Grace's Guide is the leading source of historical information on industry and manufacturing in Britain. This web publication contains 142,955 pages of information and 228,874 images on early companies, their products and the people who designed and built them.
1966 Established by the Labour Government to promote industrial competitiveness in Britain by encouraging mergers to form large industrial groups
Promoted, encouraged and supported more than 50 mergers involving more than 150 companies. Some of the more prominent mergers that the IRC was involved in included: GEC-AEI-English Electric, the rescue of Rolls-Royce, the prevention of the foreign takeover of the ball bearing industry, British Motor Holdings-Leyland merger. One of its main successes was encouraging interchange of key personnel between the public and private sectors
The IRC showed that there was need for a vehicle that provided a bridge between finance and industry, that could channel public money to investments of national importance that were not necessarily immediately profitable, and that operated in a professional and unflamboyant way
1970 Disbanded by the Conservative Government; the investments were sold off over the next 2 years.
1971 It was estimated that the IRC had made investments worth c.£100 million in the private sector, which would be disposed of