Christopher Furness bought his shares in the shipyard and made Edward Withy’s brother, Henry Withy, managing director.
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Following Alexander’s retirement, Edward Withy carried on with the business alone and he founded Edward Withy and Company shipbuilders in 1874, being joined by his brother Henry Withy.
He started business at the beginning of 1868, and twelve months later saw him moving to Hartlepool, where he went into the yard of Withy, Alexander and Co. where his elder brother, Edward Withy was a partner.
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In 1891, the Furness Line Company of Christopher Furness and Edward Withy and Co. were merged in Hartlepool.