Spirax-Sarco Engineering: Difference between revisions

From Wikipedia, the free encyclopedia
Browse history interactively
← Previous edit
Content deleted Content added
VisualWikitext
m improve link: thermostatic (via WP:JWB)
update
 
(13 intermediate revisions by 7 users not shown)
Line 13: Line 13:
| industry = [[Manufacturing]]
| industry = [[Manufacturing]]
| products =
| products =
| revenue ={{increase}} [[Pound sterling|£]]1,344.5 million (2021)<ref name="results">{{Cite web |title=Preliminary Results 2021 |url=https://www.spiraxsarcoengineering.com/sites/spirax-sarco-corp/files/2021-FY-News-Release.pdf|access-date=10 March 2022|publisher=Spirax-Sarco Engineering}}</ref>
| revenue ={{increase}} [[Pound sterling|£]]1,682.6 million (2023)<ref name="results">{{Cite web |title=Preliminary Results 2023 |url=https://content.spiraxgroup.com/-/media/engineering/documents/results-and-agm-notices/2023/results/fy-2023-news-release.ashx?rev=aac3483a45594ea0b892e54af17d1f62&hash=109A7350201BE34C61AD7F88D0FFF644|access-date=7 March 2024|publisher=Spirax-Sarco Engineering}}</ref>
| operating_income ={{increase}} [[Pound sterling|£]]340.3 million (2021)<ref name=results/>
| operating_income ={{decrease}} [[Pound sterling|£]]284.4 million (2023)<ref name=results/>
| net_income ={{increase}} [[Pound sterling|£]]234.9 million (2021)<ref name=results/>
| net_income ={{decrease}} [[Pound sterling|£]]184.0 million (2023)<ref name=results/>
| num_employees = 7,800 (2022)<ref>{{cite web|url=https://craft.co/spirax-sarco-engineering|title=Spirax-Sarco Engineering|publisher=Craft|access-date=14 July 2022}}</ref>
| num_employees = 10,400 (2024)<ref>{{cite web|url=https://www.spiraxsarcoengineering.com/about-us/at-a-glance|title=At a glance|publisher=Spirax-Sarco Engineering|access-date=12 February 2024}}</ref>
| parent =
| parent =
| subsid =
| subsid =
Line 36: Line 36:
In 2011 the Minister for [[UK Trade & Investment]], [[Stephen Green, Baron Green of Hurstpierpoint|Lord Green]], opened the new Spirax Sarco facility in [[Saint Petersburg]], Russia<ref>{{Cite web |title=UK Minister for Trade and Investment to attend St Petersburg International Economic Forum |url=http://ukinromania.fco.gov.uk/en/news/?view=News&id=615981782 |access-date=1 April 2015 |website=fco.gov.uk}}</ref> and in May 2012 the Deputy Prime Minister, [[Nick Clegg]] visited Spirax Sarco’s manufacturing facility in [[Cheltenham]], Gloucestershire.<ref>{{Cite web |date=8 May 2012 |title=Deputy Prime Minister praises Spirax Sarco's investment in UK manufacturing |url=http://www.pandct.com/media/shownews.asp?ID=32832 |access-date=1 April 2015 |publisher=Process and Control}}</ref> In May 2012 there was a shareholder revolt after Spirax-Sarco paid a former Executive Director compensation of £783,660; the company compounded the problem by failing to inform the markets of the shareholder revolt as required by the [[Listing Rules]].<ref>{{Cite web |date=24 May 2012 |title=Spirax fails to tell markets of investor rebellion |url=https://www.telegraph.co.uk/finance/newsbysector/industry/engineering/9286505/Spirax-fails-to-tell-markets-of-investor-rebellion.html |access-date=1 April 2015 |publisher=The Telegraph}}</ref> Then in November 2012 the company bought ''Termodinámica'', a distributor based in [[Santiago de Chile]]<ref>{{Cite web |date=7 November 2012 |title=Spirax Sarco Buys Business/Assets Of Chilean Distributor For £3.3 Mln |url=http://www.rttnews.com/1999920/spirax-sarco-buys-business-assets-of-chilean-distributor-for-3-3-mln.aspx |access-date=1 April 2015 |publisher=RTT News}}</ref> and in February 2019 it bought Thermocoax, a US based business involved in the manufacture and supply of mineral insulated cable.<ref name=thermo>{{cite news|url= https://www.sharesmagazine.co.uk/news/shares/spirax-sarco-to-acquire-thermocoax-in-bid-to-boost-us-footprint |title=Spirax-Sarco to acquire Thermocoax in bid to boost US footprint|date=18 February 2019|newspaper=Shares Magazine|access-date=12 July 2022}}</ref>
In 2011 the Minister for [[UK Trade & Investment]], [[Stephen Green, Baron Green of Hurstpierpoint|Lord Green]], opened the new Spirax Sarco facility in [[Saint Petersburg]], Russia<ref>{{Cite web |title=UK Minister for Trade and Investment to attend St Petersburg International Economic Forum |url=http://ukinromania.fco.gov.uk/en/news/?view=News&id=615981782 |access-date=1 April 2015 |website=fco.gov.uk}}</ref> and in May 2012 the Deputy Prime Minister, [[Nick Clegg]] visited Spirax Sarco’s manufacturing facility in [[Cheltenham]], Gloucestershire.<ref>{{Cite web |date=8 May 2012 |title=Deputy Prime Minister praises Spirax Sarco's investment in UK manufacturing |url=http://www.pandct.com/media/shownews.asp?ID=32832 |access-date=1 April 2015 |publisher=Process and Control}}</ref> In May 2012 there was a shareholder revolt after Spirax-Sarco paid a former Executive Director compensation of £783,660; the company compounded the problem by failing to inform the markets of the shareholder revolt as required by the [[Listing Rules]].<ref>{{Cite web |date=24 May 2012 |title=Spirax fails to tell markets of investor rebellion |url=https://www.telegraph.co.uk/finance/newsbysector/industry/engineering/9286505/Spirax-fails-to-tell-markets-of-investor-rebellion.html |access-date=1 April 2015 |publisher=The Telegraph}}</ref> Then in November 2012 the company bought ''Termodinámica'', a distributor based in [[Santiago de Chile]]<ref>{{Cite web |date=7 November 2012 |title=Spirax Sarco Buys Business/Assets Of Chilean Distributor For £3.3 Mln |url=http://www.rttnews.com/1999920/spirax-sarco-buys-business-assets-of-chilean-distributor-for-3-3-mln.aspx |access-date=1 April 2015 |publisher=RTT News}}</ref> and in February 2019 it bought Thermocoax, a US based business involved in the manufacture and supply of mineral insulated cable.<ref name=thermo>{{cite news|url= https://www.sharesmagazine.co.uk/news/shares/spirax-sarco-to-acquire-thermocoax-in-bid-to-boost-us-footprint |title=Spirax-Sarco to acquire Thermocoax in bid to boost US footprint|date=18 February 2019|newspaper=Shares Magazine|access-date=12 July 2022}}</ref>


