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.