Metal Industries, Limited was a conglomerate of mostly British engineering companies. It was founded in Glasgow in 1922[1] by Robert Watson McCrone.[2] In 1953 its activities were described as "electrical and mechanical engineering manufacture and metal trading"[3] In 1967, Aberdare Holdings of South Wales acquired a controlling interest in the group,[4] but was quickly thwarted when M.I. created a large tranche of new shares which it sold to Thorn Electrical Industries, giving Thorn overall control of the company.[5] The City Panel on Takeovers and Mergers referred to "abuses and inequities" that occurred during this chaotic takeover, among others at the time, but declined to recommend tougher regulations.[6] A good history of the company's shipbreaking activities was published by the World Ship Society in 1992 in Ian Buxton's "Metal Industries: Shipbreaking at Rosyth and Charlestown".
The subsidiary companies continued to trade as the 'Metal Industries' group of Thorn until 1970,[7] when it merged with the George Cohen 600 group to become Six Hundred Metal Holdings.[8] In 1976, Thorn sold its interest in the group to the government-owned British Steel Corporation.[9]
Timeline of acquisitions, mergers, sales and closures edit
- 1922: Formed as Alloa Shipbreaking Co., Rosyth & Charlestown[10][11]
- October 1926: Purchased Rosyth Shipbreaking Co. and gained their leases at HM Dockyard, Rosyth[12]
- 1932: Sale of oxygen business to British Oxygen Company[13]
- 1935: Metal Industries, Limited converted to public company[13]
- 1940: Acquisition of Electrical Switchgear and Associated Industries Ltd.[14] and its subsidiary Brookhirst Switchgear Ltd., Chester
- 1941: Sentinel Waggon Works (1936) Limited [15]
- 1942: Igranic Electric Co., Bedford [16]
- 1945: Sentinel Waggon Works renamed to Sentinel (Shrewsbury) Limited
- 1946: Reorganisation: Metal Industries (Electrical Group) Limited set up to organise all electrical business; Metal Industries (Salvage) Ltd., Faslane, to take over salvage business; Sentinel (Shrewsbury) Limited to run engineering business; Metal Industries, Ltd. to become holding company[17]
- 1947: Ferrous Light Castings, Warrington (completion of acquisition)
- 1948: Fawcett Preston & Co. Ltd., Bromborough (founded 1758)
- 1948: Cantle Switches Ltd. (closed 1958)
- 1949: John Allan & Co. (Glenpark) Ltd. (est. 1898)
- 1949: Cox and Danks Ltd.[18] (see Ernest Cox)
- 1952[19] or earlier: Hughes Bolckow Shipbreaking Company Limited, Blyth
- 1955: Formation of Metind Limited
- 1955: Acquisition of resistor business from the Rheostatic Company[20]
- 1955: Acquisition of Finney Presses Ltd.
- 1956: Sale of Sentinel (Shrewsbury) Limited to Rolls-Royce
- 1957 or earlier: Shipbreaking Industries Limited
- 1957: Closure of Metind Limited
- 1959: Merger of Igranic with Brookhirst
- 1958: Merger of Finney Presses Limited, Birmingham with Fawcett Preston
- 1958: Sale of British Oxygen Company Limited
- 1958: Farmer Brothers (Shifnal) Limited
- 1959: Avo Ltd. and subsidiary Taylor Electrical Instruments Limited
- 1959: Olaer France S.A., Paris
- 1959: Towler Brothers (Patents) Limited
- May 1959: International Rectifier Co. (Great Britain) Limited, at Oxted, Surrey, joint-owned with International Rectifier of California[21]
- 1960: Lancashire Dynamo Group, including:
- Lancashire Dynamo Nevelin, Oxted
- Lancashire Dynamo & Crypto, Trafford Park (sold to A.E.I., 1967)
- Lancashire Dynamo Electronic Products
- Foster Transformers, Wimbledon & Leatherhead
- J. G. Statter & Co., Amersham
- 1961 or earlier: New Eagle Foundry, Birmingham[22]
- 1961 or earlier: Cable Jointers, Crypton Equipment, Dynamo & Motor Repairs, Minerva Mouldings
- 1961 or earlier: Metal Industries (Europe) S.A.
- 1961: Closure of Metal Industries (Salvage) Limited[23]
- 1963: M.I. (South Africa) (Pty.), renamed from Brookhirst Igranic South Africa (Pty.)