In February 2024, the company announced its intention to rebrand as Spirax Group, subject to shareholder approval.<ref>{{cite web|url=https://www.punchline-gloucester.com/articles/aanews/spirax-sarco-engineering-rebrands-as-spirax-group|title=New Brand for Spirax-Sarco|publisher=Punchline|access-date=22 February 2024}}</ref>
⚫
==Operations==
The company has three main operations:
* Steam Specialties: made up of Spirax-Sarco and Gestra, provides engineered solutions for the design, maintenance and provision of efficient industrial and commercial steam systems (from single products through to complete turnkey bespoke packages)<ref>{{Cite web |date=31 March 2015 |title=Spirax-Sarco Engineering plc insider David J. Meredith Sells 4,911 Shares |url=http://www.dakotafinancialnews.com/spirax-sarco-engineering-plc-insider-david-j-meredith-sells-4911-shares-spx/99575/ |access-date=7 April 2015 |publisher=Dakota Financial}}</ref>
* Electric Thermal Solutions (ETS): made up of Chromalox and Thermocoax, is a provider of advanced thermal technologies.<ref name=thermo/>
* Watson-Marlow Fluid Technology Solutions: [[peristaltic pump]]s and associated fluid path technologies for the food, pharmaceutical, chemical and environmental industries<ref>{{Cite web |title=Watson-Marlow Fluid Technology Group |url=http://www.copybook.com/environmental/watson_marlow_pumps_group |access-date=7 April 2015 |publisher=Copy book}}</ref>


