Word: boel
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Dates: during 1960-1969
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Solvay will also remain in family control for the foreseeable future. Meeting in Brussels, the 1,800 partners agreed with courtly Baron Rene Boel, their managing director, that accelerated technological progress and increased competition made it necessary to seek public capital. They voted to ante up $40 million more themselves. Eventually Solvay partners will reap a four-for-one stock split, and since not all of the new shares will be fully negotiable, the family will remain the biggest shareholder in the chemical complex that grew from Ernest Solvay's 106-year-old process for making chemical soda into...