STEEL INDUSTRY

Evening Post, Volume CXXXVIII, Issue 134, 4 December 1944, Page 6

STEEL INDUSTRY

MODERNISATION PROGRAMME

One hundred million pounds will be spent by the British steel industry on the development of modernisation after the war, states Sir William Larke, director of the British Iron and bteel Federation, in a review of the industry's post-war problems pubiV shed» m T the London' "Financial News." "In the five years prior to the war," states Sir William, "an average of approximately £ 10,000,000 per annum was spent on the modernisation of industry. During, the war it is quite obvious that it has not been possible to continue the modernisation of industry on the same lines as before v- -,?*%?• Important improvements which have taken place during this period have been almost entirely de™fn^ d tOvFli et specialised war demand. With reasonable industrial prospects in the future of this country a + ,r• o rapid modernisation of the steel industry must be expected The expenditure of £100,000,000 has been mentioned in' this connection. Whatever may be the magnitude of the full programme required, there is no doubt that progress will be made on more urgent items immediately the n S SSS^ be released a*h