Economy of Lincoln
When owned by GEC in the late 1960s and early 1970s, many (if not the vast majority) of Lincoln engineering firms did not survive difficult financial conditions. This included Clayton Dewandre, (who made vacuum and air-pressure brake servos and associated equipment for commercial vehicles). W.H.Dorman had been bought by English Electric in 1961 and took over an old R & H factory on Beevor Street. Dormans would be bought by Perkins in 1993, then closed in 1995.
Only the GEC group of companies in Lincoln (including Dormans) survived the 1970s. The company actually expanded during this difficult time, helped by the fact that 80% of its engines were exported and the North Sea oil industry was rapidly expanding at this time, which required portable electricity generation and heating.
Read more about this topic: Ruston (engine Builder)
Famous quotes containing the words economy of, economy and/or lincoln:
“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)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“[The Declaration of Independence] meant to set up a standard maxim for free society, which should be familiar to all, and revered by all; constantly looked to, constantly labored for, and even though never perfectly attained, constantly approximated, and thereby constantly spreading and deepening its influence, and augmenting the happiness and value of life to all people of all colors everywhere.”
—Abraham Lincoln (1809–1865)