Economy
The town's main employers in the post-war era were the nearby Teesside Steelworks at Warrenby, founded by Dorman Long in 1917, and the ICI Wilton chemical works. The steel produced at Dorman Long was used to build the Sydney Harbour Bridge, Tyne Bridge, Auckland Harbour Bridge and many others. After a two-year hiatus following the mothballing of the plant in February 2010, steel is once again being made at Redcar. The Thai owners of the former Corus Plant at Lackenby, Sahaviriya Steel Industries (SSI), re-ignited the blast furnace—the largest in Europe, on 15 April 2012. Both the Warrenby and Lackenby sites became part of Tata Steel when Corus was taken over in 2007, but continued to trade under the Corus name until at least February 2008. SSI bought the plant from Tata Steel in February 2011, for £320 million.
There is a small inshore fishing fleet in Redcar catching lobster, crab and fish, and offering fishing trips to tourists. As high tide at Redcar now comes up to the sea wall, fishing cobles are permitted to park up with their trailers on a broad section of sea front pavement.
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Lackenby Steelworks at night
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Warrenby blast furnace, September 2011
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Fishing boats on the promenade
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Famous quotes containing the word economy:
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)