Metal Industries, Limited

"Metal Industries" redirects here. For other uses of "Metal Industries", see Metal Industries (disambiguation).

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]

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

Chairmen

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, Jul7 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. "City Notes", The Times, July 29, 1935, p.18
  13. "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. "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. "Company Meetings", The Times, Sept 4, 1952, p.7
  38. "Hope of salving Finnish ship", The Times, Dec 27, 1952, p.2
  39. 39.0 39.1 "Company Meetings", The Times, July 11, 1957, p.17