AMERICAN FIRMS IN EUROPE

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1 HUBERT BONIN & FERRY DE GOEY (eds.) AMERICAN FIRMS IN EUROPE Strategy, Identity, Perception and Performance ( ) B LIBRAIRIE DROZ S.A. 11, rue Massot GENEVE 2009

2 TABLE OF CONTENTS FIRST PART INTRODUCTIVE ISSUES CHAPTER 1 American companies in Europe: issues and perspectives 9 Hubert Bonin & Ferry de Goey 1. Convergence, Americanization, and Europeanization Europe within the scope of American firms' strategy of foreign investment 17 The chronological trend 17 The Europeanization of us firms Research issues 24 Strategy 24 Structures & Identity 24 Reception 24 Performance The contributions: a short Survey 25 Introductive Challenges 25 Case studies in a few countries 26 Industries and institutions 28 American firms and European unification Concluding remarks 32 CHAPTER 2 US business in Europe: an American perspective 35 Mira Wilkins 1. The time dimension US Business offerings in Europe Variations by individual European host countries Issues about the adaptability Are outward foreign direct investments a sign of strength? And inward foreign direct investments a sign of weakness? 63 Conclusion 65

3 688 TABLE OF CONTENTS SECOND PART CASE STUDIES IN A FEW COUNTRIES CHAPTER 3 First American firms coming to France (from the 1900s to the 1930s) 71 Hubert Bonin 1. Direct investments: taking profit of the technological edge American firms cloaked as French companies 83 A. The significant cases of Thomson-Houston (from 1893) and Schneider-Westinghouse (from 1929) 85 B. ITT disguised into the French firm CGCT 88 C. French bankers promoting Standard Oil 89 D. A first discreet step on consumer markets Moves between independency and partnership: Kodak and Ford 93 A. Kodak adapted to the French market 93 B. The move of Ford toward French embeddedness Indirect bridgeheads of technical advance: Transfers of technology 95 Conclusion 101 CHAPTER 4 The case of US companies in Switzerland 105 Margrit Miiller 1. Direct investments and the international competitiveness of firms and nations Quantitative analyses of US direct investments in Switzerland US companies in Switzerland 110 A. US companies during an early period: Ill B. US investment during the period Industry and case studies of US companies in Switzerland A. The US petroleum industry in Switzerland 120 B. The automobile industry and the case of General Motors in Switzerland 120 C. The computer and IT industry and the case of IBM 121 D. US companies in highly competitive branches of the host country 123 a. The case of Bulova watches. 123 b. Chemicals-pharmaceuticals and the case of Cilag 124 c. US finance and insurance in Swizerland 126 Conclusion 127

4 TABLE OF CONTENTS 689 CHAPTER 5 Investing in a developing economy: US and European direct investments in Italy ( ) 129 Andrea Colli 1. Research issues and methodology Background, existing research and available sources American FDIS in Italy on the eve of WWI Between the two wars The evolution of American investment^ after-wwii Problems and issues about American investments in Italy CHAPTER 6 US Multinationals in the Netherlands in the 20th century: "The open gate to Europe" 149 Ferry de Goey & Ben Wubs 1. Dutch-American relations: a short history Overview of US investments in the Netherlands 157 A. US direct investment by sector and region 161 B. US direct investment by strategy Case-studies: Ford, IBM, and Dow. 165 A. Ford Netherlands 165 B. IBM in the Netherlands 169 C. Dow Chemical in The Netherlands 175 Conclusion 181 CHAPTER 7 US Investments in Spain ( ) 185 Enrique de Miguel Fernandez & Vicente Sanz Rozalen 1. The first US investments (till WWI) Booming American investments (1920s-1930s) American Investments from the 1940s The impact of American firms on the Spanish economy Sectoral developments of American companies in Spain 200 CHAPTER 8 Foreign direct investment, economic aid and modernization: US firms in Spain ( ) 209 Adoracion Alvaro Moya 1. The first wave of American investments ( ) Instability, withdrawals and business opportunities ( ) "The American challenge" ( )? 220 Conclusion 227

