Corporate profiles compiled by George Draffan
Public Information Network, PO Box 95316, Seattle WA 98145-2316 USA
FAIR USE NOTICE: This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political and economic issues.
IBJ see Industrial Bank of Japan
IBM (INTERNATIONAL BUSINESS MACHINES)
Old Orchard Road, Armonk NY 10504
telephone 914-7665-1900 fax 914-765-4190
Began in the 1910s with punch card tabulating machines; now the largest computer maker in the world. Of its 1991 sales of nearly 65 billion, 38 percent was in the U.S.; 40 percent was in Europe; 14 percent was in Asia and the Pacific; and 8 percent was in the Americas (Hoover's Handbook of American Business 1993, p. 339).
Has a $20 million 50/50 joint venture with India's Tata group to make PS/2 computers and software in India (Fortune, Nov. 16, 1992, p. 129).
About to receive a license to open an office in Vietnam, according to Vietnamese officials (Reuters, Seattle Times, May 21, 1993, p. C11). IBM and Digital Equipment have signed agreements to help Vietnam plan $300 in information technology purchases over the next seven years (Seattle Times, Jan. 5, 1994, p. D6).
IBM manages the Internet in its ANS venture with MCI; see the entry for the National Information Infrastructure.
IBP (Iowa Beef Packers)
"The U.S. Justice Department filed a 15-count lawsuit against meatpacking giant IBP Inc. [in January 2000], accusing the company of violating five federal environmental laws at its Dakota City, Nebraska, plant. The lawsuit alleges that IBP, the world's largest producer of fresh beef and pork, has "repeatedly" avoided complying with federal environmental laws and procedures for hazardous waste; has discharged excessive amounts of ammonia, nitrogen, fecal contaminants and chlorine into the Missouri River; and has discharged illegal amounts of sulfur dioxide and hydrogen sulfide in the air (). Lois Schiffer, assistant attorney general for environment and natural resources: "Companies that take short cuts in controlling pollution threaten our environment. We will hold them accountable" (U.S. DOJ release, Jan. 12). In a three-page rebuttal to the government's accusations, IBP spokesman Gary Mickelson said, "This lawsuit will benefit no one. ... It only further delays the environmental improvements we have been trying to make at Dakota City since 1997." The $730,000,000 Question If found guilty, IBP could be fined as much as $400,000 a day for violations over the past five years." (Greenwire, Jan. 13, 2000; citing Elliot Blair Smith, USA Today, Jan. 13; and Jake Thompson, Omaha World-Herald, Jan. 13, 2000).
For background on IBP, see Al Kreb's Corporate Agribusiness Research Project http://home.earthlink.net/~avkrebs/CARP/tiller/
1-1, Marunouchi 3-chome, Chiyoda-ku Tokyo, Japan
telephone (03) 3213-3111
Offices in Houston Texas, Beijing China, Sydney Australia, London England, Kuala Lumpur Malaysia, and Singapore (Whole World Oil Directory 1991, p. 144).
Idemitsu is "Japan's largest independent oil & energy resources company", with oil refining, gasoline service stations, coal, and prepared feed operations (Worldscope database record, 1992).
Idemitsu has oil operations in Brazil (The Ecologist 19(6):219-224 (1989).
With BP Chemicals, Idemitsu has an agreement with Petronas (the national oil company of Malaysia) to build an ethylene plant and a polyethylene plant) in the northeastern coastal state of Terengganu (Chemical and Engineering News, Mar. 12, 1990, p. 15).
Idemitsu began oil exploration in Burma in 1989, but later pulled out (Dara O'Rourke, "Oil in Burma: Fueling Oppression," Multinational Monitor, Oct. 1992; Burma Issues, Nov. 1993, p. 6).
