Chapter 39. An Accident That May Have Affected the Future of Process Safety
All the text books will tell you, stretching back over two decades, that most acquisitions fail to create value for anyone other than the selling shareholders, and that three years after the event the buying company is suffering remorse: they just wish they had never done it.—Sir John Banham (former director-general of the U.K. Confederation of British Industry), Daily Telegraph (London), August 11 2005
This short chapter describes an accident—that is, an event that had unforeseen and unexpected results. It led to the end of an independent company, Imperial Chemical Industries (ICI), which had made major changes in process safety, most of which were widely copied. ...
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