The investors in the burgeoning mining and railway industries decided that greater profits could be made by smelting the iron ore and converting the resultant pig-iron into steel, and then exporting the finished product. Schneider and James Ramsden, the railway's general manager, erected blast furnaces at Barrow that by 1876 formed the largest steelworks in the world. Its success was a result of the availability of local iron ore and coal from the Cumberland mines and easy rail and sea transport. The Furness Railway, which counted local aristocrats William Cavendish, 7th Duke of Devonshire and the Duke of Buccleuch as investors, kick-started the Industrial Revolution on the peninsula. The railway brought mined ore to the town, where the steelworks produced large quantities of steel. It was used for shipbuilding, and derived products such as rails were also exported from the newly built docks.