FIRST FACTORY UNDER U.S. AID TO START IN BRITAIN
(Rec 1 p.m.) LONDON, October 17
The first guaranteed investment project under the European Recovery Programme, involving the construction of a carbon black plant on the Mersey river, is announced by Mr Thomas K. Finletter, Minister in charge of the Economic Co-operation Administration to Britain. The project has been approved by the United Kingdom Government and the Economic Co-operation Administration. . A statement from the administration said the- construction of the plant, which would produce from 8000 to 10,000 tons of carbon black yearly, was expected to result in an estimated net reduction of the United Kingdom’s dollar requirements by about 1,500,000 dollars annually. The new plant will, therefore, reduce Britain’s dependence upon the United States for the product by about 20 per cent. . The plant is scheduled to be in lull operation within two years.
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Greymouth Evening Star, 18 October 1948, Page 5
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144FIRST FACTORY UNDER U.S. AID TO START IN BRITAIN Greymouth Evening Star, 18 October 1948, Page 5
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