Word: incos
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...exploration, world's biggest nickel producer (six-month sales: $225 million) will shell out $150 million to bring huge new nickel source at Moak Lake, Man. into production. At full production, Moak Lake will probably be world's second biggest nickel center, topped only by INCO's own Sudbury, Ont. operation...
This famine is proving a feast for the free world's biggest nickel producer, the 54-year-old International Nickel Co. of Canada, Ltd., which provides 65% of the free world's nickel. Last week Inco announced net profits of $91.5 million for !955, up 40% over 1954. For the sixth successive year, production hit a new peak with nickel deliveries of 290 million Ibs., while the company also delivered 263 million Ibs. of copper (worth $100 million), 1.637,000 Ibs. of cobalt (worth $4 million), 445,000 oz. of platinum (worth $20 million), plus smaller amounts...
Boom & Bust. All of Inco's production came from its famed mines near Sudbury, Ont., where the company has drilled a 396-mile spiderweb of underground tunnels fanning out through five mines. Sudbury is to nickel what Minnesota's Mesabi Range is to iron, at one time supplied more than 80% of the free world's nickel. But the credit for making it pay off goes to a pair of hardheaded metalmen with the know-how and vision to turn nickel into one of the world's most important minerals: Inco's onetime President...
...early days nickel was almost entirely a war baby, whose greatest value was for armor-piercing shells and armor plate. Inco gyrated between boom and bust, went from a $10 million profit in 1917 to an $800,000 deficit in 1921 when defense needs slacked off, and the company actually had to shut down for twelve months, Stanley and Thompson worked years to find peacetime uses for the fabulous nickel lode, helped develop heavy-duty nickel steels for dozens of products, taught businessmen new ways to use nickel in household equipment, autos, steel and other products...
...Nickel Co. of Canada, Ltd. and its U.S. subsidiary, the International Nickel Co., Inc. Wingate was born in Turkey (the son of missionaries), traveled in Europe, and studied law at the University of Michigan. He joined Manhattan's famed Sullivan & Cromwell in 1929, and was assigned to the Inco account in 1930. Five years later Inco hired Wingate, elected him a director in 1942 and a vice president in 1949. He succeeds Dr. Paul D. Merica, who is retiring...