Battle to be the strongest link

In 2001 UK stockholders experienced the impact of weak steel prices worldwide and the effects of a further decline in UK manufacturing, state the UK's National Association of Steel Stockholders (Nass) in their annual report. Consolidation in the industry brought about by mergers of the largest steel producers and through mergers and acquisitions in the UK has resulted in a reduced membership base and reduced income to the association, which had a pre-tax loss of £24 367 in 2001.