Howard Smith Limited is a diversified company whose activities include towage, ship salvage, ships' agency, investment in container terminals, distribution of metals, manufacture of railway rolling stock, heavy engineering and maintenance services. Howard Smith left the shipping sector in fiscal 1997. The company has operations in Australia and the United Kingdom. During 2000, the company acquired Baystar Marine Services. Hardware distribution accounted for 59% of fiscal 2000 revenues; industrial distribution, 33%; and port towage, 8%.