1948 Corporation established by the Iron and Steel Bill of 1948 to hold the 107 companies that would be nationalized in 1950, and to issue British Iron and Steel Stock in compensation.
1950 Final implementation of Iron and Steel Act would involve nationalization of 92 companies, with vesting date of 15 February 1951.
1951 Companies nationalised were:
- Arthur Lee and Sons (Hot Rolling Mills), Ltd.
- Bairds and Scottish Steel, Ltd.
- Barrow Ironworks, Ltd.
- Birchley Rolling Mills, Ltd.
- Briton Ferry Steel Co, Ltd.
- Brymbo Steelworks, Ltd.
- Burnell and Co, Ltd.
- Byfield Ironstone Co, Ltd.
- Bynea Steel Works, Ltd.
- Cargo Fleet Iron Co, Ltd.
- Colvilles Ltd.
- Consett Iron Co, Ltd.
- Cranford Ironstone Co, Ltd.
- Darlington and Simpson Rolling Mills, Ltd.
- Darwen and Mostyn Iron Co, Ltd.
- District Iron and Steel Co, Ltd.
- Dixons Ironworks Ltd.
- Dorman, Long and Co, Ltd.
- Elba Tinplate Co, Ltd.
- English Steel Corporation Ltd.
- Etna Iron and Steel Co, Ltd.
- Gjers, Mills and Co, Ltd.
- Glamorgan Hematite Iron Ore Co, Ltd.
- Glynhir Tinplate Co, Ltd.
- Goldendale Iron Co, Ltd.
- Gorse Galvanising Co, Ltd.
- Guest, Keen and Nettlefolds (South Wales) Ltd.
- Guest, Keen Baldwins Iron and Steel Co, Ltd.
- Hadfields Ltd.
- Hallamshire Steel and File Co, Ltd.
- Hodbarrow Mining Co, Ltd.
- J. J. Habershon and Sons Ltd.
- John Bagnall and Sons Ltd.
- John Baker and Bessemer Ltd.
- John Lysaght's Scunthorpe Works Ltd.
- John Summers and Sons Ltd.
- Kettering Iron and Coal Co, Ltd.
- Lanarkshire Steel Co, Ltd.
- Lancashire Steel Corporation Ltd.
- Lilleshall Iron and Steel Co, Ltd.
- Llanelly Steel Co (1907) Ltd.
- Loddington Ironstone Co, Ltd.
- Millom and Askam Hematite Iron Co, Ltd.
- Monks, Hall and Co, Ltd.
- Nassington Barrowden Mining Co, Ltd. (formerly Naylor Benzon Mining Co., Ltd.).
- Neath Steel Sheet and Galvanizing Co, Ltd.
- New Cransley Iron and Steel Co, Ltd.
- Park Gate Iron and Steel Co, Ltd.
- Partridge Jones and John Paton Ltd.
- Patent Shaft and Axletree Co, Ltd.
- Pease and Partners Lingdale Ironstone Mines Ltd.
- Pease and Partners Normanby Iron Works Ltd.
- Raine and Co, Ltd.
- Renishaw Iron Co, Ltd.
- Richard Hill Ltd.
- Richard Thomas and Baldwins Ltd.
- Round Oak Steel Works Ltd.
- Samuel Fox and Co, Ltd.
- Santon Mining Co, Ltd.
- Sheepbridge Co, Ltd.
- Sheffield Forge and Rolling Mills Co, Ltd.
- Shelton Iron, Steel and Coal Co, Ltd.
- Skinningrove Iron Co, Ltd.
- Smith and McLean Ltd.
- South Durham Steel and Iron Co, Ltd.
- Stanton Ironworks Co, Ltd.
- Staveley Iron and Chemical Co Ltd.
- Steel Company of Wales Ltd.
- Stewarts and Lloyds Ltd.
- Templeborough Rolling Mills Ltd.
- Thomas Firth and John Brown Ltd.
- Ullcoats Mining Co, Ltd.
- United Steel Companies Ltd.
- Upper Forest and Worcester Steel and Tin Plate Works Ltd.
- Whitehead Iron and Steel Co, Ltd.
- William Beardmore and Co, Ltd.
- Wolverhampton Steel and Iron Company (1946) Ltd.
- W. Wesson and Co, Ltd.
a total of 78 companies.
In addition 12 companies did not vest in the Corporation as they were owned by companies listed above:
- Beckermet Mining Co, Ltd.
- Hadfields Steels, Ltd.
- Irchester Ironstone Co, Ltd.
- James Pain Ltd.
- London Works (Barlows), Ltd.
- Oxfordshire Ironstone Co, Ltd.
- Steel Company of Scotland, Ltd.
- Steel Company of Wales (Lysaght Works), Ltd.
- Taylor Bros. and Co, Ltd.
- Wellingboro' Iron Co, Ltd.
- Whitehead Thomas Bar and Strip Co, Ltd.
- Wolverhampton Corrugated Iron Co, Ltd.
In addition 2 companies were in process of being acquired at the time of the announcement:
1953 Under the Iron and Steel Act, 1953, the Iron and Steel Holding and Rationalization Agency was established to dispose of the government's holdings in iron and steel companies. The Agency was responsible for 62 companies. The Iron and Steel Corporation of Great Britain ceased to exist on 13 August.
1958 On 30 September the Iron and Steel Holding and Rationalization Agency still owned 12 steel companies with total value of £89 million.
1961 The Iron and Steel Holding and Rationalization Agency sold its holdings of debentures and preferences shares in 7 denationalized companies: Colvilles, Consett Iron Co, Dorman, Long and Co, Steel Company of Wales, Stewarts and Lloyds, John Summers and Sons and United Steel Companies. The major holding remaining in the hands of the Agency was that in the Richard Thomas and Baldwins company.
1967 The Iron and Steel Holding and Rationalization Agency was wound up having sold all but one of the nationalized companies.
Sources of Information
- ↑ The Times, 30 October 1948
- ↑ The Times, 10 October 1950
- ↑ Hansard 19 February 1951
- ↑ The Times, 5 August 1953
- ↑ The Times, 4 December 1959
- ↑ The Times, 14 August 1953
- ↑ The Times, 4 December 1959
- ↑ The Times, 21 February 1961
- Also see "The Return of Steel to Private Ownership" The Times, 2 July 1953.