Pressed Steel Company Limited was a British car body manufacturing business founded at Cowley near Oxford in 1926 as a joint venture between William Morris, Budd Corporation of Philadelphia USA, which held the controlling interest, and a British / American bank J. Henry Schroder & Co. At that time the company was named The Pressed Steel Company of Great Britain Limited. It acquired Budd's patent rights and processes for use in the United Kingdom. Morris transferred his interest to his company, Morris Motors Limited. Pressed Steel was acquired in 1965 by the British Motor Corporation and this led to BMC's acquisition of Jaguar later in 1965. At the end of 1966 BMC changed its name to British Motor Holdings (BMH). BMH merged with Leyland Motors in 1968 to create British Leyland and Pressed Steel's businesses were absorbed into the new conglomerate. Many components of the former Pressed Steel business were gradually divested following British Leyland's bankruptcy, nationalization and subsequent restructuring. Today three major Pressed Steel factories are still in operation. The Cowley plant is now where BMW's Mini is assembled, known as Plant Oxford. At the old Swindon plant the BMW subsidiary Swindon Pressings Limited, or Plant Swindon, produces parts for the new Mini. Lastly, Pressed Steel's former factory in Castle Bromwich now forms part of Jaguar's main assembly plant. Morris and Budd William Morris had recognised the potential of pressed steel car bodies being developed by Budd Corporation in U.S.A.and wanted them for his own cars. The new joint venture initially supplied car bodies to Morris's Morris Motors with its plant located alongside the new Pressed Steel plant across what became the A4142 spanned by a special bridge between plants. This was several years after Andre Citroen was co-operating with Budd in France for building Citroen car bodies. The venture was not a success. In May 1930 it was announced that arrangements had been concluded to place the Pressed Steel plant under British control. Operations had not gathered pace as expected. Many difficulties had been encountered. The British steel industry was unable to provide steel sheets large enough for the Budd machines and, once they came available, in any case American supplies were still 25% cheaper than local supplies. Tycoons William R. Morris and Edward G. Budd were unable to settle their differences. Budd took his troubles with Morris to the High Court, which decided in Budd's favour and