I.G. FARBEN TRUST
I.G. Farben was a German chemical trust formed in 1925 from the cartel between Hoescht, BASF, Bayer, and other German companies. In response to the formation of Farben, the Swiss chemical companies Ciba, Geigy, and Sandoz formed Basel AG; and British companies, including Nobel Industries, formed Imperial Chemical Industries (ICI). Farben and Basel themselves merged from 1929 to 1939. Bayer made the first poison gas used by Germany in World War I; Bayer's U.S. operations were seized in 1917 and sold to Sterling Drug. Geigy invented DDT in 1939; a Nobel prize was awarded for its invention. Farben and the Nazis used Auschwitz concentration camp labor to manufacture synthetic rubber. Farben was broken up after World War II, and Basel dissolved itself in 1951 (Hoover's Handbook of World Business 1993, p. 138, 144, 188, 256, and 270).
See Joseph Borkin's The Crime and Punishment of I.G. Farben (New York: Free Press, 1978).
IHLO SALES & IMPORT CO.
Box 792, Center, TX 75935
Sells lauan, sen, agathis, teak, Japanese oak, ramin, kapur, African mahogany, meranti, melapi, and mersawa wood from Taiwan, Korea, Indonesia, Philippines, Japan, Singapore, and South America (Rainforest Action Network database, August 1989).
IMPALA PLATINUM HOLDINGS
Also involved in Russian mining; South Africa and Russia produce more than 90 percent of the world's platinum (see "Russians, South Africans Join Forces on Mining," by Neil Behrmann, Wall Street Journal, June 17, 1992, p. C1).
IMPERIAL CHEMICAL INDUSTRIES (ICI)
Millbank, London SW1P 3JF, England
telephone (44) 1 834 4444
645 Fifth Ave, New York NY 10022
ICI was founded in 1926 by Nobel Industries, Brunner, Mond, United Alkali, and British Dyestuffs, in response to the German chemical trust I.G. Farben. Has long been allied with Du Pont, whose operations were halted by U.S. anti-turst action in 1952. ICI makes chemicals, paints, industrial explosives, fertilizers, pesticides, drugs, acrylics, polyester film, polyuerethane. Employs 121,000 people, 20,000 of them in the U.S. (The Global Marketplace, 1987; and in Hoover's Handbook of World Business 1993, p. 270-271).
The Council on Economic Priorities produced an environmental report on ICI in 1991-92 ($20 from CEP, 30 Irving Place, New York NY 10003, 1-800-729-4237).
One of the main European producers of chlorofluorocarbons (CFCs).
IMPERIAL OIL see Exxon
Imperial Oil is a Canadian subsidiary of Exxon, with the Ioco Refinery in Port Moody British Columbia, the Strathcona Refinery in Edmonton Alberta, the Sarnia Refinery in Ontario, the Dartmouth Refinery in Nova Scotia, the Norman Wells Refinery in North West Territories, and Esso Resources Canada in Calgary Alberta (Whole World Oil Directory 1991, p. 144).
Box 554, Zagreb Yugoslavia
Oil exploration, developpment, and production in Tunis, Libya, Eqypt, and Iraq (Whole World Oil Directory 1991, p. 144).
Inchcape owns 30 percent of PNG Forest Products, a plywood mill in Bulolo, Morobe, Papua New Guinea; the other 70 percent is owned by the PNG government (Asian Timber, Jan. 1992, p.7).
Inchcape has a representative office in Vietnam (Multinatiuonal Business, No. 5, Spring 1992, p. 25).
Royal Trust Tower, Toronto-Dominion Centre, Toronto, Ontario M5K 1N4, Canada
telephone 416-361-7511 fax 416-361-7781
International Nickel, Inc., One New York Plaza, New York NY 10004
telephone 212-612-5500 fax 212-612-5770
INCO Alloys International, 3200 Riverside Drive, Huntington WV 25720
Rio de Janeiro, Brazil telephone (55) 21 275 1196
Golania, Brazil telephone (55) 62 293 8670
Lae, Papua New Guinea (as INGOLD) telephone 675 45 1020
International Nickel Company was created in New Jersey in 1902 by J.P.Morgan, Orford Nickel and Copper, Canadian Copper, and several smaller companies. A Canadian subsidiary was created in 1912. The Canadian wing became the parent in a 1928 restructuring. In 1929 it bought the British refiner Mond Nickel, and by the 1950s produced 85 percent of the non-Communist world's nickel. Inco now supplies a third of the world's nickel, as well as copper, platinum metals, gold, silver, cobalt, sulfuric acid, and liquid sulfur dioxide. Inco produces nickel in Canada (Sudbury, Ontario) and Indonesia and has refining operations in Canada and Wales. It has metal alloy plants in the UK and the U.S. It bought Consolidated TVX Mining in 1991 and sold a third of Exploraciones y Exploitaciones Mineras Izabel to the Guatemalan government (see Guatemala entry below). Inco is considering a diamond mine in Ghana. Inco subsidiaries include LaQue Center for Corrosion Technology, Western Aggregates, International metals Reclamation, Continuous Mining Systems, and Inco Venture Capital Management. It had 1989 sales of $3.9 billion (and a profit of nearly 20 percent) and 1991 sales of $2.9 billion (with a profit down to less than 3 percent of) (Hoover's handbook of World Business 1993, p. 274). Primary metals accounted for 77 percent of Inco's 1991 sales; alloys and engineered products accounted for another 21 percent. Sales were in Canada (42 percent), the U.S. (21 percent), Europe (19 percent), and other (17 percent) (Worldscope database record).
