We have received the slightly belated news that Peter Steel a former director of Coles Cranes and member of the Steel family that owned the company for some time, has died.
He passed away on the 13th of June, just three days before his 84th birthday. He leaves behind his wife Barbara, children Phil, Sarah and Veronica, along with four grandchildren and his brother John.
Peter Steel
Peter Steel was the son of John Eric Steel who, with his brother James, developed Steels Engineering Products, a Sunderland based group that owned Coles Cranes from 1939 until it was acquired by Acrow in 1972. Under the direction of the Steel family the company acquired F. Taylor & Son and R.H. Neal & Company and at one point changed the name from Steels Engineering to British Crane & Excavator Corporation.
Peter's father Eric Steel had died suddenly in 1956, and when Peter left university with a degree in Economics in 1962, he decided not to join the family business, of which his uncle James Steel was now chairman – opting instead for a career in Estate Management.
At the Crown Works in Sunderland in the late 1970s /early 80s
However, in 1967 he was persuaded to join Coles Cranes at its headquarter Crown Works facility, in Sunderland. During the 1960s, Coles became the largest crane manufacturer in Europe with three plants in the UK, as well as production facilities in Germany, India, Australia and South Africa. In 1969, when Peter was working as sales liaison manager at Sunderland, he was seconded to the Indian factory – Tractors India Limited – later TIL - for about 18 months, helping the business transition to the production of telescopic cranes.
On his return to the UK, he was appointed to run the Coles factory at Grantham, which under his control concentrated on the manufacture of Coles Husky Rough Terrain cranes. During this time, Coles became the subject of an unwelcome takeover bid, and the management team negotiated and accepted a ‘white knight’ offer from Bill de Vigier, founder and owner of the Acrow Group, which became owners of the Steel Group in 1972.
Within a couple of years, Peter Steel was recalled from Grantham to the Sunderland factory, to take over as works director. He oversaw renewed investment in production, paint and test facilities, and welcomed visitors to the factory from around the world. Subsequently he became marketing and engineering director, in charge of the company’s new products department, including its purpose built Research Centre.
The opening of the new Jubilee fabrication facilityat the Sunderland plant in 1977- Bill de Vigier of Acrow (L) and Peter Steel
During the early 1980s with the UK economy suffering from high inflation and interest rates A number of industrial businesses collapsed, among them Acrow, which called in the receivers in September 1984. Coles was sold to its American based competitor Grove, at that time Peter Steel left the company, while his cousin David Steel remained as managing director.
He maintained a lifelong interest in rural development and farmed his own land for 33 years, but he also had considerable success in a range of different businesses and never fully retired. He was Northumberland County chairman of the Rural Development Commission for six years and worked as a trustee for various organisations. He became and remained a director of Talisman Underwriting from 1997, having been a Lloyds (Insurance) Name from 1979. In late 1990s he established a highly successful business based fundraising consultancy, which raised over £45 million for a wide range of charities.
Funeral Arrangements
Peter Steel’s funeral will be held on Friday the 25th of July at the church of St Bartholomew, Kirkwhelpington, Northumberland.
With much thanks to one of Peter Steel’s colleagues at Coles, Martyn Wilson
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