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British Steel Corporation

the largest steel-producing company in Great Britain and Europe. Owned by the government and operated under the jurisdiction of the Ministry of Power.

The British Steel Corporation was founded in July 1967 as a result of the nationalization of the largest companies in Great Britain’s iron and steel industry; this nationalization was carried out by the Labour Party, which was in office at that time. The former owners received compensation of approximately £580 million in government securities (6.5 percent) redeemable in cash by 1971. A very powerful metallurgical conglomerate was formed, based on Richard Thomas and Baldwins, a company already owned by the government, and the 13 most important steel-producing companies in the country, now government owned.

The new monopoly is surpassed in production volume only by the United States Steel Corporation, an American company. In 1969 the British Steel Corporation produced approximately 7 percent of the steel in the capitalist world, more than 20 percent of the steel in the European capitalist countries. The British Steel Corporation controls more than 90 percent of the iron ore mined in the country, 95 percent of the iron smelted, and 93 percent of the steel; it is the principal manufacturer of heavy rolled steel, thin sheet metal, and tin plate. Its companies employ 80 percent of all workers in the industry. The British Steel Corporation is a holding company with respect to the individual nationalized firms, which have retained their legal independence, their own boards of directors, and their affiliated branches, including branches abroad. The British Steel Corporation is subdivided into four groups of companies, according to their specialization and location (see Table 1).

Table 1. Indexes of the activities of the company groups of the British Steel Corporation (1967)
Groups	Fixed capital (in millions of £)	Steel output (in millions of ton)	Number of employees
Midland...............	337	5.8	68,500
Northern and Tubes...............	336	5.5	95,500
Scottish and Northwest...............	288	4.6	47,400
South Wales...............	416	6.1	57,100
Total...............	1,377	22.0	268,500

In 1969 the British Steel Corporation had a total turnover of £1.2 billion, and steel production amounted to 24.3 million tons.

D. A. LIPEROVSKAIA

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No references found	Dorman Long were in turn nationalised into the British Steel Corporation then Thatcherised on to the private market, sold to Corus and then, as it very much now seems, sold down the river. More or bore by Evening Gazette (Middlesbrough, England) They said the proposal, which took them two months to draw up, could save the British Steel Corporation pounds 20m. 1974 THIS WAS THE WEEK THAT... Striking miners, Barry John and ... by South Wales Echo (Cardiff, Wales) Byline: Evening Mail Reporter THE THREAT to thousands of jobs in the steel industry was confirmed today by Sir Monty Finniston, chairman of the British Steel Corporation. Steel jobs axe threat confirmed by Birmingham Mail (England)	British gravitational system of units British Guiana British Honduras British imperial pound British Imperial System of weights and measures British India British Indian Ocean Territory British Interplanetary Society British Invasion British Isles British Library British Library Method British Museum British Museum Library British North America British North America Act British North Borneo British Open British Socialist Party BSP British Somaliland British South Africa Company British Standard British Standard specification British Standards Institute British Standards Institution British Steel Corporation British Telecom British Telecom Research Laboratories British thermal unit British Togoland British Trade Union Congress BTUC British West Africa British West Indies British, The Britomart Britomartis Briton Britske, Ergard Britske, Ergard Viktorovich Brittan, Sir Leon Brittany Brittany spaniel Britten Britten of Aldeburgh, Benjamin Britten, Baron Britten, Benjamin Britten, Benjamin, Baron Britten of Aldeburgh brittle brittle fracture brittle mica brittle silver ore brittle star	British Standard Milk British Standard Pipe British Standard Pipe - Parallel British Standard Pipe Fine British Standard Pipe Parallel British Standard Pipe Taper British standard pipe thread British Standard Pipethread British Standard Piping British Standard specification British Standard Taper Pipe Thread British Standard Time British Standard Whitworth British Standard Whitworth thread British Standards British Standards British Standards British Standards Institute British Standards Institute British Standards Institute Association British Standards Institution British Standards Institution British Standards Institution British Standards Online Project British Standards Publishing Sales Limited British Standards Society British Starch Industry Association British state British state British Steel Corporation British Steel Engineering Steels Ltd. British Stock Car Association British Stock Car Drivers Association British Straits Settlements British Straits Settlements British Stroke Research Group British Structural Waterproofing Association British Student American Football Association British Student Quiz Championship British Student Taekwondo Federation British Studies at Oxford British Sub-Aqua Club British summer time British summer time British summer time British summer time British Superbikes British Supersonic Transport British Superultramodern Scientific Institution British Surface Treatment Suppliers Association British Surgical Trades Association British Survey of Fertiliser Practice British Suzuki Institute British Swimming Coaches and Teachers Association British Swimming Pool Federation British system British Table Football Association

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Dorman Long were in turn nationalised into the British Steel Corporation then Thatcherised on to the private market, sold to Corus and then, as it very much now seems, sold down the river.

More or bore by Evening Gazette (Middlesbrough, England)

They said the proposal, which took them two months to draw up, could save the British Steel Corporation pounds 20m.

1974 THIS WAS THE WEEK THAT... Striking miners, Barry John and ... by South Wales Echo (Cardiff, Wales)

Byline: Evening Mail Reporter THE THREAT to thousands of jobs in the steel industry was confirmed today by Sir Monty Finniston, chairman of the British Steel Corporation.

Steel jobs axe threat confirmed by Birmingham Mail (England)

British gravitational system of units

British Guiana

British Honduras

British imperial pound

British Imperial System of weights and measures

British India

British Indian Ocean Territory

British Interplanetary Society

British Invasion

British Isles

British Library