Guatemala - Inco nickel project shut down in 1982 due to high energy costs and low nickel prices. The Guatemalan government was assuming 30 percent of the costs (Engineering & Mining Journal, Feb. 1992, p. 15).
New Caledonia - Inco is working with BRGM to develop nickel in southern New Caledonia (Engineering & Mining Journal, Feb. 1992, p. 13).
See Jamie Smith and the Development Education Centre's The Big Nickel: Inco at Home and Abroad (Kitchener, Ontario: Between the Lines, 1977).
INDAH KIAT see Sinar Mas
6110 Plumas Street, Reno NV 89509
In 1990, Freeport-McMoRan Gold Co. was purchased by the Minorco subsidiary of the infamous South African Anglo-American Corporation; the name was changed to Independence Mining (Hoover's Handbook of World Business 1992, p. 151). See entries for Freeport McMoRan and Anglo-American.
INDO MOBIL GROUP
In 1990, a joint venture was announced between Indo Mobil Group, Mazda, Minolta, and Sumitomo to make and assemble Mazda cars in Indonesia (Hoover's Handbook of American Business 1992 p. 237).
INDUSTRIAL BANK OF JAPAN (IBJ)
3-3 Marunouchi 1-chome, Chiyoda-ku Tokyo
Has 15 main brances, 17 representative offices, and 15 major subsidiaries. Offices in New York, Los Angeles, Washington DC, Toronto, Mexico, Panama, Rio, London, Paris, Berlin, Zurich, Bahrain, Hong Kong, Beijing, Bangkok, Seoul, and Australia.
Pioneered Japan's project financing in the 1950s; helped restructure Nissan and create Nippon Steel. Clients include over 90 percent of Japan's top 200 companies. Underwrote 250 of the 562 bond issues which Japanese corporations raised overseas in 1991 (all from IBJ advertisement in Business Week, Mar. 15, 1993, p. 82).
Owned by U.S. national Henry Robbins-Cohen; runs Guatemalan maquiladora factory that sells clothing to Sears, K-Mart, and Montgomery Ward (Multinational Monitor, Nov. 1991, p. 25).
INFORMATION SUPERHIGHWAY see National Information Infrastructure
INGOLD see Inco Ltd.
Indonesian state-owned forestry corporation active on the outer islands since 1967 (SKEPHI, 1990, Selling Our Common Heritage, p. 8).
Involved in an Irian Jaya, Indonesia, eucalyptus pulp and paper scheme with Scott Paper. Scott apparently pulled out in October 1989, but Astra is continuing with the state-owned Inhutani II (Reuters, Nov. 27, 1990; World Rainforest Report, Apr-May 1991, p. 5; and Tropical Echoes, Winter 1990, p. 8).
Astra, Shell (Shell Nusantara Forestry BV), and Inhutani signed an agreement for the development of 100,000-hectares of tree plantations over ten years in South Kalimantan, Indonesia (World Rainforest Report, No. 21, Feb. 1992, p. 26, citing Jakarta Post, Dec. 19, 1991). Shell was later to drop out (see Shell).
