Word: kennecott
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...Pennsylvania's Governor Raymond P. Shafer last week asked the governors of eight other steel-producing states to join him in negotiating an end to the walkout. And in Utah, where the economy is off by $30 million so far because of a twelve-week strike against the Kennecott Copper Co., Governor Calvin L. Rampton summoned labor, management and TV cameramen to the state capitol for a well-publicized effort to get negotiations moving again...
...million program to find new sources as well as improve existing facilities. At the same time, Anaconda Chairman Charles M. Brinckerhoff, 66, recently signed a 20-year agreement with the Chilean government that should help stabilize the company's operations in that country; unlike its chief U.S. competitors, Kennecott and Phelps Dodge, both of which mine most of their copper at home, 65% of Anaconda's supply comes from Chile...
...important reversal" in orders for its once slow-moving 2400 copier, earnings outraced increasing costs. Though the year-long gain was nothing like 1965's 47% leap, Wilson seemed almost embarrassed. Some time in the future, he warned, "our percentage rate of growth must, of course, diminish." - Kennecott Copper, one of the three biggest U.S. copper producers, turned a first-half slump resulting from strikes in Chile into a booming year with profits up 22%, to $125 million. Thanks to heavy Pentagon orders and higher prices abroad, Kennecott is well polished for its upcoming $466 million merger with another...
...Shell-Shocked." Companies like Anaconda and Kennecott, which both have giant mines in Chile, are not so happy about the increase. They remember that, in the volatile copper market of the past, exorbitant prices have driven buyers to find-and stay with-such substitutes as aluminum and plastics. And if the "fixed" 42? price is high, the uncontrolled price is even higher. The large companies, which set their own price, normally sell only to large and regular customers; smaller buyers must compete for the remaining 30% of the copper supply on commodity markets like the London Metal Exchange, where last...
...investment plans to include new facilities in Latin America, including Dow Chemical, General Motors and Chrysler, all of which are building large new plants. U.S. Steel, Union Carbide and Alcoa are considering multimillion-dollar expansions there. Chile's government has persuaded its U.S. copper companies-Cerro de Pasco, Kennecott and Anaconda-to invest $410 million by 1970. Venezuela has done such an effective job of mopping up its Communists that Jersey Standard's Creole and other oil companies, which transferred more than $100 million out of the country in 1962 and 1963, are pumping capital back in again...