An Iron Curtain For A Metals Company?

Trans-World runs into local antipathy over quick profits

David Reuben was livid. Arriving at a shareholders' meeting of the Kazchrome metals company in Kazakhstan last October, the chairman of Britain's Trans-World Metals Ltd. was halted at the door by guards--even though Trans-World holds a 57% stake in Kazchrome. As Reuben stood fuming outside, other shareholders voted in a new management team hostile to Trans-World. That was only the start of Reuben's troubles. Within weeks, managers backed by the government had seized control of all of Trans-World's holdings in Kazakhstan.

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