Sources: Montecatini
Montedison and Edison was born in 1966 from the merger of Montecatini and Edison, Montecatini was founded in 1888 in Montecatini Val di Cecina (PI) for the exploitation of local copper mines ; in the '10s came in the chemical sector and 900 in the following decades became by getting patents and acquisitions, the largest Italian chemical company, almost a monopoly in certain products such as sulfuric acid, fertilizers, dyes (through ACNA subsidiary) in 1936, in collaboration with AGIP, constituted the 'Anic (Hydrogenation National Fuel Company) with the aim of producing synthetic gasoline, and that would be the first Italian center of the petrochemical industry. The Edison was born in Milan in 1895 and was one of the first companies to use that energy in Italy was the base of the hydroelectric first Italian industrialization, building dams along the Alps, especially in Lombardy, and already at the beginning of the '900 Edison was one of the dominant industrial groups in Italy, breaking the control of the electricity market in Northern Italy with the SIP, which is concentrated in Piedmont and Liguria, and EDIS, strong in the North East
The war and the early melting
immediately after the war in Italy was expected as the nationalization electricity industry, which had been in the hands of private companies such as Edison itself, the prospect of being subjected to an expropriation of its assets led the power companies to diversify: the Edison chose to invest primarily in the petrochemical industry, attracted also by the incentives granted by the State . In the 50s so the interests of Edison collided with those of Montecatini, in financial difficulties for the large investments required by the construction of petrochemical complex in Brindisi, but the forefront of research into new materials (isotactic polypropylene), thanks to 'industrialization of patents arising from research chemist Giulio Natta, Nobel prize in 1962. In 1962, with the costitiuzione Enel, the electricity industry nationalization did take place, private companies had to deliver their babies in public power plants, receiving in exchange for substantial indennizzi.La same Montecatini in 1963 acquired the former company Electric EDIS, with the sole purpose of appropriating the amount of compensation, but the financial difficulties of Montecatini find solutions only in 1966 with the merger with Edison, too strong of compensation received by the state following the nationalization, the merger was designed by Mediobanca who entrusted the leadership of Montedison managers of the "old" Edison. In 1968, again under the supervision of Mediobanca, Sogame the (financial jointly controlled ENI-IRI) raked in a block of shares held 15-20% of the capital, sufficient to ensure the status of shareholder.
The Seventies In 1971 Eugenio Cefis, former president of ENI, was appointed chairman of Montedison, a position he held until 1977, the press of the Montedison seen more as a tool to achieve Cefis not better laid political plans (also on a coup) rather than as an affiliated with ENI, which held the controlling stake jointly to IRI. The suspicion was corroborated by the acquisition of the newspaper Il Messaggero Cefis and aims of the Corriere della Sera daily newspapers should have been used to increase the political weight of Cefis and its political reference Amintore Fanfani. Apart from that, in the 70 Montedison slipped a long series of budgets in red, just tempered by financial income sought precisely in order to "beautify" the results weakened by the poor performance of industrial management. Despite the presence in the capital of ENI, Montedison it was in fact a self-acting oil with the agency as a competitor, entering it on a collision course especially for the allocation of substantial public support in those years were paid in respect of capital expenditures in the South. Montedison, IRI was able to give some food companies (such as Pai and Pavesi) purchased by Edison in the previous decade, while taking advantage of the creation dell'EGAM to give him the unprofitable mining operations inherited from Montecatini.
The Eighties In 1981 occurred the "re-privatization" of Montedison: under the direction of a consortium groups Mediobanca Agnelli, Pirelli, Bonomi and Orlando acquired the controlling stake in the hands of the public. Thanks to a favorable accounts of Montedison went better, and the president Mario Schimberni it benefits by pursuing a policy of independence from major shareholders, making operations such as the acquisition of the insurance company Fondiaria, against the advice of Mediobanca. For this emerged gradually dall'azionariato major shareholders, while groups entered the "emerging" as the group Varasi (paints), the Ingham (clothing), the Maltauro (construction) and the Ferruzzi group (food), the latter, led by Raul Gardini, came to assume a dominant position gradually through purchases on the Stock Exchange in 1987 and held more than 40% of the capital, becoming a member of the command. The business plan of the Ferruzzi group, active mainly in sugar, cereals and oilseeds, has not yet entirely clear: some say the purchase of chemical giant was due simply to the "megalomania" of the charismatic Gardini, while according to others the Ferruzzi had begun to realize the potential of "green chemistry" (eg in bio-materials or bio-energy), glimpsed possible synergies with their own activities with those nell'agroalimentare dell'Agrimont, the subsidiary that was in charge of agricultural inputs.
