An Important Project
IT is• with considerable satisfaction that I am ,able to refer this week to an important industrial development of -a wholly favourable character and one, moreover, promises immediate employment to a great number of individuals. Stewarts and Lloyds and Tube Investments, which at present control something like 80 per cent. of the steel tube industry in this country, are restarting in Northamptonshire the manufacture of Basic Bessemer steel and the announcement is regarded as marking the beginning of a new epoch in the history of the company, while successful achievements will b'e of material help in the future development of the nation's steel and iron industry.
The company possess or control large deposits of iron ore in Northamptonshire covering some 26,000 acres and amounting to some 500 million tons of ore. As the result of expert investigation it has been found possible to produce from this iron ore a pig-iron eminently suitable for the manufacture of Basic Bessemer steel at a low cost. It is, therefore, now intended to develop this property on a large scale and to commence the manufacture of Bessemer steel as soon as the works can be in operation. As part of this policy Stewarts and Lloyds have taken over certain subsidiary companies and have joint ownership in Bromford Tube Company and Howells, Limited, while they have made liaison arrange- ments with Tube Investments, Limited. Work is to be commenced at once and it is estimated that in one way and another employment will be given to some thousands of men.
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