Western Europe: Cold Steel

WESTERN EUROPE

Western Europe's steel industry is sick. With a few exceptions, European steel plants are too old, too small and too far from seaports to compete in the world market. All this requires drastic action, which is now being taken in several countries.

Three Kinds of Effort. West Germany has seen three big steel mergers since 1964. Moreover, 31 steel companies have asked the European Coal and Steel Community for permission to form themselves into four competing cartels that would provide joint marketing services, coordinate investment and give specialized roles to different factories. The Community is expected to approve reluctantly in a...

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