Business & Finance: Asbestos Merger

Easy money continues to favor mergers and consolidations throughout business in the U. S. One of the latest industries to show this tendency toward the larger unit of management is that concerned with the production of asbestos.* North America produces 85% of the world's asbestos, the remaining 15% coming from South Africa. Practically all the North American output comes from Canada, where many small companies have hitherto operated. Under the tutelage of Dillon, Read & Co., the industry is being reorganized as a single corporation, capitalized at roughly $50,000,000, and embracing eight...

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