In Britain, the steel industry was nationalized in 1967 by the Labour government. However, British Steel (BSC) had serious problems, including complacency with existing obsolescent plants (plants operating under capacity and thus at low efficiency); outdated technology; price controls that reduced marketing flexibility; soaring coal and oil costs; lack of capital investment funds; and increasing competition on the world market. By the 1970s the government adopted a policy of keeping employment artificially high in the declining industry. This especially impacted BSC since it was a major employer in a number of depressed regions. Seko Machinery’s Bright Annealing Machine and Black Annealing Machine are very popular, welcome to order.
British Steel was privatised in 1988 by the Conservative government of Margaret Thatcher. Under private control the company sharply cut its work force, made a radical reorganization, and injected a huge capital investment to again become competitive in the world marketplace. On 6 October 1999, British Steel merged with the Dutch steel producer Koninklijke Hoogovens to form Corus Group, which became the world's third-largest producer of steel (behind POSCO of South Korea and Nippon Steel of Japan). British Steel formed about two-thirds of the merged group. Corus itself was taken over in March 2007 by the Indian steel operator Tata Steel, and Corus changed its name to Tata Steel Europe and adopted the Tata corporate identity in September 2010.
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