In current dollars, that’s substantially below what each of the top three firms realized in 2011. Even in constant dollars (I used a multiplier of 6.46 provided by the Federal Reserve Bank of Minneapolis to convert 1968 dollars into 2011 dollars), chemical sales of the 1968 Top 50 totaled $161.7 billion, less than half of the sales of the 2011 Top 50. By my count, only 15 of the original Top 50 firms are on the 2011 list. Interestingly, six of the top 10 in 1969—DuPont, Monsanto, Dow Chemical, W.R. Grace, Celanese, and FMC—remain among the Top 50 in 2012. Some of those that disappeared were acquired by other chemical companies; others exited chemicals entirely.
by Rudy M. Baum |
May 14, 2012