Lord Melchett "Fights for survival" as chairman of British steel corporation.: Lord Melchett is fighting for survival as 25,000 a year chairman of the State owned British Steel Corporation. Pressure is mounting in the Cabinet for a big management shake-up following an "early-warning" memorandum to the Government revealing: Losses of near £20 million are estimated for the year ending next month compared with an original forecast of £100 million profit. Price rises of up to 20 p.c. are to be applied for - the fifth increase in less than two years to raise another £200 million a year from industry. Photo shows Lord Melchett chairman of the British Steel Corporation.
Photo measures 6 x 8.25 inches.
Photo is dated 2-22-1971.
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