Word: hoechst
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Dates: during 1970-1979
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Germany, whose businessmen are rapidly becoming enthusiastic investors in the U.S. For years a kind of national taboo in Germany against "exporting jobs" limited U.S. ventures to capital-intensive firms like chemical-making Bayer or Hoechst. Now a conviction is spreading that, as one leading German banker put it, "our domestic market is saturated, and our population is overaged and shrinking. It's just prudent business that if you have a market, your production should follow." With that argument, Volkswagen's boss, Toni Schmucker, persuaded German unions and political leaders that an American plant was vital...
...foot of the Blue Ridge Mountains-it even sports a symphony orchestra-is testimony to the singular success of South Carolina's drive to lure foreign investment. The state has attracted foreign factories worth about $1.7 billion, and some 40% of this investment is located in Spartanburg. Hoechst, Germany's chemical giant, operates a $300 million fiber plant there; Switzerland's Sulzer makes textile machinery, as does Italy's Pignone, and within a year Michelin will open a $100 million truck tire factory near the Milliken research center. All told, companies from eight countries have plants...
...Carolinas, which have long been major textile centers, are also attracting diverse foreign firms. West German companies, led by Hoechst, the chemical giant, have more invested in South Carolina than anywhere else outside of Germany itself. Tennessee's Nashville, along with its multimillion-dollar country-music industry, is fast becoming a mecca for financial services...
...Farbwerke Hoechst...
...European investors, the U.S. offers an abundant supply of skilled labor-which is increasingly scarce at home-and an inflation rate that is low by current European standards. Farb-werke Hoechst AG, a West German chemical company, will spend $30 million this year to expand two existing American plants. Britain's Cadbury Schweppes Ltd. broke ground last month on a $10 million chocolate factory in Hazleton...