Word: boel
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Gerrit A. Wagner, of the Royal Dutch/Shell Group, agreed with Count Boel, but warned: "The U.S. means business. This is no flash in the pan. I believe the Europeans should realize that the trade and monetary initiatives taken by the U.S. are irreversible for a long time to come. We can argue about the manner in which they are being done. We cannot argue about the direction in which this country has decided to go. We had better ask ourselves how we can live with this...
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...