Word: thyssens
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...competition in the steel market, mergers to streamline production are becoming a must for survival. For a year now, 29 German steel producers have been coordinating their sales and investments through four regional cartels regarded as laboratories for eventual mergers. Last week two major steel companies, the legendary August Thyssen-Hütte and the oldest Ruhr steel producer, Hüttenwerk Oberhausen A.G. (HOAG), announced merger plans that would make them the world's fourth largest steel company, after U.S. Steel, the recently nationalized British Steel Corp. and Bethlehem Steel...
...companies that were officially taken over by the government account for over 90% of Britain's 32 million-ton steelmaking capacity, control 60% of its known iron-ore deposits. British Steel Corp. will be a single company, one-third larger than the next biggest steelmaker in Europe (August Thyssen-Hiitte), divided into four geographical groups. "We tried to build the thing logically, taking into account geography, product and raw-material supply," said Lord Melchett...
...stars. A favorite society astrologer is lissome "Cappy" Badrutt, the California-born wife of the proprietor of the Palace Hotel in St. Moritz, who has done horoscopes for Rita Hayworth, Paris Vogue Editor-in-Chief François de Langlade, the Aga Khan, Mrs. Herbert von Karajan, and Baroness Thyssen. Cappy says that a growing number of businessmen are also interested in the practice, because "in these times of uncertainty, people are groping for an answer...
...National's curators now attribute it to Rogier van der Weyden. They suspect that St. George is one part of a diptych whose matching half, which also bears the seal of Prussia's former ruler Frederick the Great on the back, is owned by Baron Thyssen-Bornemisza in Switzerland...
...Rheinische Stahlwerke, whose industry orders are down to a two-month backlog, cut the work week for 1,500 men. Britain's Richard Thomas & Baldwin-the only large steelmaker still nationalized-announced plans to shut down two open hearths at Ebbw Vale, thus idling 300 men. Giant August Thyssen-Hütte, Europe's biggest steel company, gloomily expects to cut its work hours soon...