Word: viscosa
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Dates: during 1960-1969
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...biggest boom is in nylon, which is woven into tire cord and tennis nets, safety belts, inflatable domes and underwear. Italy's Snia Viscosa is spending $72 million on nylon expansion, has formed a traveling choir to promote its nylon-based Lilion fiber. Britain's Imperial Chemical and Courtaulds both had to ration nylon shipments to weavers last year, are spending more than $150 million to double their productive capacity. Germany's Glanzstoff and Farbenfabriken Bayer are also doubling their nylon output...
Reversing Trends. Sindona's penchant for joint ventures and foreign partners is the key to his good financial health. After he moved north from Sicily in 1947, he worked as a tax lawyer and accountant for such companies as Societa Generale Immobiliare and Snia Viscosa. In the process he noticed a simple but significant economic fact: while some countries were undergoing slumps, others were almost inevitably in a boom. Sindona reasoned that he could beat the economic cycle by founding firms in various countries, thus covering possible losses with almost certain profits elsewhere...
Franco Marinotti, president of Milan's SNIA Viscosa and an old hand at bargaining with Russians, has his own rule of thumb: speak fluent Russian, offer long-term credit and toss down vodka like a Russian. He does all three...
...less deadly a competitor is massive, baldheaded Franco Marinotti, 70, boss of Snia Viscosa, Italy's biggest producer of synthetic textile fibers. Marinotti, who preaches a cold-blooded business philosophy ("Gratitude is a sentiment possessed mainly by dogs"), did his postwar rebuilding without a cent of U.S. aid. Despite this self-imposed handicap, he pushed Snia into the front rank of industry by automating to cut costs and by instituting a research program so successful in turning up new fibers that, as he boasts, even the U.S.'s Allied Chemical Corp. has signed up to produce Snia...