Word: consortiums
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Brand-New City. The financial genius behind Nimba is Swedish Financier Marcus Wallenberg, 64 (TIME, June 7), who saw the opportunities in Liberia and knitted together half a dozen Swedish mining companies and U.S. and German financial interests into a complex consortium called LAMCO-Libe-rian American-Swedish Minerals Co. LAMCO dispatched Geologist Clark to Nimba when almost everyone else in Liberia was searching elsewhere for iron. After Clark's discovery, President William Tubman's government gave the company exemption from taxes and a mining concession until 2023 in return for half ownership of LAMCO. A substantial junior...
Still, Liberia has compelling reasons for not wanting to alienate LAMCO. Partly in anticipation of rich revenues from the consortium, President Tubman and his ministers went on a spending and building spree that landed Liberia in bad financial straits last spring. Tubman, 68, had to promise the International Monetary Fund that Liberia would enact fiscal reforms in return for an IMF loan to tide the country over until its profits from LAMCO begin to build up in six or seven years...
...rising in the abundant streams and rivers that feed the Tigris and Euphrates, those watering founts of ancient civilization. Going up on the Black Sea coast at Eregli is a $235 million, government-subsidized iron and steel complex that will be stoked by coal from nearby deposits. A consortium of Royal Dutch/Shell, British Petroleum and Mobil Oil built a $56 million refinery that started cracking at Mersin on the southern coast last year. Recently Goodrich, U.S. Rubber and Italy's Pirelli set up plants in Turkey, and Chrysler will soon begin to assemble trucks. German businessmen opened a mushroom...
...British Aircraft Corp. BAC One-Eleven short-range jet transports worth $83.7 million. At the other end of the jet spectrum, among the big long distance models, Continental Air Lines fortnight ago signed up for three Concorde Mach 2.2 supersonic jet trans ports being built by a British-French consortium for delivery beginning in 1970. Pan Am has already ordered six Concordes - and TWA seems certain to follow. The orders are a form of insurance by the U.S. airlines to ensure them a place in line for the Concorde, and their down payments will be returned if the Concorde does...
...effort received an unintentional boost from the Concorde consortium, which has set up a cozy delivery plan under which only Air France, BO AC and Pan Am will receive the first 18 planes. Since production of the 18 will probably run well into 1969. the U.S. may be able to deliver its SST to the rest of the world's airlines almost as soon as the consortium can, thus capture a good part of the market and hopefully help to repay a big part of the Government's costs...