BUSINESS ABROAD: Rubber for Italy

Enrico Mattei, handsome boss of Italy's big Ente Nazionale Idrocarburi state oil and gas monopoly (TIME, Nov. 29), flew across the Atlantic last week to make a deal that will give his country its first doorway into the synthetic-rubber industry. In Manhattan, Mattei signed contracts with Phillips Petroleum Co. and Union Carbide & Carbon Corp. for their processes and help in building a $75 million synthetic-rubber plant at Ravenna, in the Po Valley. It will turn out 35,000 tons of GR-S rubber and 350,000 tons of nitrogen fertilizer annually from nearby methane deposits. The plant will be not...

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