250 Park Ave., 17th Floor, New York NY 10177
Owned by Minorco, which is owned by Anglo American of South Africa. Involved in copper, zinc, gold, silver, nickel, and coal. Also has a billion-dollar U.S. agribusiness (Forbes, July 20, 1992, p. 292).
INSULATION CONTRACTORS UNLIMITED (ICU)
Ten-year permit to dump 36,500 cubic yards of asbestos per year at Dzilth-Na-O-Dith-hle (Huerfano Mt.area), Navajo lands in New Mexico. "Dumping on Native Americans," Multinational Monitor (Oct. 1991, p. 7).
200 Mission College Blvd, Santa Clara CA 95052
Semiconductor manufacturer dominating the U.S. market for computers; but half its sales are outside the U.S. Intel has manufacturing plants in the U.S., Israel, Ireland, Malaysia, the Philippines, and Puerto Rico (Hoover's Handbook of American Business 1993, p. 336).
Intel received subsidies from Washington State (see article on Intel in Du Pont, Washington, in Seattle Times, June 30, 1996).
Bibliography on Intel:
Southwest Organizing Project, Southwest Network for Environmental and Economic Justice, Campaign for Responsible Technology. Intel... Inside New Mexico. Albuquerque, NM: Southwest Organizing Project, 1994
INTERCOR see Exxon
INTERNATIONAL BUSINESS MACHINES see IBM
INTERNATIONAL FOREST PRODUCTS (INTERFOR)
One of the main companies involved in the controversial Clayoquot Sound logging on 260,000 hectares on the west side of Vancouver Island; in 1993, more than 800 people were arrested for civil disobedience (Ancient Forest International's News of Old Growth, Winter 1993/94, citing Friends of Clayoqout Sound, Box 489, Tofino BC, V0R 2Z0, 604-725-4218 and the Western Canada Wilderness Committee, 20 Water Street, Vancouver BC, V6B 1A4, 604-683-8220).
Anglo Granite Ltd. is a joint venture between Angola's ornamental stones company Roremina and International Granite of Namibia (Mining Magazine, Aug. 1991, p. 103).
INTERNATIONAL NICKEL COMPANY see Inco
INTERNATIONAL PAPER click here for a detailed profile of IP and here for IP's overseas expansion
Two Manhattanville Rd, Purchase NY 10577
Established as a newsprint producer in 1898 throuht the merger of 20 New England paper mills. Run by the Hinman family from 1943 through the 1960s. Early foreign ventures included operations in Canada in 1959; Colombia, Mexico, and Puerto Rico in 1960; and Spain and Italy in 1962. Oil and gas operations from 1975 to 1979. Former Du Pont executives ran IP in the 1980s, during which IP acquired photographic film, chemicals, and nonwoven fabrics operations in the 1980s. Bought Masonite in 1988. IP transferred six million acres of U.S. timberlands to a separate corporation, IP Timberlands; by the end of the 1980s, IP controled seven million acres of timberland and 5.6 million acres of oil, gas, and mineral (lead, zinc, gold, kaolin, and lignite coal) holdings (Moskowitz et al, Everybody's Business, 1990 edition, p. 496-498; and Stafford and Purkis, Directory of Multinationals, 1989), and had 213 facilities in 25 countries, and sales in 1991 of $12.7 billion (Hoover's Handbook of American Business 1993, p. 342). Until Georgia-Pacific surpassed it in the late 1980s and early 1990s, IP was the world's largest paper producer. IP spent $5 billion during the 1980s modernizing their plants (Everybody's Business, 1990 edition, p. 496-498).
U.S. land and timber ownership in the early 1990s (Forest Industries 1991-92 North American Factbook, p.189):
Southern U.S. 4,200,000 acres
Western U.S. 600,000
In the early 1980s, IP owned 7.1 million acres in the U.S (Ellefson and Stone, 1984).
In the early 199os, IP owned about 100,000 acres of timberland in Southwest Washington, and exported 80 to 100 million board feet of raw logs through the Port of Longview (Longview WA Daily News, Nov. 10, 1992), and owned 980,891 acres in Maine (Native Forest Network Fact Sheet: The Northeastern U.S.; Burlington VT, 1993, citing the Bangor Daily News).
