Word: mattei
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...split of profits after taxes -the successful formula in Saudi Arabia and booming Venezuela. They also wanted the opportunity to compete on an equal basis with E.N.I., the government's oil monopoly, a swiftly growing octopus directed by a smart and aggressive apostle of state socialism named Enrico Mattei...
...Look, It's Simple." On the basis of past performance, E.N.I, is ill equipped to exploit its great privileges. Under Enrico Mattei and with the inherent advantages of a monopoly, the corporation has become in the past two years a huge enterprise (15,000 employees), with holdings in 35 other companies, and has so much money to spend that it wields a potent influence on Italy's press and among its politicians. In the development field, it has expanded Italy's production of methane to almost 100 times the prewar total, a noteworthy achievement...
...congress broke up, there was some solid evidence that Economist Levy and other delegates had gotten their point across. In Italy's Senate, Don Luigi Sturzo, 83-year-old founder of the Demo-Christian Party, an implacable foe of statism and an old enemy of E.N.I.'s Mattei, rose to demand quick passage of the new mining act. Said he: "There is no good reason why private firms, either Italian or foreign, should not carry out research with their own capital and at their own risk." As for E.N.I, itself, even the state authority seemed to be weakening...
...Enrico Mattei, handsome boss of Italy's big Ente Nazionale Idrocarburi state oil and gas monopoly (TIME, Nov. 29), flew across the Atlantic last week to make a deal that will give his country its first doorway into the synthetic-rubber industry. In Manhattan, Mattei signed contracts with Phillips Petroleum Co. and Union Carbide & Carbon Corp. for their processes and help in building a $75 million synthetic-rubber plant at Ravenna, in the Po Valley. It will turn out 35,000 tons of GR-S rubber and 350,000 tons of nitrogen fertilizer annually from nearby methane deposits...
...same amount of gas to produce fertilizer and rubber, Italy can make enough money to balance out $40 million worth of imports. Eventually, as rubber production climbs, Italy even hopes to sell enough to supply a large portion of Europe's synthetic-rubber needs. Furthermore, E.N.I.'s Mattei hopes to soften charges that his state company is throttling private investment; its subsidiary, A.N.I.C., which has 25,000 stockholders (but is 51% owned by E.N.I.), will finance the $75 million project from private sources, use no state funds...