McGraw-Hill to End Its Operations in S. Africa
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NEW YORK — McGraw-Hill Inc., one of the world’s largest publishing and information-services companies, said Thursday that it will end all operations in South Africa and stop selling its products to the racially segregated country.
The company cited South Africa’s racial and political unrest as the main reasons for divesting. The decision was made by its board of directors.
McGraw-Hill said it is negotiating to sell its South African subsidiary, McGraw-Hill Book Co. (South Africa) Ltd., to local management.
McGraw-Hill’s South African operations employ 51 people and had total sales of $2.5 million in 1986, accounting for less than 0.2% of the company’s total sales.
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