 Shortly after the Carnation Revolution, the change of direction from a purely pro-democracy coup to a communist-inspired one, became known as the "Processo Revolucionário Em Curso" (PREC).Abandoning its moderate-reformist posture, the revolutionaries of the "Movimento das Forças Armadas" (MFA) leadership set out on a course of sweeping nationalizations and land expropriations.During the balance of that year, the government nationalized all Portuguese-owned capital in the banking, insurance, petrochemical, fertilizer, tobacco, cement, and wood pulp sectors of the economy, as well as the Portuguese iron and steel company, major breweries, large shipping lines, most public transport, two of the three principal shipyards, core companies of the Companhia União Fabril (CUF) conglomerate, radio and TV networks (except that of the Roman Catholic Church), and important companies in the glass, mining, fishing, and agricultural sectors.