Word: fiat
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...largest merger in Italian history is about to create the country's biggest business (replacing Fiat). The merger is between Montecatini, the huge chemical-minerals complex, and the Edison Group, a private power company that switched to heavy industry in order to survive when Italy nationalized power in 1962. The resulting giant, which Italians are already calling "the supercolossus," would have united sales of about $1.5 billion, would control 70% of Italy's chemical production and much of its pyrite, potassium, bauxite and glass output. At the news that the government had tentatively approved the merger and that...
...interest in Amsterdam's West Friesland Eurotransport, Inc. Though West Friesland's business came to a modest $3,500,000 last year, the company operates in ten countries, far more than any other European line, and thus offers DC an ideal base for expansion. Italy's Fiat has agreed to take the remaining 15% interest as "a calling card that we are leaving with a prospective new customer for our trucks...
...scarcely 4% of Western Europe's exports. Recently Austria's VÖEST sold an entire steel plant to Czechoslovakia. France's Renault signed up to build an auto assembly plant for the East Germans; in Poland, the British Motor Corp. is fighting Italy's Fiat for the contract to build an auto factory. Last week ouside Ploesti in Rumania, Illinois' Universal Oil Products prepared to break ground for a $22.5 million cracking plant-one of the biggest U.S. construction jobs ever undertaken behind the Iron Curtain...
...formierte Gesellschaft face formidable obstacles. Under the German constitution, such fiscal reform would have to be approved by the Lander, then gain a two-thirds majority in the Bundestag. Erhard is the first to admit that his ambitious proposals cannot-and should not-be imposed on the nation by fiat. Instead, he contemplates the use of simple public exhortation to civic responsibility-the Seelenmassage (soul massage) that he has used for years to win over West Germans to his programs for social betterment through economic reforms...
...Monte Carlo and tired of touring the Greek islands, members of the international yachting set have begun to drop their anchors and their passengers near Turkey's untrammeled delights. Among the yachts that recently graced the port of Antalya were the three-masted schooner Sylvia, owned by Fiat Vice Chairman Gianni Agnelli, and the black 245-ton schooner Taitu, owned by Italian Builder Giorgio Varvaro. The Turkish government is slowly becoming aware that it has a priceless tourist asset in the area, has reduced the price on its two weekly flights from Istanbul to a modest $12 in order...