Financials Net sales Net income
1995 18.496 439
1991 12.703 399
1990 12.960 569
1989 11.378 864
1988 9.587 754
1987 7.800 407
1986 5.540 305
Source: Forest Industries 1991-92 North American Factbook, p.188-189; Hoover's Handbook of American Business 1993, p. 342; Business Week 1000, July 8, 1996, p. 70.
In 1990, IP's U.S. facilities included 10 sawmills (870 million board feet); 2 softwood plywood and an OSB plant (731 million square feet, 3/8" basis); and hardboard, MDF, insulation board, particleboard, and wood treating plants (Forest Industries 1991-92 North American Factbook, p.189).
In 1986-87, there were bitter labor strikes at four IP plants; the biggest was at Jay, Maine, where 1,200 workers struck for 16 months in protest of layoffs and wage cutbacks; organizers included Ray Rogers, Corporate Campaign, 51 East 12th Street, New York NY 10003, (212) 979-8320.
Ties to environmental organization:
In 1993, Conservation International chairman and CEO Patrick Noonan was elected to the board of directors of International Paper (Wall Street Journal, Dec. 16, 1993, p.B6).
After 1993 agreements with timber transnationals, Mexican President Salinas had promised "to create the political conditions to establish immense commercial plantations for rapid growth." In 1995, IP wrote a letter to the president of Mexico saying that its projections of a proposed Chiapas project were not positive and that the political environment represented a high risk (Viviana. U.S. Paper Companies Conspire to Squash Zapatistas. Earth First!, Mar-Apr. 1997, p. 8).
In 1996, IP has expressed an interest in buying Chihuahuan Sierra Madre pine and encino secondary material for paper pulp. IP chose the Ejido of San Alonso to begin its operations, where it plans to carry out a pilot project of "sustainable forest management in strict harmony with the values and traditions of the Tarahumaran culture and ecological policies." San Alonso Ejido is located in what is known as the Lower Tarahumara in the municipio of Urique in the heart of the Sierra Madre Mountains in the State of Chihuahua, northern Mexico. 95% of San Alonso ejido's population is Raramuri or Tarahumara (the largest of four indigenous groups that inhabit the Sierra). Forestry began in San Alonso in the 1960s; currently most of its production is in the form of timber and secondary material used to produce cellulose for the paper industry. From January to June 1996, IP conducted a series of visits to the Sierra Madre to initiate contracts with some ejidos. The current purchasing contract between the ejido and IP was signed at the ejido assembly on June 7, 1996. The middlemen who negotiate timber contracts and control the ejido intimidate the other ejido members to keep them from expressing their views and stiffle those who disagree with the International Paper contract. On August 21, 1996, the Commission of Solidarity and Defense of Human Rights (COSYDDHAC) received a document signed by 13 ejido members from San Alonso who expressed their concern and opposition to the form and intensity of the logging operation that is underway in their ejido because they consider it to be in violation of and in detriment to their natural resources. On August 31, 1996, thirteen ejido members lodged a complaint with SEMARNAP (Secretariat of the Environment, Natural Resources and Fish), denouncing the overexploitation of the forest and requesting that all work related to the International Paper Co. contract be immediately suspended (Memo from Commission of Solidarity and Defense of Human Rights A.C., COSYDDHAC, Chihuahua, Chih. Mexico, to: Regional, National, and International Human and Environmental Rights NGOs and concerned world citizens, Oct. 15, 1996. Email email@example.com).
International Paper bought a majority share of New Zealand-based Carter Holt Harvey in 1995; CCH, with 815,000 acres of radiata pine, is the largest owner of timber in NZ (Szabo, Liz. 1996. Timber giant may invest overseas. Seattle Times, July 5, 1996, p.D1, D4).
Paper Industries Corporation of the Philippines is an International Paper subsidiary (Who Owns Whom 1990: Australia & Far East).
