Word: pechiney
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Dates: during 1960-1969
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...fated attempt late last year to take over Courtaulds, Britain's biggest synthetic-fiber maker (TIME, Jan. 26 et seq.). On the same grounds, France's Saint-Gobain, Europe's biggest glass manufacturer and a burgeoning chemical maker, recently set up a joint market venture with Pechiney, another French chemical outfit. "We would probably have merged some day anyhow," says Saint-Gobain President Count Arnaud de Vogue, "but the Common Market made us do it faster...
Many a manufacturer finds that the only way to provide skilled workers is to train them himself. Pechiney, Europe's biggest aluminum producer, takes promising workers off the production line, sends them back to school at full pay to get the equivalent of an engineer's degree. In Brazil, such foreign auto firms as Mercedes-Benz, General Motors, Willys-Overland, Ford and Volkswagen have not only set up their own factory training schools but send top technicians and potential executives to school abroad...
...your March 14 article on the French aluminum and chemical company, Pechiney: this article summarizes in the most vivid way the activity of our company. However, I must point out an error regarding our activity in Cameroon. The aluminum plant belonging to the Compagnie Cam-erounaise de l'Aluminum Pechiney/Ugine is exclusively in the hands of French and Belgian shareholders [not shared with Olin-Mathieson]. On the other hand, Olin-Mathieson is an important shareholder of FRIA, which produces alumina from local bauxite in Guinea; other shareholders in the company, in addition to our French group, are English, German...
...Pechiney...
Into Position. Pechiney is busily moving into position to take advantage of the Common Market. As Europe's standard of living rises, demand for Pechiney's chemicals and aluminum is bound to rise apace. When exports slack off, the company can always intensify its efforts to sell at home, where aluminum consumption is still low (7 lbs. per person v. 21 lbs. in the U.S.). When the domestic market slackens, it need only expand its export market. There, it sells aluminum at about 8% lower than U.S. and Canadian competitors...