Man-Made Fibres
The National Plan looked for a 14 per cent p.a. growth rate in man-made fibres and this was not unreasonable, seeing that the UK output had grown 12 per cent annually over the past few years. Nylon now accounts for 17 per cent of the total and is still increasing its share. British Nylon Spinners, which pioneered the production of Nylon 66, is now owned wholly by ICI. COURTAULDS, after leaving BNS, has been de- veloping a competing form of nylon known as Nylon 6. which is also produced by BRITISH I-NKALON, a subsidiary of the Dutch AKU. While this intense competition is going on, profit mar- gins will be cut and the shares must be expected to offer comparatively high yields—ICI, at 43s., 5.8 per cent, and Courtaulds, at 20s. 3d., 6.1 per cent. But the long-term outlook is encouraging. The low cost of imported raw materials in man- made fibre production, contrasting with the heavy import content of the natural fibre production. makes it essential that this industry should be encouraged to go ahead for balance of payments reasons.
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