Word: vacuumers
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INDIAN OIL REFINERY, the biggest single U.S. investment in India, was opened in Bombay last week by Standard-Vacuum Oil Co. Costing $32 million, the new refinery will produce some 25,000 bbls. a day, about one-third of India's petroleum needs...
...elephants, National Research has done well because President Morse, 43, is a rare combination of scientist and businessman. An M.I.T. graduate ('33) who worked for Eastman Kodak until he decided that he could do better on his own, Morse started out with the basic idea that high-vacuum (i.e., removing all the air) techniques could be useful to U.S. business. He and his staff developed machines efficient enough to suck all but a cupful of air out of an area as big as Chicago's Union Station. Then he worked out ways to use vacuum processes to dehydrate...
Morse's first big financial success was frozen orange juice, which he discovered how to make with his high-vacuum process. He helped set up what is now the Minute Maid Corp. in 1945, and after some early marketing troubles, started the frozen-orange-juice boom. Minute Maid grew into the No. 1. U.S. frozen-orange-juice company, with 30% of the market and 1953 sales of $36.4 million. Morse sold National Research's interest in Minute Maid, but he still retains a royalty agreement that will eventually net National Research more than...
With Minute Maid booming, Morse lost no time exploring other fields. National Research went into instant coffee (Holiday Brands, Inc..) and antibiotic drugs, now produces 90% of the drying equipment used by U.S. penicillin makers. For the electronics industry National Research developed high-vacuum machines for TV and radar-tube production...
Into the Crucible. But the most promising field of all is heavy metallurgy, where high vacuum can be used to cast and refine everything from steel to super-pure alloys for jet engines. National Research, which set up Vacuum Metals Corp. to do the basic refining job itself, recently sold a 50% interest to Crucible Steel Co. for 25,000 shares of Crucible stock and $500,000 worth of equipment...