILKINGON BROTHERS PLC WHARTON WILLIAMS VICKERS PLC BRITISH PETROLEUM CO. PLC. RANK HOVIS MCDOUGALL PLC SEDGWICK GROUP, PLC FERRANTI PLC AM AM AM AM AM OT OT AM AM AM AM AM AM OT RE 400.0 99 - XXXX 7512 1311 7374 2816 5541 7311 1311 1311 3079 3574 3843 7399 3693 3662 2033 63 8911 OT AM AM OT NP El NP AM AM OT AM El AM AM OT AM AM AM RE AM AM AM El OT AM AM AM AM OT AM AM AM AM AM AM AM AM AM JV 73! 5 s!o 8 o !o 46.0 11 !3 36.0 386 .*0 90.0 35.0 1 .3 io!o 28 !o 3.6 227 . 9 1 !3 26! 5 28.0 60.0 12.5 16.0 12.5 10.0 780.0 1985 FOREIGN INVESTMENTS COMPLETED TRANSACTIONS NA US FIRM NAME LOCATION TS SIC FOREIGN INVESTOR TY VALUE UK UK UK UK UK UK UK UK UK UK UK UN VE VE VE TUSCALOOSA STEEL VISCOUNT ATLANTA HOTEL WALLMATES NALSH CHEMICAL CORP. WARRINGTON ASSOC. INC. WEST CHEMICAL PRDTS1 PHENOTHIAZINE DIV. WICAT SYSTEMS INC. WILLIAMS BROS INC. WUNDIES INC. YATES MFG INC. 1180 AVE. OF THE AMERICAS OFFICE BLDG CONSOLIDATO INTfL. BANK NAVIERA PACIFICO CA OFFICE BLDG TUSCALOOSA ATLANTA CHICAGO GASTONIA HOPKINS PRINCETON OREM ATLANTA NEW YORK CHICAGO NEW YORK NEW YORK NEW YORK AL GA IL NC MN NJ UT GA NY IL NY NY NY CA NY 3312 7011 2621 2834 7374 2842 7372 3273 2341 2899 xxxx xxxx 60 4411 xxxx UNITED KINGDOM, GOVT. OF TRUSTHOUSE FORTE PLC UNITED KINGDOM, GOVT. OF RIO-TINTO-ZINC CORP. PLC SYSTEMS DESIGNERS INTL PLC IMPERIAL CHEMICAL INDUSTRIES PLC ATLANTIC ASSETS/INDEPENDENT INV. BLUE CIRCLE HOLDINGS PLC BARON ROTHSCHILD UNITED KINGDOM, GOVT OF GREY COAT CITY OFFICES PLC OAK PROPERTIES CONSOLIDATO INTfL . BANK DUARTE, PARTIDAS Y ASOCIADOS VENEZUELA, GOV'T AM RE AM AM AM AM AM AM AM AM RE RE OT OT RE 97.0 NEW YORK - 100 - 10.0 7 !2 2.6 44.3 7.0 15.0 9.7 . . 4.0 APPENDIX C DESCRIPTION OF KEY TERMS Acquisition — a transaction in which title to stock or assets of the U.S. target is secured by another person or enterprise. The substantive result is that one party obtains ownership of another. Agencies — foreign financial intermediaries operating in the United States primarily financing international transactions, but prohibited from accepting domestic deposits. Branches — foreign financial intermediaries (integral parts of the foreign parent banks) which can accept domestic deposits. Development — to purchase). realty investments that involve construction (as opposed Equity Increase — a rise in the percentage of equity securities held, or an equivalent increase in percentage ownership, by a foreign investor. Foreign Direct Investment — the direct foreign entity of 10 percent or more of incorporated business enterprise, or an unincorporated business enterprise, and real property. or indirect ownership by a the voting securities of an equivalent interest in an a 10 percent or more interest in Joint Venture — a transaction in which two or more parties establish a new corporation to which each contributes according to the provisions of the joint venture agreement Merger — a transaction which results in the dissolution of the acquired business enterprise, into either another already existing or into a reorganized (but not always renamed) company. - 101 - New Plant — a new operating facility, established either in conjunction with an existing foreign-owned productive enterprise or as a completely new venture. Plant Expansion — an addition to the capacity of an existing foreign-owned operating facility. Purchases — used herein to describe realty transactions, specifically the acquisition of real property. Standard Industrial Classification (SIC) — categorizes U.S. industries in a numerical classification series, in accordance with the composition and structure of the domestic economy. Subsidiaries — separate legal entities either owned or controlled by foreign investors but permitted to do business in the United States under state and/or Federal authority. Transaction Value — the reported total cost of the investment, or the estimated proportion of the investment if a joint venture, regardless of the source or timing of funds. - 102 -
@FedFRASER