Word: pechiney
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Dates: during 1970-1979
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...trustbusters-it actively encourages bigness in business. During the last few years mergers have melded the country's leading steel, glass and electronics manufacturers. This week the biggest industrial combine of all ($2.7 billion in sales) will be formed when a new stock issue unites two companies-Pechiney and Ugine Kuhlmann-that dominate Europe in the production of aluminum, stainless steel, specialty steels and nonferrous metals such as titanium, zirconium and tantalum...
...match was planned for more than a year by Pierre Jouven, Pechiney's chief, and Pierre Grézel, who was the head of Ugine Kuhlmann. The companies had already been jointly marketing aluminum, leading one officer to remark: "Pechiney has been in concubinage with Ugine Kuhlmann for years. They're just finally getting married." This week Jouven, 63, whose immediate job is to weld the two management teams into a balanced international organization, will become chairman of the combine, and 70-year-old Grézel will retire...
...combine plans to take the fullest advantage of a worldwide marketing and manufacturing network set up by Pechiney in more than 20 countries round the globe. In the U.S. alone, Pechiney has 200 sales offices and controls Howmet Corp., an aluminum maker and fabricator, which in 1970 had sales of $250 million. With some 40% of Pechiney Ugine Kuhlmann's sales generated abroad, French officials see the new giant as an answer to "the American Challenge." Already the combine, among many other ventures, is negotiating with the Soviets to help design and build a $500 million aluminum complex...
...French industry and preventing foreign takeovers of French companies; it is composed of four men, all under 40, including the personal assistants of Pompidou and Giscard. Known as the "Four Musketeers," the men have succeeded in denying the Heinz Co. control in Grey-Poupon mustard and in getting Ugine-Pechiney to invest in New Caledonian nickel facilities, thereby countering an expansion move by International Nickel...