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In 1893, William Baird & Company was incorporated as William Baird & Company Ltd.
In 1931, the company's Ayrshire coal interests were combined with those of the Dalmellington Iron Company, of Dalmellington, East Ayrshire, to form Bairds & Dalmellington Ltd. The new company, seventy-five per cent of which was owned by William Baird & Company Ltd, controlled seventy per cent of the Ayrshire coalfields.
In around 1938, the company underwent reorganisation and entered voluntary liquidation. William Baird & Co Ltd was reconstituted, and the company's Lanarkshire interests were merged with the Scottish Iron & Steel Company Ltd, of Glasgow, to form Bairds & Scottish Steel Ltd, pig iron and steel manufacturers.