British Steel (1967–1999)

British Steel logo

British Steel (Scots: Breetish Steel) wis a major Breetish steel producer. It originated as a nationalised industry, the British Steel Corporation (BSC), formed in 1967. This wis converted tae a leemitit company, British Steel PLC, an privatised in 1988. It wis ance a constituent o the FTSE 100 Index but follaein mergers, the business is nou owned bi Corus, a Tata Steel company.

Nationalisation

BSC wis formed frae the assets o umwhile private companies which haed been nationalised, largely unner the Labour Party govrenment o Harold Wilson (1964–1970). Wilson's wis the seicont attempt at nationalisation, Clement Attlee's Iron and Steel Corporation of Great Britain haein been largely privatised bi the Conservative governments o the 1950s. Anly ane steel company, Richard Thomas and Baldwins, remained in public ainership throughout.