The birth of Enimont
In 1988, ENI and Montedison Enimont gave the joint venture (40% ENI, Montedison 40%, 20% floating) its chemical activities: Thus was the covenant between public chemical and private chemical that many hoped for years. The life of Enimont was short and turbulent in 1990 Gardini seemed to aim for an absolute majority of the capital, but in 1991 he yielded all the chemical activities ENI, receiving in return an estimated price later as exorbitant and probably inflated by the tangents paid to political parties.
The Nineties
With the almost total output from the chemicals sector and the reorganization of the Ferruzzi group, Montedison had become a mere holding company that controlled (through a system of "boxes" complicated corporate) companies like Eridania Beghin Say (sugar), Fondiaria (insurance) the Cereol (oilseeds) and Carapelli (olive oil) and the "new" Edison, the parent company for the activities in the energy re-established in 1991 to exploit the opportunities envisaged by the emerging trends towards the liberalization of energy markets. In 1993 Montedison was with unsustainable levels of debt that forced him to relinquish control of the Ferruzzi group of creditor banks, led by the "usual" Mediobanca. The decade was marked by corporate restructuring and the sale and reorganization aimed at reducing debt.
The EDF takeover of Montedison and the end of
Once again, the shareholders 'control' Montedison had no power to protect society from climbers bag. In the spring of 2001 were the French financier Romain Zaleski and the entity electric rake Montedison shares in EDF, EDF came to own approximately 30% of the capital, but the Italian Government opposed the takeover of the French giant, under the pretext of the lack "reciprocity" for Italian companies to scale the French energy companies. In effect, what they were interested in EDF power plants and gas import quotas for the Edison, the prospect of liberalization of the Italian energy market. The stalemate that was created was solved with the establishment of the holding company Italenergia, owned by Fiat, EDF and Zaleski and who controlled most of the Montedison, which in 2002 changed its name to Edison and sold all shares inherited from the former Montedison, becoming in effect an energy group.
activities ex-Montedison
From Enimont each other and with the continuing financial crisis of the Ferruzzi group, Montedison sold many activities, each of which followed different fates, in the twenty-first century there are still some companies that bring in the name their previous membership in the Montedison Group:
Edison disappeared after the merger in 1966, the name was revived in the early '90s as a subsidiary of Montedison for energy activities, and replaced the SELM, after absorbing the electrical activity in the Falck group, in 2001 had become the most important asset of the group and that was what actually was intended when EDF climbed Montedison. He inherited from the "old" Edison of the historical site Foro Buonaparte, Milan.
Tecnimont: working in the field of civil and industrial use in 2005 was sold by Edison Group to Maire Engineering (former Fiat Engineering), giving rise to Maire Tecnimont.
Novamont: based in Novara, is a company specialized in the production of bioplastics made from corn, which received international acclaim for its production of biodegradable materials [1].
Montefibre: name of the former Montedison group active in the production of technical fiber; given to Enimont EniChem subsequently passed in 1997 the property was taken over by the textile group Orlandi. The company still bears the old name and is listed on the Stock Exchange.
Other activities were instead sold and then consumed by other industrial groups, hence the change of name. Most of the chemical activities "traditional" EniChem actually passed in 1991, after the story Enimont, but not so technologically more advanced activities, such as those grouped in Ausimont and Himont, who remained "in the belly" to Montedison until 2002, when the company completed the process of refocusing on energy:
Agrimont (formerly Fertimont): the company of products for agriculture in 1991 was awarded to EniChem, which in turn will give the activities the subsidiary EniChem Agriculture:
-branch pesticides (insecticides, herbicides, fungicides) was sold in 1992 to a newly formed company, the Isagro still active and listed on the Stock Exchange;
-branch fertilizer was sold to Norsk Hydro in 1996 ;
Montedipe and Montepolimeri: these companies specialized in the production of basic chemicals and plastics passed in 1991 EniChem, which remained part of the business (now headed by Syndial and Polimeri Europa) and dismise but others (like the Vinavil, continued by the group Mapei).
Ausimont: specializes in fluorine chemistry and engineering plastics, was controlled by the Montedison group until 2002, when it was released and absorbed by the chemical group Solvay.
Himont: joint-venture between Montedison and the American Hercules, the company that produced polypropylene, was considered one of the "jewels" of the technology group, which in fact did not want to conferila Enimont at the time of its establishment, the successor to Hercules Shell (hence the name Montell), Montedison sold it completely in 1997. Later, after the entry of BASF in 2000 became Basell). In 2005, both BASF and Shell sold the company to a consortium of companies, including Access Industries and Chatterjee Group for approximately € 4.4 billion [2]. Currently (December 2007), after yet another merger (this time with the American Lyondell) has acquired the name of LyondellBasell.
