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

  • 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

  • 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

References

  1. "Company Meeting", The Times, Sept 13, 1951, p.8
  2. "Obituary: Robert Watson McCrone", The Times, Apr 10, 1982, p.10
  3. Classified Advertisement, The Times, November 12, 1953, p.2
  4. The Times, July 13, 1967, p.19
  5. The Times, July 17, 1967, p.17
  6. "City panel rejects need for market supervision", The Times, Jan 29, 1975, p.21
  7. "Thorn" (advertisement), The Times, Aug 11, 1970, p.18
  8. "Metal pair-up by '600' and Thorn", The Times, Apr 14, 1970, p.29
  9. "BSC pay £3.75m for one-third interest in scrap processor", The Times, July 31, 1976, p.19
  10. Frank C Bowen, "The Shipbreaking Industry", naval-history.net, accessed 2012-04-11
  11. "Metal Industries", Grace's Guide, accessed 2012-04-11
  12. Buxton 2019, p. 110
  13. 1 2 "City Notes". The Times. July 29, 1935. p. 18.
  14. "City News in Brief", The Times, May 18, 1940, p.10
  15. "Company Results", The Times, Dec 12, 1941, p.9
  16. "City News in Brief", The Times, Apr 14, 1941, p.7
  17. "Company Meetings", The Times, Sept 20, 1946, p.9
  18. "Company Meetings", The Times, Aug 31, 1949, p.9
  19. 1 2 "Company Meetings", The Times, Sept 4, 1952, p.7
  20. "Metal Industries expansion", The Times, Jan 21, 1955, p.12
  21. "Metal Industries Limited" (advertisement), The Times, Aug 16, 1960, p.13
  22. "Business Changes", The Times, Jan 27, 1961
  23. Chairman's statement (advertisement), The Times, Aug 2, 1961, p.15
  24. "M.I. drive in Europe", The Times, Jan 24, 1964, p.20
  25. "Metal Ind. expands in Europe", The Times, July 2, 1965, p.23
  26. The Times, Sep 23, 1966, p.19
  27. Chairman's statement (advertisement), The Times, Aug 16, 1966, p.13
  28. "A year of unprecedented growth" (Thorn advertisement), The Times, Aug 13, 1968, p.17
  29. The Times, Aug 18, 1964, p.14
  30. "A Salvage Feat", The Times, Sept 3, 1934, p.12
  31. Share prospectus, The Times, July 29, 1935, p.19
  32. "German dreadnought raised", The Times, May 15, 1936, p.9
  33. "Scuttled battleship raised", The Times, May 1, 1937, p.13
  34. "Grosser Kurfurst raised", The Times, Apr 27, 1938, p.20
  35. "Derfflinger salved at Scapa Flow", The Times, July 25, 1939, p.9
  36. Share prospectus, The Times, Apr 9, 1947, p.9
  37. "Hope of salving Finnish ship", The Times, Dec 27, 1952, p.2
  38. 1 2 "Company Meetings", The Times, July 11, 1957, p.17

Bibliography

  • Buxton, Ian L. (1992). Metal Industries: Shipbreaking at Rosyth and Charlestown. Kendal, UK: World Ship Society. OCLC 28617824.
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