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British Steel was a large British steel producer, consisting of the assets of former private companies which had been nationalised, largely under the Labour Party government of Harold Wilson (1964-1970).
In 1971, they sponsored Sir Chay Blyth in his record-making non-stop circumnavigation against the winds and currents, known as 'The Impossible Voyage'. In 1992 they sponsored the British Steel Challenge, the first of a series of 'wrong way' races for amateur crews.
It was privatised in 1988 under the Conservative government of Margaret Thatcher. It merged with the Dutch steel producer Koninklijke Hoogovens to form Corus Group on 6 October 1999. *
Incorporated companies
Decline of the British steel industry
With nationalisation in 1967 the Corby steel works was just one of those that came under the control of British Steel. From the mid-1970s the (loss-making) British Steel pursued a strategy of concentrating steelmaking in five areas: South Wales, South Yorkshire, Scunthorpe, Teeside and Scotland. This policy continued following the Conservative victory in the 1979 General Election. As a result Corby suffered and the early 1980s saw the loss of 11,000 jobs leading to an unemployment rate of over 30%*.Another town that suffered was Consett; the closure of the British Steel works at in 1980 marked the end of steel production in the Derwent Valley and the decline of the areas.
British Steel's chairman at one point was Ian MacGregor, who would become famous for his role at British Coal and the UK miners' strike (1984-1985). During the strike the "Battle of Orgreave" took place at British Steel's coking plant.
Defunct companies of the United Kingdom | Steel companies | Companies formerly listed on the London Stock Exchange | Former nationalised industries of the United Kingdom
"British Steel"