Iron and Steel Corporation of Great Britain information
This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. Find sources: "Iron and Steel Corporation of Great Britain" – news · newspapers · books · scholar · JSTOR(November 2020) (Learn how and when to remove this message)
The Iron and Steel Corporation of Great Britain was a nationalised industry, set up in 1949 by Clement Attlee's Labour government.
The Iron & Steel Act 1949 took effect on 15 February 1951, the Corporation becoming the sole shareholder of 80 of the principal iron and steel companies (reduced from the 107 proposed in the first draft of the Bill). The model differed from previous nationalisations in that it was the share capital of the companies that was acquired, not their undertakings. The reason was that companies in the iron & steel industry had wide-ranging ancillary activities, from which the core business of iron & steel making could not easily be extracted. Firms whose chief activity consisted in the manufacture of motor vehicles were specifically excluded from the scheme. Companies not qualifying for acquisition were to require a licence if producing more than 5,000 tons of ore or other products. Some 2,000 iron & steel companies remained in business outside the nationalised sector.
Nationalisation of steel production was strongly resisted by the Conservative opposition. On returning to power, they instructed the Corporation to make no change to the structure of the industry and made plans instead for its return to the private sector.
The Corporation was superseded by the Iron and Steel Holding and Realisation Agency. The Agency succeeded in selling all of the nationalised companies with the exception of the largest, Richard Thomas and Baldwins. This remained in public ownership and was absorbed into the British Steel Corporation when the industry was re-nationalised by the Labour government of Harold Wilson in 1967.
and 24 Related for: Iron and Steel Corporation of Great Britain information
Lancashire SteelCorporation Ltd was a United Kingdom steel producer. The company was formed in 1930 by amalgamating the ironandsteel interests of the Pearson...
in 1947. The Consett Iron Company itself was nationalised in 1951, becoming part of the IronandSteelCorporationofGreatBritain. It was denationalised...
under the overall ownership of Pease and Partners bank until nationalisation into the IronandSteelCorporationofGreatBritain in 1951, returned to private...
Priest BritishSteel (yacht), 59 ft ketch used for a circumnavigation of the globe by Chay Blyth in 1970-71 IronandSteelCorporationofGreatBritain This...
The Park Gate IronandSteel Company was a British company that smelted iron ore and turned it into rolled steeland semi-finished casting products. Its...
part of the IronandSteelCorporationofGreatBritain, was denationalised shortly afterwards, and renationalised and was absorbed into BritishSteel Corporation...
The US ironandsteel industry has paralleled the industry in other countries in technological developments. In the 1800s, the US switched from charcoal...
part of the IronandSteelCorporationofGreatBritain, was denationalised shortly afterwards, becoming the Steel Company of Wales again and renationalised...
operated by Colvilles and from 1967 by BritishSteelCorporation, consisted of an integrated ironandsteel works and a hot strip steel mill. They were located...
It is a part of the Tata Group. Formerly known as Tata IronandSteel Company Limited (TISCO), Tata Steel is among the largest steel producing companies...
BritishSteelCorporation in 1967. The business now forms part of Corus, a subsidiary of Tata Steel. Richard Thomas & Co Ltd was an iron, steeland tinplate...
The IronandSteel industry in India is among the most important industries within the country. India surpassed Japan as the second largest steel producer...
The Consolidated SteelCorporation was an American steeland shipbuilding business. Formed on 18 December 1928, the company built ships during World War...
Steel is an alloy ofironand carbon with improved strength and fracture resistance compared to other forms ofiron. Because of its high tensile strength...
placed under the IronandSteelCorporationofGreatBritain. Under Conservative rule in 1953, it passed to the IronandSteel Holding and Realisation Agency...
For two-and-a-half years, Neville Chamberlain has been Prime Minister ofGreatBritain. During this period GreatBritain has suffered a series of diplomatic...
of Walthamstow in the County of Essex, which serves as the subsidiary title to the earldom and is also in the Peerage of the United Kingdom. As of 2022...
Global Information