BRITISH OXYGEN EXPANSION
Having often stressed the merits, as a progressive industrial company, of British Oxygen, I am glad to see that this under- taking is back in the news with a purchase of _a substantial interest in the Odda Smelting Works,- the largest Norwegian producers of calcium carbide. For a long time British Oxygen has been striving to make itself independent in the matter of its carbide supplies, but the rejection by Parliament of its scheme for manufacturing in the Highlands compelled it to look further afield. The deal now carried through is therefore a fresh step in the company's policy of making itself a self- contained unit.
Even now it should not be assumed that the Highlands scheme is dropped. A Government Committee is considering schemes for the production of carbide, and if it reports favourably to the establishment of plants in this country, British Oxygen may go ahead with its plans. Meantime, the company's business in the manufacture of welding and cutting equipment, and the gases used in these processes, is steadily expanding. At Lsi the Li ordinary shares are not giving a high income return on the current rate of dividend, but they are a eromising lock-up purchase for capital appreciation.
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