Word: metalized
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Dates: during 1960-1969
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...European currency controls ended. From the regular meetings in Basel sprang such innovations as currency swaps, by means of which central bankers again and again have defeated speculators against the British pound, and the European gold pool, which has kept the price of the yellow metal stable for seven years (and did so once again during the Middle East crisis). Though the International Monetary Fund boasts vastly greater resources, the Basel Club's ability to provide a wobbly national currency with almost instant credit is often more decisive in forestalling economic panic...
Considering its position as the world's largest producer of metal containers, American Can Co. remains understandably red-faced over its abortive 1929 attempt to set up shop in Britain. That year the company established a British subsidiary-only to meet with an unexpected fate. Joining forces to fend off the challenger, British container companies merged into what came to be known as Metal Box Co. Ltd. and enlisted the technical assistance of American Can's chief U.S. rival, Continental Can Co. The combination proved so powerful that American Can, badly beaten, sold its local operations to Metal...
...Metal Box has since grown into a $408 million-a-year company with 40 plants in the United Kingdom, 32 more in Africa, Asia, Italy and the West Indies. Still working closely with Continental Can, the company has diversified into container products ranging from cardboard boxes and packaging labels to polyethylene bottles and aerosol valves. But it is on the tin cans used for food, beer and soft drinks that Metal Box truly thrives. Thanks to high-powered marketing, the company accounts for 90% of Britain's food-can sales, has just announced record pretax profits of $38.1 million...
Undaunted by all that, American Can is trying again. Last February the $1.4 billion-a-year U.S. company shelled out $3.3 million to buy 60% control of Liverpool-based Reads Ltd., Metal Box's only real competitor. Holding onto a 40% interest is the hoary textile-making firm of Courtaulds Ltd., which was soundly trounced by Metal Box after acquiring Reads in 1959. Under Courtaulds, Reads has turned profits on such lines as steel drums and paint cans, but lost heavily on food and beverage tins. With the arrival of American Can, the company is embarking on a fiveyear...
...price-and-quota-fixing copper cartel to control the world market. After all, their countries plus Peru and the Congo produce 70% of the earth's copper sold for export. * With economies largely based on copper, all four nations have suffered as the price of the red metal outside the U.S. tumbled from nearly $1 a pound in early 1966 to around 45? recently...