Stuttgart - Daimler AG and AKKA Technologies S.A. MBtech Group, an internationally leading engineering and consulting company based in Sindelfingen, in the future. The entry of AKKA Technologies at MBtech Group will create one of the biggest European engineering consultancies. AKKA Technologies is a listed company and is an engineering consultancy for the automotive, aeronautics, space, transport and energy sectors. In the area of aeronautics engineering, the company is already the market leader in Europe. In the future, that position will be held by AKKA Technologies and MBtech also in the automotive sector, where the Sindelfingen company has its focus. Together with the new majority shareholder, MBtech will broaden its competence profile outside the automotive industry and expand its international market position in the coming years. Technologies intend to jointly develop the company and to strengthen its competitiveness on a sustained basis. This will protect jobs at MBtech while offering new opportunities for the workforce in an expanded international environment. “With AKKA Technologies, we have found a strong and well-established partner whose product offering is an ideal supplement to MBtech’s activities. The MBtech Group was established by Daimler AG in 1995. The company develops, integrates and tests automotive components, systems and modules, and employs 2,900 people at locations in Europe, North America and Asia. In the year 2010, it posted revenue of 300 million euros.
Nevertheless, cheaper international exploration costs spurred Standard (Indiana) to again become active in the growing foreign oil arena that it had all but left in 1932 when it sold Pan American's foreign interests. To handle international land leasing and joint ventures, the company organized Pan American International Oil Corporation in New York, as a subsidiary of Pan American Petroleum. The traditional oil industry profit arrangement for international activities had been an even split between the company and the host government, although several firms had quietly bent the guidelines. The late 1950s also saw domestic reorganization. In 1957 the company consolidated nine subsidiaries into four larger companies. Stanolind Oil & Gas Company became Pan American Petroleum Corporation, consolidating all Standard Oil (Indiana) crude oil and natural gas exploration and production. American Oil Pipe Line Company, a former subsidiary of American Oil, was merged into Service Pipe Line Company--which had been known as Stanolind Pipe Line Company until 1950--focused on oil transport.
Crude oil and natural gas purchasing operations were combined to form the Indiana Oil Purchasing Company; and Amoco Chemicals Corporation consolidated all chemical activities into a single organization. In 1960 company President John Swearingen succeeded Prior as chief executive officer, the chairmanship being left vacant. Swearingen turned both domestic and foreign operations over to subsidiaries, making Standard Oil (Indiana) entirely a holding company. Operating assets were transferred to the American Oil Company, into which the Utah Oil Refining Company also was merged. American Oil's responsibilities now included the manufacture, transport, and sale of all company petroleum products in 45 states, although limited marketing operations in three other states also were maintained. This consolidation allowed the company to develop a national image and provided more efficiency in staff use and storage and transport flexibility. Coverage being national, the company was able to advertise nationally and demand better rates from ground and air transporters.
Standard (Indiana) also became concerned with product trade names. The 1911 breakup had left several former Standard (New Jersey) subsidiaries in different areas of the country with the Standard Oil name and rights to the associated trademarks. American Oil thus had the right to use the Standard name only in the 15 midwestern states that had been the company's original territory. Thus, in 1957, the word "American," together with the Standard Oil (Indiana) logo, was used in all other states. 153.9 million. Continuing with methodical reorganization, Swearingen oversaw the expansion and modernization of the company's domestic refining capacity as well as 11 of its 14 catalytic cracking units. Because only 8 percent of its assets was located overseas, Standard (Indiana) still lacked a large foreign market for crude oil. Swearingen moved swiftly to close the gap. By 1964 foreign explorations were taking place in Mozambique, Indonesia, Venezuela, Argentina, Colombia, and Iran.
Refining and marketing also were flourishing, through the acquisition of a 25,000-barrel-per-day refinery near Cremona, Italy, and about 700 Italian service stations. About 250 service stations also were opened in Australia in 1961, along with a 25,000-barrel-per-day refinery. Other foreign refineries were to be found in West Germany, England, Pakistan, and the West Indies. In 1967 Standard began production in the Persian Gulf Cyrus field, by which time the huge El Morgan field in the Gulf of Suez was producing 45,000 barrels daily. The market for Standard's chemical products also increased during the mid-1960s. To keep pace with demand for the raw materials used in polyester fiber and film, the company built a new facility at Decatur, Alabama, in 1965, adding another in Texas City, Texas, a year later. There were also 641 retail chemical fertilizer outlets in the Midwest and the South. The popularity of polystyrene for packaging also grew.
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