BRITISH STEEL TRADE

Evening Star, Issue 20053, 19 December 1928, Page 4

BRITISH STEEL TRADE

FORMATION OF BIG CORPORATION MERGER OF. COMPANIES. Pt«* Association—By Telegraph—Copyright. LONDON, December 17. A big development in the British steel industry was signalised by the registration of the English Steel Corporation, Ltd., to acquire certain parts of the business and works of Vickers, Ltd., Armstrong, Ltd., and C* 111 ! 01 ®!! Laird, Ltd., to carry on the business of engineers, ironmasters, founders, steelmakers, and manufacturers of armour plate. It is specially agreed that the new company does not make guns, gun mountings, armoured cars, or tanks. The new company acquires from Vickers, Ltd., and Armstrong, Ltd., three works at Sheffield and one at Manchester, and plant at Eiswiok; from Vickers, Ltd.; one plant at Manchester; from Cammed Laird, Ltd., two works at Sheffield and the Yorkshire Iron and Steel Works. Another agreement merges |ho Vickers, Ltd., and Gammed Laird, Ltd., rail, carriage, and wagonbuilding works. Mr Hichens, the chairman of Cammed Laird, Ltd., in an interview expressed the opinion that the merger would have far-reaching developments. It was the first step to reorganisation of the Home steel industry, and it should enable Britain to compote with ad her rivals on the world market. The total capital of the companies concerned in the merger is nearly £50,000,000. —Australian Press Association.