Word: boveri
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Ordinarily it takes decades to build an industrial behemoth on the scale of General Electric, West Germany's Siemens or Japan's Hitachi, but last week a world-class electrical-engineering giant was born practically overnight. In a surprise strategic move, two smaller European competitors -- Switzerland's Brown, Boveri and Sweden's ASEA -- announced a plan to merge their main operating divisions into a joint venture that would boast annual sales of more than $15 billion and employ some 160,000 workers. The new ASEA Brown Boveri should be a potent competitor in the global market for heavy electrical products...
Giovanni Agnelli, Fiat; Giuseppe Bertola, Brown, Boveri & Co.; Count Rene Paul Boel, Solvay et Cie.; Willard C. Butcher, Chase Manhattan Corp.; Louis Camu, Banque de Bruxelles; Alain Chevalier, Moet-Hennessy; Dr. F. Wilhelm Christians, Deutsche Bank; Fernand Josef Collin, Kredietbank, N.V.; Dr. Paul Dax, Siemens; Sir Eric Drake, British Petroleum; Baron Edouard-Jean Empain, Electrorail; Nils Foss, F.L. Smidth & Co.; Pehr G. Gyllenhammar, Volvo; Alfred H. Heineken, Heineken, N.V.; Belton K. Johnson, King Ranch; Dr. Konrad...
...prospect of an isolationist America perturbed the Europeans. Giuseppe Bertola, of Switzerland's Brown Boveri, said: "I have always found in America a certain missionary zeal. The First World War made the world safe for democracy and revived in Europe the truth about the American dream, the American way of life, and so on. Now it seems that this missionary zeal has been lost in the big changes through which we are passing. America speaks no more of leadership, but of partnership. Everybody is confused by what is intended, because just at a moment when it is necessary...
Another Ally. Long a family-run business, B.B.C. is now bossed by Dr. Max Schmidheiny, 59, a Swiss engineer who succeeded Dr. Walter E. Boveri, son of the founder, in 1966 (no Brown has been with the firm since 1941). While his three managing directors run day-to-day operations, Schmidheiny has been tuning B.B.C. up for a broad assault on the lucrative U.S. market. He thus considers it fortunate that, unlike most European firms, B.B.C. has not based its production on licensing agreements with the large American companies...
...back up B.B.C.'s technological clout with more efficient production, Schmidheiny last spring completed a merger with Maschinenfabrik Oerlikon, Switzerland's second biggest electrical company. And only last month, shortly after winning the huge American Electric and TVA orders, he signed up another U.S. ally. Brown, Boveri and North American Rockwell Corp. announced plans to study ways of mating the U.S. company's nuclear know-how with B.B.C.'s turbine technology to enter the mushrooming American market for atomic-power plants...