- 1963 or earlier: Dominion M.I. Limited, Montreal
- 1964 or earlier: Mattel-Marden Limited (joint owned)
- 1964: Acquisition of 50% of International Rectifier Corporation Italiana S.p.A.[24]
- 1965: Acquisition of 50% of International Rectifier Europe S.A.[25]
- 1966: Industrial Automation Controls Ltd.[26] (set up to coordinate Brookhirst Igranic and Lancashire Dynamo Electronic Products)
- 1966: Disposal of Fawcett Preston[27]
- Aug 1967: Acquired by Thorn[28]
- 1970: Merged into Six Hundred Metal Holdings
Chairmen edit
- 1922-1951: J Donald Pollock
- 1952-1955: Robert Watson McCrone
- 1955: J S Hutchison
- 1956-1964: Charles Westlake[29]
- 1965-? Alexander I. McKenzie
Notable salvage operations edit
- 1934: SMS Bayern, Scapa Flow[30]
- 1935: SMS König Albert, Scapa Flow[31]
- 1936: SMS Kaiserin, Scapa Flow[32]
- 1937: SMS Friedrich der Grosse, Scapa Flow[33]
- 1938: SMS Grosser Kurfürst, Scapa Flow[34]
- 1939: SMS Derfflinger, Scapa Flow[35]
- 1947: HMS Iron Duke, Scapa Flow[36]
- 1952: SS Oljaren, Pentland Firth[19]
- 1952: SS Margareta, Ailsa Craig[37]
- 1957: Lona, Hull[38]
- 1957: Suez Canal[38]
References edit
- ^ "Company Meeting", The Times, Sept 13, 1951, p.8
- ^ "Obituary: Robert Watson McCrone", The Times, Apr 10, 1982, p.10
- ^ Classified Advertisement, The Times, November 12, 1953, p.2
- ^ The Times, July 13, 1967, p.19
- ^ The Times, July 17, 1967, p.17
- ^ "City panel rejects need for market supervision", The Times, Jan 29, 1975, p.21
- ^ "Thorn" (advertisement), The Times, Aug 11, 1970, p.18
- ^ "Metal pair-up by '600' and Thorn", The Times, Apr 14, 1970, p.29
- ^ "BSC pay £3.75m for one-third interest in scrap processor", The Times, July 31, 1976, p.19
- ^ Frank C Bowen, "The Shipbreaking Industry", naval-history.net, accessed 2012-04-11
- ^ "Metal Industries", Grace's Guide, accessed 2012-04-11
- ^ Buxton 2019, p. 110
- ^ a b "City Notes". The Times. July 29, 1935. p. 18.
- ^ "City News in Brief", The Times, May 18, 1940, p.10
- ^ "Company Results", The Times, Dec 12, 1941, p.9
- ^ "City News in Brief", The Times, Apr 14, 1941, p.7
- ^ "Company Meetings", The Times, Sept 20, 1946, p.9
- ^ "Company Meetings", The Times, Aug 31, 1949, p.9
- ^ a b "Company Meetings", The Times, Sept 4, 1952, p.7
- ^ "Metal Industries expansion", The Times, Jan 21, 1955, p.12
- ^ "Metal Industries Limited" (advertisement), The Times, Aug 16, 1960, p.13
- ^ "Business Changes", The Times, Jan 27, 1961
- ^ Chairman's statement (advertisement), The Times, Aug 2, 1961, p.15
- ^ "M.I. drive in Europe", The Times, Jan 24, 1964, p.20
- ^ "Metal Ind. expands in Europe", The Times, July 2, 1965, p.23
- ^ The Times, Sep 23, 1966, p.19
- ^ Chairman's statement (advertisement), The Times, Aug 16, 1966, p.13
- ^ "A year of unprecedented growth" (Thorn advertisement), The Times, Aug 13, 1968, p.17
- ^ The Times, Aug 18, 1964, p.14
- ^ "A Salvage Feat", The Times, Sept 3, 1934, p.12
- ^ Share prospectus, The Times, July 29, 1935, p.19
- ^ "German dreadnought raised", The Times, May 15, 1936, p.9
- ^ "Scuttled battleship raised", The Times, May 1, 1937, p.13
- ^ "Grosser Kurfurst raised", The Times, Apr 27, 1938, p.20
- ^ "Derfflinger salved at Scapa Flow", The Times, July 25, 1939, p.9
- ^ Share prospectus, The Times, Apr 9, 1947, p.9
- ^ "Hope of salving Finnish ship", The Times, Dec 27, 1952, p.2
- ^ a b "Company Meetings", The Times, July 11, 1957, p.17