Word: montecatini
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...with breakfast foods, apple juice and catchup. Arvind Mafatlal, 43, who as oldest brother became chair man of Mafatlal Gagalbhai after his father's death eleven years ago, is leading it away from textiles and into more profitable chemicals. He has undertaken joint ventures with both Shell and Montecatini, has a $140 million expansion program under way that will make the brothers India's biggest petrochemical producers...
...ITALY, Montecatini and the Edison Group have combined to control 62% of Italian plastics and synthetic fibers. Italy's biggest sugar company, Eridania, is acquiring Saccarifera Lombarda, which itself recently absorbed the Bonora sugar company...
More Remarkable. The sudden merger and sales activity is the more remarkable because only two years ago Montecatini was in deep trouble. The company, whose products range from aluminum to antibiotics, expanded too rapidly during Il Boom, found itself strapped by ambitious commitments, soaring wages and increased building costs when Il Sboom-the recession-hit Italy. Unable to obtain a needed $72 million loan in a shrinking capital market, Faina skipped a dividend for only the second time in 18 years, looked around for other relief. He found it in a partnership under which the Royal Dutch/Shell Group...
Saved by Shell, Faina moved to strengthen Montecatini. He acquired Adriatic Electric-along with Edison, one of Italy's five big pre-nationalization electric companies-and with it a $190 million expropriation payment still due from the government. Meanwhile, other nations gradually recognized Montecatini patents on such processes as Moplen, a light, easily molded polypropylene for which Chemist Giulio Natta won the 1963 Nobel Prize. Montecatini now holds 1,800 patents, fattens its income by licensing them in 30 countries. Sales are up 31% to $633.6 million this year, although rising costs continue to hold down profits...
...have billowing effects on every financial empire in Italy, will enable Faina to cut costs. It will also bolster power-shorn Edison; under President Giorgio Valerio, 61, Edison has used its expropriation cash to move into electronics and heavy machinery, but most strongly into chemicals, where it has become Montecatini's principal rival. The merged company would no longer have to worry about that kind of competition, nor, because of Italy's easy antitrust laws, about facing monopoly charges...