Soda-Fabrik, and Farbwerke Hoechst— have been increasing their U.S. holdings at an impressive rate. Bayer owns Verona Pharma Chemical Corp., has a substantial interest in Chemagro Corp., and owns 50c/c of Mobay Chemical (Monsanto owns the other 5 0 % ) . Through its U.S. holding company, Intercontinental Chemical Corp., Hoechst owns Lloyd Brothers (C&EN, July 25, 1960, page 2 1 ) , Hoechst Chemical Corp., West Warwick, R.I., Carbic-Hoechst Corp., Mountainside, N.J., Hostachem (its U.S. distributor), and has a majority interest in Azoplate Corp., Murray Hill, N.J. And Badische owns Putnam Chemical Corp., and 50% of Dow Badische (Dow Chemical also owns 5 0 7 ). Why Invest. One reason why foreign investment is growing in the U.S. is that foreign companies now have more money to invest than previously. Foreign chemical companies don't necessarily have greater wealth than their U.S. counterparts, but they do have ample currency. Spencer Chemical feels that Great Britain's Fisons purchased 3CA (90,000 shares) of its common stock merely for investment purposes (C&EN, March 6, page 28). Spencer did not elect a Fisons representative to its board of directors. Courtaulds' J. Albert Woods says that Courtaulds has been considering investing some of its available funds in the U.S. chemical and plastics industry for some time. Global Interests. International marketing experience, broader market areas, new joint ventures, and the exchange of technical know-how are a few of the more direct reasons for forming a chemical company with global interests. Both Koppers and Minerals & Chemicals are planning to put the international experience of their foreign investors to work. Minerals & Chemicals has elected Piero Giustiniani, managing director of Montecatini, to its board of directors. Mr. Woods and Arthur W. Knight, a director of Courtaulds, Ltd., have both been elected to Koppers' board. "By associating ourselves with one of the strongest companies in Europe, we now have a board of directors with international experience in chemicals," Charles Specht, president of Minerals & Chemicals emphasizes. Montecatini's and Courtaulds , experience should help strengthen Minerals & Chemicals' and Koppers' position in world markets. 32
C&EN
JULY
17,
1961
Schools Must Boost Science Outlays Increase to $8 billion in spending for education of scientists and engineers and in basic research will be needed by 1970 In 1970, the U.S. is expected to have nearly twice as many scientists and engineers as it has now. To educate this number of people in science, U.S. colleges and universities will have to increase their outlays for science and engineering education and for basic research from S3 billion this year to more than $8 billion in 1970, the National Science Foundation says. Professional scientists and engineers and teachers of science now number 1.4 million. They are expected to increase to 2.5 million by 1970, according to NSF. As a result, colleges and universities will need to increase their professional and assisting scientific and engineering staffs from 200,000 at present to 350,000. And they must increase their basic research staffs from 80,000 to 150,000 people, NSF feels.
More Spending Needed. The costs of such an increase in educational effort will also increase greatly. The present annual outlay for science and engineering education and for basic and applied research is about $3 billion, NSF says. Even with this
outlay, colleges and universities now have deficits of $300 million worth of teaching equipment and $500 million worth of laboratory buildings for basic research. In addition to making up these deficits, they must boost spending to provide $200 million annually for teaching equipment over the next 10 years, increase annual spending to $360 million by 1970 for laboratory buildings, and spend up to SI80 million a year by 1970 for research equipment. About $3.5 billion must be spent for classroom buildings over the next 10 years. During the next decade, the National Science Foundation estimates, national investment in science and engineering education must increase from a total of $2.1 billion in 1961 to $5.5 billion in 1970. For basic research in colleges and universities outlays must increase from $0.9 billion to $2.7 billion. Spending on professional staff salaries at colleges and universities will have to increase from about $800 million a year now, NSF adds, to about $2.1 billion in 1970.
University Spending on Science May Almost Triple by 1970 Expenditures of Colleges and Universities, by type (millions of dollars) Salaries —
|
Expenses ^ ^ ^
Equipment and Facilities
Education in Science and Engineering
Basic
2000 —
1961 Source: National
1970 Science
Foundation.
Research