INTERNATIONAL PETROLEUM CORPORATION
Began oil exploration in Burma in 1989. Myanmar Oil & Gas Enterprise (MOGE), the agency overseeing oil and gas development in Burma, is controlled by the military regime SLORC; since 1989, MOGE has signed multimillion dollar contracts with many foreign oil companies. A subsidiary of the Thai national oil company, PTT Exploration and Production, has proposed developing natural gas in Burma's Gulf of Mataban and shipping it to Thailand through an undersea pipeline. (See article by Dara O'Rourke, "Oil in Burma: Fueling Oppression," Multinational Monitor 13(10):7-11, Oct. 1992).
INTERNATIONAL PLYWOOD INC.
Box 440909, Houston, TX 77244
Imported plywood of almaciga, ramin, mersawa, meranti, rosewood, and teak (Crow's 1988-1989).
INTERSOUTH (M) Sdn Bhd
One of the top ten exporters of sawtimber from Malaysia in 1991 (Asian Timber, April 1992, p.8).
Intimpura is an Indonesian logging company that has been granted a 339,000-hectare concession on Moi peoples land in West Papua (Irian Jaya), Indonesia. The Indonesian corporation Kayu Lapis Group is also involved in pulp and paper production in the area, which has been affected by the Transmigration program since the early 1980s (see article by Anna Laine, "Moi Resistance: Standing Up to Indonesia," Multinational Monitor 13(10): 12-14, Oct. 1992; and Multinational Monitor, Oct. 1990).
Inti Indorayon Utama is a pulp and rayon mill in north Sumatra, Indonesia (SKEPHI, 1990, Selling Our Common Heritage).
ISHINOMAKI PLYWOOD MANUFACTURING CO.
Ishinomaki Plywood and Goodmatch of Malaysia are setting up a veneer, plywood, particleboard, and medium-density fibreboard joint ventures in Sungai Binjei, Batang Rajang, in Sibu, Sarawak, Malaysia. Goodmatch is associated with the Sanyan Group, a Sarawak majority-owned company (Asian Timber, June 1993, p.8).
ISI (INTERNATIONAL SPECIALTIES, INC.)
7937 Nickerton Dr, Germantown, TN 38138
Offices, reps and suppliers in 30 countries. Many tropical species sold. Advertised in National Hardwood Magazine (Nov. 1988).
ISLAND EXPLORATION see Mobil
6-22-10 Minami Oi, Shinagawa-ku, Tokyo 140
Formed in 1937 by Tokyo Ishikawajima Shipbuilding and Tokyo Gas and Electric; called Tokyo Motors until 1949. Began building automobiles with the Rootes group (UK) in the 1950s. General Motors bought an interest in 1971, and owned 37 percent in 1992; GM and they have joint manufacturing facilities in the UK and Australia; in 1990 Isuzu announced a venture in Indonesia with P.T. Gaya Motor; Isuzu has plants in Egypt (General Motors Egypt), Malaysia (Automotive manufacturers), Japan (Automotive Foundry, Daikin Manufacturing, I.K. Coach, Shatai Kogyo, TDF Corporation, and Zexel), the UK (IBC Vehicles), Indonesia (P.T. Mesin Isuzu), and Thailand. Half its 1991 sales were in Japan.
Associated with Itochu (World Rainforest Report, v.6 n.2, 1990).
Brazil and Paraguay
Huge hydrolelectric dam on the Prana River between Brazil and Paraguay. Began generating electricity in 1984; when complete, to generate 12,600 megawatts. See "Brazil's Hydroelectric Project," New York Times, Nov. 14, 1983.
ITOCHU (C. ITOH AND CO.)
335 Madison Ave, New York, NY 10017 telephone 212-818-8000
C. Itoh Building Products, 2 Skyline Drive, Hawthorne, NY 10532 telephone 914-347-5600
With its associated keiretsu companies, Itochu (formerly C. Itoh & Company) is one of the world's largest industrial groups. Itoh, Toyota, Pacific Telesis, and Cable & Wirless (a London-based telecommunications system which operates in 37 countries, including Hong Kong) have formed a Japanese-based consortium called International Digital Communications (Hoover's Handbook of World Business 1992, p. 168 and 239).
Associated companies include Asahi Optical, Fujitsu, Fuji, and Isuzu (World Rainforest Report, v.6 n.2, 1990).
