Word: pechiney
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...first molten aluminum was tapped last week from the pots of the new $135 million Intalco plant, which will be the third biggest aluminum-producing plant in the world when its three potlines are on stream. The owners of Intalco- American Metal Climax, Howmet and France's Pechiney Co.-were attracted by cheap, abundant power from the Bonneville grid, cheap land, sheltered deep water and fine living for employees...
...investment in Rumania that exceeds $50 million. Italy's Orlandi is building a $1,000,000 bakery in Rumania; Pepsi will soon be bottling in Rumania; the Japanese sell ships to Rumania in exchange for timber, which the Japanese then cleverly turn into musical instruments. France's Pechiney has a contract for an aluminum plant at Slatina; Sweden's ASEA is building $10 million worth of electric locomotives to replace Rumania's wheezing steam behemoths. Chatillon of Milan has a rayon-cord-tire factory in the works near Brăila, while Italy's Carle...
Patience of Penelope. The combine is led by France's biggest aluminum maker, Pechiney, but substantial minority interests are held by Shipping Magnate Stavros Niarchos (21%), the U.S.'s Reynolds Metals (17%) and the Greek government (12%). Pechiney put up half the capital, has nine men on the 18-member board of directors, among them its own director-general, Pierre Jouven, who is chairman of the new company. What drew Pechiney to Greece, aside from the plentiful bauxite? Cheap labor, one of the Mediterranean's deepest harbors at Antikyra, and the Greek government's promise...
...cartels to Common Market tariff cuts. But the leaders of the great corporations believe that they can compete well against their foreign counterparts and like the prospect of selling more to Germans or Italians. In the business magazine Entreprise, 20 of France's most prominent executives-including Pechiney's Chairman Raoul de Vitry, Rhone-Poulenc's Chairman Wilfred Baumgartner and T.S.F.'s (electronics) Chairman Maurice Ponte-came out in support of the market. In a speech opening Marseille's international trade fair last week, Emile Roche, a leading banker and industrialist, said: "Our economy deserves...
...need for new power plants outpaces their construction. In a seven-year program, Australia is doubling its electrical output, partly to serve such expanding aluminum giants as Alcoa, Alcan, Kaiser and Pechiney. Iran has completed a new water and power project that is hailed as a Middle East TV A and will soon include an $800 million petrochemical complex. Brazil desperately needs more power; in the industrial city of Sao Paulo, which boasts steel mills, auto plants and TV antennas on slum roofs, 30% more power is needed than is produced...