Word: gobain
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Dates: during 1960-1969
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Though industrialization is just beginning in earnest, the companies that have spread branches in Greece read like a Who's Who of international business: Germany's Krupp, Italy's Pirelli, France's Pechiney and Saint-Gobain. The U.S.'s Reynolds Metals is breaking ground near Delphi for a $59 million aluminum plant using Greece's ample reserves of bauxite, and Dow Chemical has opened a polystyrene plant at Lavrion, site of ancient Greek gold and silver mines. From the rocky perch near Athens where Xerxes once helplessly watched his mighty Persian armada being turned...
...already giant Imperial Chemical Industries against prospective Common Market competition that I.C.I. Chairman Stanley Paul Chambers launched his ill-fated attempt late last year to take over Courtaulds, Britain's biggest synthetic-fiber maker (TIME, Jan. 26 et seq.). On the same grounds, France's Saint-Gobain, Europe's biggest glass manufacturer and a burgeoning chemical maker, recently set up a joint market venture with Pechiney, another French chemical outfit. "We would probably have merged some day anyhow," says Saint-Gobain President Count Arnaud de Vogue, "but the Common Market made us do it faster...
...Long-term foreign investments in U.S. plants and real estate have doubled since 1950, now total $6.9 billion. The Italian balm supplied by Olivetti has eased the pains of the U.S.'s typewriter-making Underwood Corp., and other European giants such as France's glassmaking Saint-Gobain and Germany's chemical-making Bayer have opened U.S. branches with U.S. partners. One British real estate syndicate-Boston British Properties, Inc.-even intends to rejuvenate downtown Boston, has bought a tract near the scene of the Boston Tea Party to put up the city's tallest building...
This eerie giant, the Chantereine plant of France's Saint-Gobain glassmakers, is the most modern glass factory in France-and among the most modern in the world. One of scores of heavily automated factories now operating in Europe and Asia, it throws doubt on a thesis popular with many Americans: that U.S. industry despite rising wages and costs, can keep its products competitive abroad by ever-increasing recourse to automation and mechanization...