Itoh is involved in Sarawak, Malaysia (RAM, 1988). Itoh imported 1.3, 1.7, and 1.2 million cubic meters of tropical wood in 1988, 1989, and 1990 (JATAN, Nov. 1991). Mados-Citoh-Daiken of Johore, Malaysia was one of the top ten exporters of plywood from Malaysia in 1991 (Asian Timber, April 1992, p.8).
Building steel mill at Darhan, 155 miles from Ulan Bator, in Mongolia, a project guaranteed by the Export-Import Bank of Japan. Mitsubishi is also involved (Engineering & Mining Journal, Mar. 1992, p. 45)
Japanese overseas development aid is financing Itoh to build roads into Sarawak, Malaysia, according to Thalayan Muniandy, a Malaysian attorney, March 1992.
The C. Itoh Energy Group has oil exploration, development, and trading operations in Los Angeles California, Houston Texas, Caracas Venezuela, London England, Sofia Bulgaria, Alger Algeria, Safat Kuwait, Jeddah Saudi Arabia, Dubai UAE, Oman, Baghdad Iraq, Tehran Iran, Doha Qatar, Hong Kong, Singapore, Jakarta Indonesia, Seoul Korea, Paris France, Beijing China, and Taipei Taiwan (Whole World Oil Directory 1991, p. 144-145).
ITOH (C. ITOH) see Itochu
ITT (International Telephone and Telegraph)
1330 Ave. of the Americas, New York NY 10019
ITT-Sheraton, 60 State St,Boston MA 02109
Began in 1920, managing telephone companies in Cuba and Puerto Rico. By the end of the 1980s, had sales over $20 billion: 8 percent military, 14 percent automotive, 43 percent insurance (Hartford), 4 percent hotels (Sheraton), 9 percent finance, 6 percent forest products (Rayonier). Has over a hundred thousand employees (Hoover's Handbook of American Business 1992, p. 321).
ITT, through director (and ex-CIA director) John McCone, offered the Central Intelligence Agency a million dollars to finance a campaign to block the election of Salavador Allende as president of Chile (Everybody's Business, 1990, p. 561).
ITT-Sheraton and other U.S. and European interests plan to develop Lombok island, east of Bali in Indonesia. Sheraton owns beach property at Sengiggi. Luxury resorts with water skiing, golf, and swimming pools are planned. The indigenous Sasak people will be impacted. Two resorts and a golf course are already under construction; a Japanese lumber company has announced a 30-year plan for cutting hardwoods on the island (Earth Island Journal, Spring 1992, p. 16). A video documentary project is being undertaken by FDSR, The Village Postmark, 112 N. Harvard Ave., Suite 124, Claremont CA 91711.
Began in the rayon and cellulose industries in the 1930s, on Washington State's Olympic Peninsula; associated with Crown Zellerbach. In 1968, the ITT conglomerate bought Rayonier; in 1990, ITT put 75 percent (400,000 acres) of Rayonier's timber into a liquidating partnership (Seattle Post-Intelligencer, 4-12-90, p.A1, A4). In 1993, ITT announced it would spin off Raynier to ITT shareholders in early 1994 (Wall Street Journal, Dec. 16, 1993, p.B4).
ITT Rayonier has bought 100,000 acres of New Zealand state-owned forest for NZ$366 million; the NZ government had offered 194,000 hectares in early 1990, but only 73,000 were sold; some of the offers were withdrawn beacuse of land claims by native Maori people (Asian Timber, June 1992, p.6). ITT Rayonier has operated in New Zealand since 1988 (PPI: Pulp & Paper International, July 1992, p.21).
ITT Rayonier began exporting timber from Russia in May 1993, with a shipment of logs from Sakhalin Island to China; Rayonier also has Russian log customers in Korea and Taiwan. Seattle export consultant Jay Gruenfeld is studying the feasibility of shipping Russian old-growth timber to Japan (Seattle Post-Intelligencer, Aug. 25, 1993, p. B1,B10).
Venture capital firm.
Involved in a Omai joint venture gold mine at Guyana with Cambior, Fluor Daniel Wright, Golden Star Resources, Placer Dome, and South American Goldfields (Marcus Colchester, "Sacking Guyana" in Multinational Monitor, Sept. 1991, p. 8-14).