OMPANY MEETINGS
WELLMAN SMITH OWEN ENGINEERING
IMPORTANT WAR ACTIVITIES
THE twenty-sixth ordinary general meeting of the Wellman Smith Owen gineering Corporation, Limited, was held on July 25th in London, Sir Samuel Roberts, Bt. (the chairman), presiding. The chairman, in the course of his speech, said: The profit and loss account shows a total trading profit of £92,697, which includes a sum of .43,336 from reserves made in previous periods now in excess of equirements. The directors recommend the payment of a final dividend 71 per cent., which incorporates the cash bonus which has been Glared in previous years, making a total distribution of 121 per cent.
The changeover from war-time work to normal production does not present any serious problem in the case of this company and has been fiery largely effected. The value of contracts on our books at March 31st, 1945, stood at ter Lt,000,000, and with the work in prospect arising out of the re- tquipment of the steel industry, indicates that your company's facilities will continue to be fully employed, and further contracts received since that date have confirmed this.
It is now possible for the first time for me to give you some account of the company's activities during the war years and of its important ontribution to the national war effort. Among the many and varied directions in which our designing and manufacturing facilities have been pnployed, one of the most interesting is the production of special plants for shell forging which were a development of the process perfected before the war for the manufacture of weldless tubes.
In addition, we provided the tool maintenance service to the shell lants installed in this country and abroad. At one period we had ',wards of too sub-contractors working under our organisation. We are formed that over 7o per cent. of the total number of 3.7 in. anti- aircraft shells, involving over 8o,00o,000 shell forgings, were made in Great Britain by plants of Wellman manufacture.
The company also contributed important mechanical details to the tquipment of the " Mulberry Harbour " scheme, which rendered possible the invasion of Europe on " D " Day, and also to the "Pluto " project for the pipe lines between this country and the Continent.
The report was adopted.
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