International Business

BMW to Expand South African Exports: The German auto maker said it plans to invest about $276 million in its South African subsidiary over the next four years to convert its factory into an export hub for Australia, Africa and Asia. BMW South Africa has annual revenue of about $551 million. It claims a roughly 7.5% share of the South African car market. The company’s Rosslyn plant northwest of Pretoria produced about 18,500 cars in 1995. It sold 18,028 cars in South Africa and exported the rest to Australia and sub-Saharan Africa. It recently began exporting cars to Pakistan. BMW expects to increase its South African production to about 25,000 vehicles a year.