BUSINESS ABROAD: Spindles from America

Back in the '20s and '30s, U.S. firms helped build tractor plants in Stalingrad and a steel mill at Magnitogorsk; and U.S. engineers helped build Russia's great dam on the Dnieper.

This strictly business collaboration between Communist and capitalist—generally out of fashion the past twelve years —was revived last week. Intertex International, a New York agency representing some 40 U.S. firms, signed a contract in Moscow to equip a $30 million textile plant at Kalinin, midway on the main road between Moscow and Leningrad.

This will be the biggest diversified textile plant equipped with U.S. machinery to be built anywhere outside...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!