Word: montecatini
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Dates: during 1950-1959
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...processed fruits and vegetables rising from almost nothing in 1946 to $37 million in 1955, some $48 million last year. Much of the new industry is homegrown, but much more comes from foreign businessmen and mainland Italians who know a good thing when they see it. Italy's Montecatini Co. recently opened a big potash works near Syracuse employing 2,000 workers, is already building a second to tap newly discovered deposits 55 miles inland. French chemical, German beer and electric-power companies are also moving...
Died. Christian Dior, 52, pink, plump world-fashion dictator, designer of the New Look (1947) and the Flat Look (1954), supporter pf the Sack Look (1957); of a heart attack while playing cards on vacation in Montecatini, Italy. At 30 he launched his career as assistant to such shapemakers as Robert Piguet and Lucien Lelong. After the war French Textile Mogul Marcel Boussac backed Dior, and a year later the designer had made fashion history, to remain fashion's tireless (13 hours a day) kingpin ever since, the much-publicized cause of the rise and fall of bosoms...
...firms that are building the new industry include Italy's Montecatini, Germany's Uhde of Dortmund (an I. G. Farben subsidiary), Texas' Tif Co Inter America Corp. But the money and the management come strictly from the Venezuelan government. La Petroquímica's boss is Alberto J. Caldera, Director of Economy in the Ministry of Mines and Hydrocarbons. The venture puts the government, which already has investments in planes, ships, power and steel, deep into business. Caldera is outspokenly in favor of the trend: "We have the natural gas, we have the oil, we have...
...move that surprised friends and foes alike, Segni gave the new Cabinet post to brawny, brawling Giuseppe Togni, 53-year-old founder-president of CIDA, the Italian business executive union. A onetime marble cutter who worked his way up to a top management job in Italy's vast Montecatini chemical company, Christian Democrat Togni is a vocal exponent of free enterprise. He is also one of Italy's most unrestrained antiCommunists, two years ago set off the worst riot in Italian parliamentary history by bellowing at Communist deputies: "I would like to know how many ex-spies...
...Gulf accepted a 60-40 deal in Italy, it would jeopardize its 50-50 deals with countries such as Ku wait, where Gulf owns half of the West's third-biggest oil producer. Last week Gulf sold its half interest in Petrosud, its mainland subsidiary, to the big Montecatini Chemical complex (TIME, Jan. 21), its partner in the enterprise. Gulf will press ahead in semi-autonomous Sicily where operations are governed by a more favorable oil law. This week, as Gulf's field in Ragusa, Sicily hit 18,000 bbls. a day, it opened a 14-in. pipeline...