Word: fiat
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VENEZUELAN STEEL will be competing with the U.S. product for South American markets within the next few years. Venezuela has signed a $128 million contract with Italy's Fiat Motor Car Co. to build the country's first big steel plant on the Orinoco River near the big Cerro Bolivar iron ore deposits. To be completed in late 1957, new plant will have an eventual capacity of 421,000 tons of steel annually...
...Geneva last week came word of the first major sale. Westinghouse Electric Corp. became the first company in the world to sell an atomic power plant for export abroad. The buyer was Italy's Fiat company (autos, jet planes, refrigerators), which expects to install its prize at the University of Turin for operation and research, plans to use the electricity at one of its nearby factories...
...Weaver and its top-drawer salesmen, swarmed representatives of 26 nations. Every prospect who looked good or even hopeful got a handsomely bound prospectus with pictures and detailed sketches of the reactor. When the time came to close the first sale, Scientist Weaver and Salesman de Cubas met with Fiat President Vittorio Valletta and signed...
...squad at Verona. He became a Communist Senator and mayor of industrial Turin (pop. 726,618). Then in 1946 he was instructed to resign as mayor, and became instead secretary-general of the powerful, Communist-run Metallurgical Workers Union, whose biggest branch is Italy's biggest employer, the Fiat automotive works...
Communist Party strength among the workers is now waning (it has fallen off nationally 10% to 15% in the last six months), and the most staggering defeat of all was its defeat at Fiat (TIME, April 11). Recriminations filled the air. "Time after time," charged Communist Deputy Agostino Novella, "the party had no adequate warning of what was happening." The Communists were hungry for a scapegoat. A meeting last week of the five national secretaries of the party found one. They decided "to liberate Comrade Roveda" from his onerous duties and told him to go take a health cure...