5 690 TABLE OF CONTENTS CHAPTER 9 US Investments in Denmark, An overview with focus on motives and attitudes 229 Peter S0rensen & Kenn Tarbensen 1. US Investments in Denmark before A. US Investments in Denmark before World War II 230 B. US Investments in Denmark in the European context, ( 231 C. Kraft Foods: a milestone in 1956" Danish incentives to attract foreign investments in A. The big campaign in B. Incentives in the 1960s US Investments in Denmark in A. Numbers and sizes: an overview 239 B. Lines of US business in Denmark US Investments in selected sectors 242 A. US Investments in car industry 242 B. US Investments in oil, refineries and service stations C. US Investments in the service sector 252 D. US Investments in the food industry 255 E. US Investments in the cosmetics industry Motives and attitudes of the US investors in Denmark 263 A. The motives of the US Investors: typical examples 263 B. The motives of Danish owners who sold their firm 271 C. The attitudes of the Danish government and authorities. 272 D. The attitudes of Danish business organisations and trade unions 274 Conclusion 276 THIRD PART INDUSTRIES AND INSTITUTIONS CHAPTER 10 The Singer Company in Russia, Irina Potkina 1. The beginning of Singer's activity in Russia The creation of Russian Singer Company The main results of Singer's activity Singer's sales network and advertising Singer's public image The Company caught between Russian-American reality and its perception as German 295 Conclusion 297

6 TABLE OF CONTENTS 691 CHAPTER 11 American multinationals in British retailing, : Performance and identity 299 Andrew Godley 1. Mapping the performance of American multinationals in British retailing 301 A. American investment into food 303 B. American investment into clothing 304 C. American investment into confectionery, tobacconists and newsagents 305 D. American investment into other retail activities Entry strategies and the British retail environment 309 A. American investment into showcase retailers 312 B. American investment into distributors of novel durables. 312 C. American retailers The outliers: The Anglicization of Singer and Woolworths A. The case of Singer 315 B. The case of Woolworth's 317 Conclusion 318 CHAPTER 12 The limits of American multinationals in consumer goods: The case of automobile and consumer electronics in France ( ) Patrick Fridenson 1. Direct investment 322 A. Consumer electronics 322 a. Thomson 322 b. Washing machines 323 c. Refrigerators 324 d. TV sets 325 B. Automobile 325 a. French calls for help 325 b. The initiatives of the Big Three 326 c. Ford and GM return as components and parts manufacturers Influence by other means 329 A. Exports 329 B. Licensing 329 C. Joint ventures and tie-ups 332 D. Channels of reception 334 a. Banks 334 b. Engineers 335 Conclusion 335

7 692 TABLE OF CONTENTS CHAPTER 13 Coping with "Cooperative Capitalism": Procter & Gamble's market entry in Germany in the 1960s 339 Suzanne Hilger 1. The history of American FDI in Germany "Germany last"? Procter & Gamble's foreign business in Europe before and in the aftermath of WWII Strategy and Structure: P&G's Market Entry in Germany Perception: American Market Behaviour from a German Perspective Reception: The transfer of American marketing strategies to Germany Performance at Deutsche P&G 359 Conclusion 361 CHAPTER 14 Anglo-American relations and the co-production of American "hegemony" in pharmaceuticals 363 Viviane Quirke 1. American hegemony and the British pharmaceutical industry 365 A. American versus British 366 B. American subsidiaries and the British pharmaceutical industry Drug discovery and Anglo-American relations in the twentieth century 371 A. Before 1939: vitamins and hormones 371 B. Anglo-American collaborative programmes in pharmaceuticals during WWII 373 a. The case of synthetic anti-malarials 374 b. The case of cortisone 374 c. The case of anti-cancer agents 374 d. The case of Penicillin The "special relationship", or collaboration and competition in pharmaceuticals post-wwii 376 A. A "typical" case study? Glaxo and the development of corticosteroid drugs 377 B. A "special" case study? Ici and the development of the beta-blockers 379 a. Forged by war: Ici's Pharmaceutical Division 380 b. The American "model" and the building of Alderley Park 380 c. A departure from the American "model"? The beta-blockers 381 d. A twist in the tale? H2-antagonists at SK&F 382 Conclusion 383

8 TABLE OF CONTENTS 693 CHAPTER 15 AmCham Spain and the transformation of Spanish business, Jose-Luis Garcia-Ruiz & Nuria Puig 1. Cotton: The commodity underlying Spanish-American economic relations throughout the 20th century Giving support to Spanish-US trade: AmCham Spain ( ) Innovating in troubled times: lobbying, arbitration, advertising, and tourism ( )?. 7~ The search for a comparative advantage during the Great Depression ( ) Americanization in Franco's Spain ( ) Rise and decline of AmCham Spain in the post-war Franquist regime ( ) 397 A. Looking at the United States with hope ( ) B. Troubled years ( ) 398 C. AmCham and the economic normalization of Spain ( ) 400 D. AmCham and the European re-orientation of Spanish trade by the Franquist regime ( ) Spain's final Europeanization and AmCham's crisis ( ) 403 Conclusion 406 CHAPTER 16 The history of the Paris American Chamber of Commerce ( ) 411 Arthur Higbee 1. The creation of the American Chamber of Commerce (1894) Closer French-American relationship (till 1893) A growing influence ( ) War and peace ( ) Pax Americana ( ) Dealing with a new Europe ( ) Branching out ( ) Global reach ( ) 428 CHAPTER 17 The case of US companies in Russia-UssR: FORD in 1920s-1930s. 435 Boris Shpotov 1. The first acquaintance "Fordism" and Socialism Difficult adhesion to fordism 441 Conclusion 446

