By June 1972, the United States Foreign Claims Settlement Commission
in Washington, D.C. had certified 5,911 claims by Americans for
property seized by the Castro regime in Cuba. Of all the claims, 30
United States companies held 56.85% of the total value.
The web site Cubatrade.org lists 46 American companies and the value
of their Cuban assets seized by Castro's government.
Most of the companies listed by Cubatrade.org are major American
corporations (Coca-Cola, Ford Motor, General Electric, etc.) that are
still operating under the same name. A few of the companies have
merged into other companies or have changed their names. FW Woolworth,
for example, changed its name to Venator a few years ago, and then
changed its name to Foot Locker a few years after that.
Two of the biggest and most important American-owned companies in Cuba
during the '50s were the Cuban Electric (owned by Boise Cascade
http://www.boisecascade.com/ ) and Cuban Telephone Company, aka
"CUTELCO" (owned by ITT Corporation http://www.itt.com ).
From the web page "Telecommunications in Cuba" by John Spicer Nichols
and Alicia M Torres:
"On 3 March 1959, the Cuban government "intervened" (also called a
"temporary" take over) in the management of Cuban Telephone Company
and revoked a rate increase authorized by the previous government. The
revolutionary government also lowered the electrical power rates
charged by US-owned Cuban Electric Company. Finally, on 6 August 1960,
Castro announced to a cheering crowd in the Havana sports stadium that
he had nationalized US$132.9 million in CUTELCO assets from ITT,
US$267.6 million from Cuban Electric (a subsidiary of Boise-Cascade),
and US$85.1 million from United Brands (formerly United Fruit), as
part of a total of US$2 billion seized from US companies."
"Telecommunications in Cuba"
Both Cuban Electric and CUTELCO were monopolies. Each company had 100%
market share in its respective industry (electricity for Cuban
Electric and telephone for CUTELCO).
Cuban Electric Company is described as having been an American-owned
monopoly on a number of web page including "Cuban History" from
Cuban Telephone (CUTELCO) is also described as having been a monopoly
according to a number of sources.
See CubaNet News:
"Cuban telephone system, which had been expropriated from the ITT
Corp. of New York in 1960,"
Also see "Information Technology in Cuba"
search terms: "united states companies", "american companies", cuba,
cuban, seized assets, property, claims, "Foreign Claims Settlement
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