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Ford Looking to Sell All or Part of Hertz Subsidiary

April 17, 2002

Ford Motor Co. and Hertz Corp. said they are considering selling all or part of Hertz Equipment Rental Corp. (HERC). HERC is a subsidiary of Hertz, which is a wholly owned subsidiary of Ford. The company, which supplies rental construction, earthmoving, industrial, and electrical equipment, operates in the United States, Canada, France, and Spain. Ford said it has hired the financial firm JP Morgan to assist in its evaluation of the sale.
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