Farmitalia: even the pharmaceutical hub in the business of Montedison entered Enimont, but it was sold a few years later at Pharmacia (now Pfizer), Montedison cherished but the business named Antibioticos, specializing in the synthesis of active antibiotics, which was sold the Fidia Farmaceutici in 2003. Individual plants
specialize in niche products have been absorbed by chemical companies emerging as one of Pallanza (formerly Montefibre), which still produces PET and was recognized in 1989 by the group Mossi & Ghisolfi, or that of Novara (formerly Montedipe), which mainly produces fibers polyamides and went instead to the Radici Group.
Areas former Montedison
L 'adventure' industrial Montedison did not, however, left alone business, but also many plants that were closed or greatly scaled down, creating areas of "ex-Montedison" in all of Italy: Milan
: the area situated in the district of Rogoredo, where until 1970 he produced Rogor the insecticide, is undergoing redevelopment as a residential area (Santa Giulia project-Montecity), another ex-Montedison area is located near the Simplon Pass, where he planned to build a skyscraper with 24 floors. The wide skyscraper that housed the headquarters of Donegani Montecatini is now home to the station Radio 105 and Radio Monte Carlo [3].
Ferrara
Pescara Porto Recanati
Assisi
Crotone Porto Empedocles
Castellanza
Brindisi
In each of these sites resulted in termination of employment difficulties for the people and the complex search for new ways to use the huge brownfield sites, which require including remediation of pollution from industries.
History logo
There are several versions about the origin of the logo that identified the Montedison and its subsidiaries:
the site of Edison ([2]) reports that it was specifically designed by U.S. firm Landor in 1972 to identify the Montedison and all other group companies;
another version claims that the logo was made casually scribbling the inside of a paperclip on several points, he noticed a chart on his valuable communication and thought it might be that the logo represent for Montedison;
a third version says that the logo of the Montedison Group, was designed during a general meeting in the north of Porto Marghera petrochemical Niero by engineer Cesare (born 1925), captain nitrogen fertilizers and the nitrate and nitric acid (Dipa: Agrimont, Fertimont, Montecatini (former Fiat) nitrogen), drawing 4 clips sheets, arranged at 45 degrees as if to indicate "an eagle soars, then remembered as an eagle (the most regal of birds) of Montedison, the most regal in the chemical industry and refinery.
In 1992, when the Montedison was already in his later years, his logo was printed on the side of Il Moro di Venezia, the boat of Raul Gardini, produced at Tencara who came to the America's Cup It also served for several years to identify the Standa, when it was owned by Montedison.
Presidents
Giorgio Valerio (1966-1970)
Merzagora Caesar (1970)
Campilli Peter (1970)
Cefis Eugenio (1971-1977)
Giuseppe Medici (1977-1981)
Mario Schimberni (1981-1987)
Raul Gardini (1987-1991)
Joseph Pinkney (1991-1992)
Arturo Ferruzzi (1993)
Guido Rossi (1993-1995)
Luigi Lucchini (1995-2001) Umberto Quadrino
(2001-2002)
References
Characters
Enrico Bondi was Managing Director of Montedison in the 90s
Enrico Cuccia encouraged the merger of Montecatini and Edison
Places
Marghera chemical plant Pallanza
Ferrara Polo chemical companies of the Montedison group
ACNA
Agrimont, now Yara
Alimonti
Ausimont
Ausidet
Ausind
Dutral
Antibioticos
Carlo Grass
Châtillon
DIPA
Enimont
Eridania Beghin-Say
Farmitalia
Farmoplant pesticide Rogor
Fertimont, former Fiat Fiat Vetrocoke
nitrogen fertilizers, then Italian Glass (SIV), now Pilkington
Himont
Istituto Guido Donegani
Mapei Group Vinavil Merak
Metalmont
Montedipe
Montefibre
Italian Society Italian Society
Nylon Polyester
SIPA - Italian Society for acrylic products
Montefluos, then Montesolvay, now Solvay Fluor Italy
Montepolimeri
Monteshell
Montevecchio, also known as Lead-Zinc
Moplefan
Montoil already Olimont
NEOFIL
Novamont
Polymer
Rhodiatoce
EventsManager - Electrical Services Montedison
Standa
Taban, a former area of \u200b\u200bNailonplast Montefibre
Tecnimont
Tencara
Vinavil
Notes ^ The establishment of Novamont dates back to 1990 when it was controlled by Ferruzzi Montedison, this suggests that actually existed possible synergies between the two groups, although the field of bioenergy was then still in its infancy. See also the website of Novamont (
^ * ^ News of the purchase on Polimerica.it
http://www.bathroomdesign.it/CS12-BATHROOM.pdf
Bibliography
Franco Briatico, Ascesca and decline of public capital in Italy. events and protagonists, Il Mulino, 2004
G. Baldi, Powerful System, Basic Books, 1976 N.
Crepax, History of industry in Italy, Il Mulino, 2002
M. Mucchetti, fire bosses?, Feltrinelli, 2004
C. Peruzzi, Chance Ferruzzi, Il Sole 24 ore publisher, 1987