9 694 TABLE OF CONTENTS FOURTH PART AMERICAN FIRMS CONFRONTED TO EUROPEAN UNIFICATION CHAPTER 18 Ford's strategy towards European integration after World War II 459 Thierry Grosbois 1. Ford's industrial strategy and post-war European integration. 460 A. Ford in Europe before the Treaty of Rome 460 B. The Common Market, Ford of Europe, and the Europeanization of Ford's networks The political role played by the Ford Foundation in Europe A. Ford Foundation help towards European movements before B. Ford Foundation's European aid after 1956 Budapest revolution 478 Conclusion 481 CHAPTER 19 How to deal with internationalisation strategies of US business? The reception of Ford by British and German trade unions ( ) 485 Thomas Fetzer 1. Conceptual framework: International labour market Ford's path to international business integration: The creation of Ford of Europe The perception of Ford's internationalisation by German and British trade unions 491 A. The German case 492 B. The United Kingdom case The diverging dynamics of inter-nationalisation 498 Conclusion 500 CHAPTER 20 American business spreading modernity into France. Equipment goods and mass brands. Strategies, identity and perception (from the 1940s to the 1980s) 503 Hubert Bonin 1. Power and perception: The technological brand image of American companies (from the 1950s to the 1980s) 508 A. The American company and European progress: The making of a brand image 508

10 TABLE OF CONTENTS 695 B. The penetration of the "technological" brand images (in the 1940s-1950s) 510 C. The triumph of the innovating brand (in the 1960s-1970s) 512 D. The corporate identity: displaying the power of the American groups A tidal wave of marketing and publicity know-how: The spread of the American way of life and of modernity (from the 1950s to the 1980s) 522 A. Promoting the American brand of comfort 523 B. Promoting the American brand of hygiene 526 C. Promoting American lifestyle at home 529 D. Promoting American lifestyle out of the home Efficiency and productivity: American corporations modernizing and reorganizing French firms 538 A. American corporations advising French companies 538 B. American corporations modernizing and reorganizing French office 542 C. American corporations modernizing and reorganizing labour in French companies American corporations rushing to French market 546 A. Did the Americans penetrate the French colonial territories? 546 B. The commercial consolidation of American firms 548 C. Tactical alliances between American and French companies? 550 a. Strong partnerships for the franchisees 550 b. The multiplication of ad hoc manufacturing partnerships 551 D. The consolidation of American industries 557 a. The assault of the American chemical industry 560 b. American power in the engineering industry 561 c. The consolidation of the engineering and automobile industries in the 1960s-1970s 566 d. The success of the American system in the electromechanical industries 570 E. A chronology which went in step with the restructuring of the markets... / An estimate of the American economic clout in France in the years s 575 A. The domination of key sectors in the 1960s 575 B. The increase in the penetration during the 1970s Anti-American sentiments versus the attraction for American brands 580 A. The first anti-american moves? 581

11 696 TABLE OF CONTENTS B. Some anti-american action? 583 C. Building challengers capable of standing up to the American giants 590 D. Building European challengers Reaching honourable Franco-American compromises 594 A. Opening France up to American investments 594 B. The co-operation with Westinghouse 597 C. The GE-SNECMA co-operation 598 D. American enterprises as saviors.olfrench companies? Tactics employed by American companies to anchor themselves in more firmly 606 A. Subsidiaries being mere tools 607 B. Subsidiaries endowed with room for commercial maneuvering 609 C. Subsidiaries developing strong personalities 612 D. Companies being as much French as American? 615 a. Esso France as part of French industrial heritage? 616 b. ITT as a French company 616 c. IBM as a French company American firms and their French corporate image 626 A. American enterprises and the French social system 626 B. Corporate communication campaigns 630 C. Respecting French sensibilities: "Superiority" tempered with "modesty" 633 D. American firms as a leverage of a more modern France E. The clash of corporate cultures: a "Frenchification" of American enterprises? 639 F. Frenchmen at the head of American corporations? 641 Conclusion 642 Concluding remarks An easy US penetration? Chronological aspects: Only a stage in european history? American firms as european corporations American firms' might reconsidered Is ownership and nationality still relevant through globalisation? 658 The contributors 661 Index of persons 669 Index of companies 675 Acknowledgments 686

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