With the idea of eliminating re-Jdundant shipyards and securing more economical working by _con-Jeentrating building within fewer Fi tareas, British shipbuilders have reistered a company entitled Nationfal Shipbuilders Security, Ltd. thas a nominal capital of £10,000, but possesses borrowing powers up to $3,000,000, The objects of the new company include the purchase of redundant jor obsolete shipyards, the disposal fof their contents and the re-sale of the sites subject to the proviso that they will not be used in future for shipbuilding purposes.
'The company' is supported by most of the leading shipbuilding concerns on the north-east coast and in Barrow, Birkenhead and Belfast. Tt also has the support of all the leading firms on the Clyde.
Tt is stated that the scheme does not represent an almagamation of shipbuilding interests, The National Shipbuilders Security, Limited, state that the industry during the past two years has been ly consolidating its position.
Able to meet foreign competition and is now building over 50 er cent, of the world's tonnage, The shipbuilding problem, "how. lever, the statement continues, will [gradually become more acute' each year owing to the curtailment warship construction. Although a number of shipbuilding firms have closed down in recent. years it is considered that the volume capacity is still too large-and_ the ation generally is more difficult owing to the steady increase in the average size of merchant ships and the smaller number of berths. now required for the same quantity of tonnage.
The Company believe that the elimination of redundant capacity will eventually create more employ ment instead of less owing to the ability to engage more successfully {in world competition—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.