Word: caltex
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Dates: during 1950-1959
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Similar offers went to Caltex of California and Britain's Burmah-Shell. In return the three outfits would promise to train Indian technicians, employ as much Indian labor as possible, and stimulate Indian industries. By 1955 the companies hope to have three oil refineries worth $100 million, producing two to three million tons of refined products a day. A compact advantageous to both parties, it is also welcome as the first major investment of private U.S. capital in India since India won its independence...
...Government orders, all won by competitive bidding. To keep up with-or ahead of-southern competitors, Kahn is putting the finishing touches on a ten-year, $8,000,000 program of expansion and modernization. This month he added to his bathing suit line by buying Los Angeles' Caltex of California Co., one of the West Coast's bigger swimsuit producers...