Word: coppers
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...mile border with Rhodesia closed and declared that he would begin "fully implementing" the United Nations-imposed international sanctions against Rhodesia. His government detained 18 Rhodesian trainmen caught inside Mozambique's borders and seized a considerable amount of Rhodesian rolling stock as well as tons of tobacco, copper, chrome and asbestos awaiting shipment at Mozambican ports...
...dilute support for Savimbi, the Luanda government last week made friendly overtures to its opponents' key backers. In private messages sent to Zambia and ZaïreĤ, Neto said that in exchange for recognition, he would allow his two neighbors to resume transport of their crucial copper exports over the Benguela Railway...
...order to delay the M.P.L.A. from putting the railroad back in operation. That scheme would not only hamper Angola's economic recovery but also inflict more punishment on Zambia and Zaïre. Both countries have been strong UNITA supporters and depend heavily on the railroad for copper exports...
...merger would unite companies with annual sales of $6.7 billion. Tenneco, whose profits rose to a record $342.9 million on $5.6 billion in sales last year, is a natural-resources and gas-pipeline firm, with interests ranging from chemicals to shipbuilding. Anaconda mines and processes copper, aluminum and other metals and manufactures a wide range of industrial materials. Recently the firm has been buffeted by reverses, including the 1971 expropriation of its huge Chilean copper holdings, falling copper prices and a slump in demand for Anaconda's products. Result: a $39.8 million loss in 1975 on revenues...
Analysts felt both the Crane and Tenneco offers too low. Many consider Anaconda a company with potential for a strong comeback. Copper prices are expected to rise because shipments from Africa are being disrupted by the Angolan civil war. The company will probably be acquired by somebody, but it may be neither Crane nor Tenneco...