BRITISH STEEL INDUSTRY

Timaru Herald, Volume CLVIII, Issue 23261, 24 July 1945, Page 5

BRITISH STEEL INDUSTRY

Five-Year Plan Extensive Programme e i-Tapr.—S Z Fr. -s Assn—Copyright -7.30 p.m.) LONDON. July 22. A five-year plan in the British iron anil steel industry, involving ■in expenditure of £120,000.000 sterling, for increasing production by 20 per cent, is announced by Sir John Duncanson, commercial technicul director of the British Iron and Steel I ederation. The Daily Express" says the proune is , extensive that it will .. :■ all pails ol industrial Britain .. third of the nation's 08 blast Hu:..in v.:.: bi rebuilt or replaced by te t m dels National capacity . i pit lucing el will be raised from i4.5u0.000 to nearly 18.000.000 tons a - .1 much oi which will necessarily be expurled to fill some gap caused by the reduction in Germany's industry. The paper says that completion of the BiKi-n plan within live years will depend. ■1 > on adequate buildings, labou> and reasonable priority for 'i-i is.. . <2) ti’.e ao.iiiy of the British heavy engineering industry to manufacture equipment. It is probable that much equipment needed for most ot the modern mills and furnaces will be imported from America. It, is not proposed to ask any Government agencies to provide capital for the steel programme. Public investors will be asked to put up money to leading firms, al! of which will work under the reconstructed British Iron and Steel Federation. The programme will not lead to the direct employment of more StWl- . The whole idea is to produce steel more economically with labour-savit-g appliances. The Daily Express'’ says that Germany> iron and steel production is. being reduced from 27.000.000 to 10.000.000 tons a year Two out of ' ” three furnaces will be eliminated, most of the rolling mills will be dismantled and the huge Hermann Goering works will be quartered.