XEROX <XRX> AFFILIATE TO SELL S.AFRICAN UNIT
Xerox Corp's affiliate Rank Xerox Ltd
said it signed a definitive agreement to sell its Rank Xerox
South Africa Pty Ltd affiliate to Altron Group <ALRN.O>, for
undisclosed terms.
    Xerox said the preliminary agreement to sell the affiliate
to Fintech, an Altron unit, had been reached in March. Xerox
said completion of the sale awaits approval of Fintech
shareholders and a review by the Johannesburg Stock Exchange.
     Rank Xerox South Africa was founded in 1964 as a wholly
owned unit of Rank Xerox, the Xerox affiliate that manufactures
and markets Xerox products in the Eastern Hemisphere.
    Rank Xerox said that of the 800-man workforce of Rank Xerox
South Africa, 40 pct are black, colored or Asian. The company
will become a wholly owned unit of Altron.
    
 Reuter
