Volume Four - An Era of Change, Uncertainty, Depression & War - The Penarth Dock Engineering Company Limited . . .

Penarth Pontoon and Ship Repairing Company Limited changed name in 1961 to the Penarth Dock Engineering Company Limited [070] and with subsidiary companies Hodges (Barry) Engineering (first incorporated in December 1898, dissolved February 1982). Fownes Forge and the Penarth Heating Engineers Limited, (later Penrad Limited) were engaged in ship repairs, general and precision engineering; and in Penrad's case, the manufacture of central heating radiators.

The British Transport Commission held a 37% shareholding in the Penarth parent company at 31st October 1962, but under the Transport Act of 1962, these passed to the Transport Holding Company (THC) on 1st January 1963, which was a government owned company. They had duties to administer a range of state owned companies including Thomas Cook, Pickfords, other transport and shipping companies etc., who were basically "hived-off" to private companies for much under their true market value. Questions were raised in the house! By 1970, the THC assets were privatised and the company dissolved. [016] [088]

Fownes Forge and Engineering Co. Ltd. originated in Bede, on Tyneside in 1898 but went into voluntary liquidation and was closed out by extraordinary resolution in October 1930. The Cardiff Forge also became the Fownes Forge and Engineering Co. Ltd. formed from the demise of Barrett's Engineers. Mr. Barrett had been established since 1874 with premises situated at Cardiff docks.

An interesting story dating back to March 1904 was that the Court of Appeal heard an appeal from the King's Bench Division upon an earlier ruling in a dispute between the Prince of Wales Dry Dock Company (Swansea) v. Fownes Forge and Engineering Company Limited. The case was that: “The plaintiff's having undertaken the repairs of a steamship, employed the defendants, an engineering company, to construct a new crankshaft. The defendants agreed to do so upon the terms of their not being responsible for failure of material or workmanship beyond the replacement of faulty work supplied by them.” The ship “Alcester” upon completion of repairs set out on a voyage but had to put into Naples for temporary repairs and upon return the England, she had to be fitted with a new crankshaft."

They refused to pay for the replacement crankshaft, were subsequently sued and lost with costs when it was ruled that they had a common law liability not to supply faulty goods! A new company was formed following the voluntary liquidation [100] at Newcastle-upon-Tyne of the Fownes Forge & Engineering Co. Ltd. in April 1928 being the Fownes Forge & Engineering Co. (1928) Ltd. which was still then based at Cardiff Docks.