Parsons Marine Steam Turbine Company company. In 1944, Parsons was one of 19 companies which formed the 'Parsons and Marine Engineering Turbine Research and Development Association', usually known as Pametrada. The last ship to use a Parsons propulsion system was launched in 1964. The company was absorbed into C. A. Parsons and Company and survives in the Heaton area of Newcastle as part of Siemens, a German industrial conglomerate. Parsons Marine Steam Turbine Company Parsons Marine Steam Turbine Company was a British engineering company based in Wallsend, North East England, on the River Tyne. The company was founded by Charles Algernon Parsons in 1897 with
Adelaide Steamship Company and projects. Consequently, after the war, the company diversified into towage, shipbuilding, and the shipping of salt, coal and sugar. On 1 January 1964, its interstate fleet was merged with that of McIlwraith McEacharn in a new company, Associated Steamships Limited, in which Adelaide Steamship Company held 40%. Also in 1964, the merged company developed the world's first purpose built container ship, MV "Kooringa". Bulkships Limited, in which Adelaide Steamship held a 40% interest in 1965, acquired all the shares in Associated Steamship Limited in 1968. In 1977 the company's interest in Bulkships was disposed of and Adelaide Steamship Company