Word: giustiniani
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Dates: during 1960-1969
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...company was hard pressed to pay its debts and, to make matters worse, the cost of building its new petrochemical plant at Brindisi on Italy's heel overran its $160 million estimate by almost 50%. The setback was enough to topple fast-running Managing Director Piero Giustiniani, the driving force behind Montecatini's expansion, and leave full command in the hands of the more conservative chairman, Count Carlo Faina, 69. Faina, a papal count who claims direct descent from Napoleon, guided Montecatini in the early postwar years, but had turned technical direction over to Giustiniani. After failing...
...restless force that has steered Montecatini, Italy's giant chemical company, away from minerals and into a worldwide petrochemical operation is supplied by its big (200 Ibs.), back-thumping managing director, Piero Giustiniani, 61. Last week, to expand its toehold in the U.S. chemical market, Montecatini bought for an estimated $5.7 million a 4% interest in New Jersey's Minerals and Chemicals-Philipp Corp. As part of the deal-which is designed to produce transatlantic cooperation in mining, manufacturing and merchandising-Giustiniani got a seat on the Minerals and Chemicals board. Somewhat ruefully, Italian colleagues predict that American...