AMERICAN ALLOY is a European company in the machinery and construction field, which supplies mainly industrial customers. It has a number of subsidiaries and licensees in European and nonEuropean countries. In addition, there are allied companies, mostly in Europe, but also in North America. The European allied companies are owned to the extent of less than fifty per cent of the shares by AMERICAN ALLOY. The North American allied companies are completely independent, but there is an exchange of information on certain technical and commercial subjects with AMERICAN ALLOY, which by agreement does not in principle extend its operations to the Western Hemisphere.