SYNTHETICS: Fiber Finance

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The National Production Authority last week gave a hearty boost to the synthetic fiber industry. It offered fast tax write-off certificates for enough new plants to raise the combined production of nylon and Acrilan from 100 to 300 million lbs. a year.

First to collect was the Chemstrand Corp. of Decatur, Ala., a jointly owned subsidiary of the Monsanto Chemical Co. and American Viscose Corp. The NPA approved a five-year amortization (instead of the usual 20 or 25) of 50% of the cost of a $25.5 million Chemstrand factory in Decatur, and an $88.5 million company plant at Pensacola, Fla.