Word: hoechst
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Dates: during 1960-1969
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...West Germany, whose surprisingly small ($247 million) U.S. stake reflects a caution resulting from wartime confiscations, may become the biggest investor within the next decade. Hoechst, Bayer and BASF are leading a current surge of interest in manufacturing on American soil the chemical products that they now export to the U.S. The West German government, uneasy about its big trade surplus (TIME, Oct. 25), is strongly urging others to build abroad...
...when American Cyanamid discovered it was simpler to raise money through a Delaware holding company, which does not have to withhold tax if 80% of its business is done outside the U.S. But European firms are more than taking up the slack. Germany's AEG, Thyssen, Siemens and Hoechst, for example, have moved in to escape the 25% withholding tax at home on interest paid to foreign holders of German bonds. The roster has grown to 32 companies, almost all in the big leagues...
When mighty I. G. Farben was broken up by the Allies after World War II, the smallest and least known of the three major offshoots was a company called Badische Anilin und Soda Fabrik. Like the two others, Bayer and Hoechst, B.A.S.F. proved to be a true heir to the vaunted Farben inventiveness and enterprise. It quickly rebuilt its bombed-out plants along the Rhine at Ludwigshafen, then spread out over 1,580 acres to develop Europe's largest single chemical complex. Now Europe's leading producer of raw materials for plastics and synthetic fibers, B.A.S.F. increased...
After V-E day, the Allies dismembered Farben, splitting off the large Hoechst and B.A.S.F. branches and leaving Bayer with only its badly damaged plant at Leverkusen and 3,000 employees. Came the cold war and Bayer in 1952 was permitted to repossess most of its prewar plants and resume full speed. Bayer's Rhineside headquarters at Leverjusen now embrace 600 buildings, including a 33-story skyscraper that is Germany's tallest. Looking Outward. A concentration on foreign markets has helped put Bayer ahead of its German competitors. Nearly half its sales are exports, and it has interests...
...plant and ten textile mills employ 25,000 Indians, produce 4% of India's cloth, and specialize in the low-cost cottons that make up the traditional dress of most Indians. Dissatisfied with too much dependence on textiles, Mafatlal recently linked up with West Germany's Farbwerke Hoechst to build a $21 million, nine-plant petrochemical complex that will be India's largest. By bringing a much-needed new industry to India, he hopes to dispel the notion, widely held among his countrymen, that all industrialists are merely greedy. Says Mafatlal: "We can also make a useful...