Word: mergers
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Dates: during 1960-1969
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Moving to back up B.B.C.'s technological clout with more efficient production, Schmidheiny last spring completed a merger with Maschinenfabrik Oerlikon, Switzerland's second biggest electrical company. And only last month, shortly after winning the huge American Electric and TVA orders, he signed up another U.S. ally. Brown, Boveri and North American Rockwell Corp. announced plans to study ways of mating the U.S. company's nuclear know-how with B.B.C.'s turbine technology to enter the mushrooming American market for atomic-power plants...
...renovate the aging U.S. flag fleet, whose dwindling capacity has been strained by the pressure of supplying the Viet Nam war. After months of contentious hearings, the Federal Maritime Commission, however, has just approved a stride toward greater efficiency. By a 3-to-2 vote, the commission authorized the merger of three West Coast companies into the nation's largest ship line...
Combined Savings. The merger, largest in U.S. maritime history, aims principally at foreign competition, notably that of merged Japanese lines. The Federal Maritime Commission held that the merger would help the three U.S. companies by permitting several million dollars a year in savings through combined operations-without damaging rival U.S. ship operators. The arrangement would also give a new dimension to the career of Oilman Ralph K. Davies, 70, chairman of A.P.L., who controls all three of the merging lines through a complex of stockholdings...
...ship-line merger, Davies believes that it will "strengthen all the organizations involved just when rapid technological change in the maritime industry makes such strength essential." Some possible obstacles still loom. The Justice Department contends that the Maritime Commission lacked jurisdiction to approve the merger. Either Justice or rival ship lines could sue to block the deal...
Convinced that the trend toward merger will continue, the American Association of Theological Schools has commissioned the research-consultant firm of Arthur D. Little, Inc., to study how seminary unions can be more carefully planned. Dr. Jesse H. Ziegler, executive director of the association, predicts that within the next 20 years most of North America's Protestant seminaries will have combined into 25 major ecumenical clusters...