Word: marketed
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Dates: during 1970-1979
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...very little to do with the industry's cozy stance. Until 1975 the biggest producers acted as if it was more important to expand capacity than to make money. Even though the Government stood ready to buy aluminum for its strategic stockpile, an excess supply overhung the market, depressing prices. As Duncan Campbell, vice president of Montreal-based Alcan, which sells more than a quarter of its production in the U.S., puts it, "We went through our garden of Gethsemane in most of the 1970s basically because of oversupply. We were gouging each other's eyes...
...suppressing the urge to expand, aluminum producers are now ensconced comfortably in a sellers' market. Capital expenditures are aimed mainly at such things as moneysaving computer controls and materials-handling equipment and the reduction of energy costs. In addition, the big companies are eagerly spending to install machinery that transforms metal into fabricated products such as aluminum cans, electric cable, auto components and building materials. Adding value to ingots increases profits...
These efforts, plus small additions to existing facilities, will increase world capacity by less than 4% a year, while most experts agree that the market will grow at a rate of 5% for the foreseeable future. Only one firm, Alumax, a joint venture of AMAX, the large U.S. mining company. Japan's Mitsui & Co. and Nippon Steel Corp., is attempting to cash in on the shortage by investing in new plants in Oregon and South Carolina-a mighty $800 million gamble...
Harry N. Abrams Inc., the New York art-book publisher, bought the English-language rights, insured the risk by bringing in Bantam, the paperback house, as a partner and placed 40,000 copies on the market last fall under the simple title Gnomes. The book has sold 250,000 copies at a prepublication price of $14.95, and Abrams expects it to sell another 150,000 copies at the full price of $17.50. Abrams struck a crock of gold. Gnomes, says President Andrew Stewart, "will have a significant impact on our profits in 1978. We'd have a good year...
...billion. Kodak will doubtless avoid paying anything for years, while it carries appeals to higher courts. But the legal battle stands to cloud the future of a company that has suffered some reverses lately. Kodak has been less than victorious in its battle with Polaroid in the instant-camera market, and Kodak's stock has plunged from a 1973 high of 151¾ to last week's 42⅛. What is more, Berkey's is not the only suit Kodak is contesting. Others have been filed by Pavelle, a tiny New Jersey firm that went bankrupt...