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Port Talbot Iron and Steel Company was formed by the Gilbertsons of Pontardawe and Miss Emily Talbot of Margam.
The Gilbertsons wanted to exploit the opportunity provided by the rise in the price of tinplate after 1899
1900 A private company was formed to build steelworks on land leased from Miss Talbot
1901 The company built the Port Talbot Steelworks which re-melted purchased pig iron to supply two 60 ton open-hearth furnaces for steel production.
1903 Production stopped. The company failed, probably because the cost of the plant had been greatly underestimated and technical problems.
1906 The Port Talbot Steel Co was formed to acquire and reopen the steelworks.