Word: montecatini
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...largest merger in Italian history is about to create the country's biggest business (replacing Fiat). The merger is between Montecatini, the huge chemical-minerals complex, and the Edison Group, a private power company that switched to heavy industry in order to survive when Italy nationalized power in 1962. The resulting giant, which Italians are already calling "the supercolossus," would have united sales of about $1.5 billion, would control 70% of Italy's chemical production and much of its pyrite, potassium, bauxite and glass output. At the news that the government had tentatively approved the merger and that...
...second auspicious event of the week for Montecatini. Earlier, autocratic, meticulous President Carlo Faina, 71, who is descended from the Bonapartes, returned from a trip to Moscow with more to show than Ancestor Napoleon had ever brought away. Montecatini, announced Faina, will build six chemical plants for the Russians under a $110 million contract, will also exchange raw materials (including Russian oil) and finished products with them, and has worked out a technical-assistance agreement that will net more millions. The agreement is the largest that any Italian company has ever made with the Soviets...
...ENEL's managers, the dispossessed power companies are using their compensation to invest in profitable new private enterprises. Edison, whose corporate shell was left in private hands after nationalization, is now a leader in chemicals, computers and farm equipment. Adriatic Electric has merged with huge and powerful Montecatini. Even the state-owned IRI Finelettrica-which managed to get "nationalized" by being swallowed up by ENEL-has shifted its investments into steel and a nationwide telephone system, is now channeling compensation money into new industrial development in southern Italy...
...inspiration for the doors flowed into my mind and consciousness." Working with Monsignor Giuseppe de Luca, an old friend and a priest-publisher from Rome, Manzù finished the design in 1962. The work was then cast by two Milan foundries, using a new bronze formula created by Montecatini chemical laboratories near Milan...
Taking a mineral water cure for "liver insufficiency," the Shah of Iran, 44, daily commuted the 25 miles from Florence to the Montecatini spa in his Mercedes or new grey Ferrari 330 coupé, hitting speeds of up to 130 m.p.h. The Shah's liver perked up after a fortnight, and his wife, Farah Diba, 25, came on down from Innsbruck, where she had been skiing since the Olympics. Then they tooled into Rome where Fair Farah and the monarch, who had been working so hard at his land-and government-reform programs that his doctors had ordered...