Word: hoechst
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...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...
...suffering. Many of their plants are working at only 70% to 80% of capacity. At that level, the profits of older and smaller plants have been wiped out. Even such giants as Britain's Courtaulds and Imperial Chemical Industries, France's Rhone-Poulenc, Germany's Farbwerke Hoechst and Italy's Montedison have been weakened by financial fibrosis...
West German businessmen have long been mighty figures in foreign markets, but nearly always as exporters. Now they are increasingly taking a new role -as owners of foreign factories. In the past two weeks, executives of Farbwerke Hoechst, a huge chemical manufacturer, have played the part with particular bravura in Britain and France. Climaxing a long contest, they outbid the U.S.'s Sherwin-Williams Co. to win a controlling interest in Berger, Jenson & Nicholson Ltd., a major British paint producer. In France, Hoechst executives encouraged a merger of two concerns, Roussel-Uclaf and Centrale de Dynamite, which together sell...
...move overseas has been led by the highly advanced chemical industry, specifically by the three companies into which the victorious Allies shattered the old I. G. Farben cartel. The three are: Hoechst, Farbenfabriken Bayer, and Badische Anilin-& Soda Fabrik. B.A.S.F. recently spent $95 million to buy out Michigan-based Wyandotte Chemicals Corp., the biggest U.S. maker of urethane plastics (1968 sales: $147 million), and it is now putting up $100 million to expand a Wyandotte plant in Louisiana. The firm has also budgeted $200 million to $300 million to build a chemical complex of its own in South Carolina (TIME...