⚫
==Operations==
Spirax-Sarco has operating units (operating companies, branches and associates) in 62 countries across the world.<ref>{{Cite web |title=Our global presence |url=https://www.spiraxsarcoengineering.com/about-us/our-global-presence |access-date=11 March 2020 |publisher=Spirax-Sarco Engineering}}</ref>
The company has three main operations: (i) Steam Specialties,<ref>{{Cite web |date=31 March 2015 |title=Spirax-Sarco Engineering plc insider David J. Meredith Sells 4,911 Shares |url=http://www.dakotafinancialnews.com/spirax-sarco-engineering-plc-insider-david-j-meredith-sells-4911-shares-spx/99575/ |access-date=7 April 2015 |publisher=Dakota Financial}}</ref> (ii) Electric Thermal Solutions<ref name=thermo/> and (iii) Watson-Marlow Fluid Technology Solutions.<ref>{{Cite web |title=Watson-Marlow Fluid Technology Group |url=http://www.copybook.com/environmental/watson_marlow_pumps_group |access-date=7 April 2015 |publisher=Copy book}}</ref>


==References==
==References==
Line 60: Line 57:
[[Category:1888 establishments in England]]
[[Category:1888 establishments in England]]
[[Category:1950s initial public offerings]]
[[Category:1950s initial public offerings]]
[[Category:Companies in the FTSE 100 Index]]
[[Category:British companies established in 1888]]
[[Category:British companies established in 1888]]
[[Category:Manufacturing companies of the United Kingdom]]
[[Category:Manufacturing companies of the United Kingdom]]

Latest revision as of 10:10, 7 March 2024

Spirax-Sarco Engineering plc
Company typePublic
LSE: SPX
FTSE 100 component
IndustryManufacturing
Founded1888
HeadquartersCheltenham, England, UK
Key people
  • Jamie Pike (chair­person) Edit this on Wikidata
  • Nimesh Patel (CEO) Edit this on Wikidata
RevenueIncrease £1,682.6 million (2023)[1]
Decrease £284.4 million (2023)[1]
Decrease £184.0 million (2023)[1]
Number of employees
10,400 (2024)[2]
Websitewww.spiraxsarcoengineering.com

Spirax-Sarco Engineering plc is a British manufacturer of steam management systems and peristaltic pumps and associated fluid path technologies. It is headquartered in Cheltenham, England. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

History[edit]

Charlton House, Spirax-Sarco Engineering's head office in Cheltenham

The Company was founded by Herman Sanders in 1888 and after a Mr Rehders joined the business, established as Sanders, Rehders & Co. ('Sarco') in London importing thermostatic steam traps from Germany.[3] It started to manufacture steam traps in United Kingdom under the Spirax brand name in 1932 and was first listed on the London Stock Exchange in 1959.[4] In 1960 a range of self-acting pressure controls are introduced for the first time: then in 1963 it bought Drayton Controls, a control valve and instrumentation business.[5]

The company diversified into pump manufacturing in 1990 when it bought Watson-Marlow.[6] It acquired the Jucker Industrial Division, an Italian controls business, in 1993,[7] Bredel Hose Pumps, a business manufacturing high-pressure hose pumps, in 1996[8] and M&M International, an Italian piston actuated and solenoid valve business in 2001.[9] In September 2005 it acquired Mitech Actuators & Controls and Proportional Control Technology, a pair of South African businesses making process controls.[10] Then later that year it bought EMCO Flow Systems, a metering business.[11]

The company acquired Intervalf, a Turkish operation, for £2.8m in 2009.[12] It completed a new facility in Shanghai, China in June 2010: the plant, designed as Spirax's regional headquarters, combines a factory, warehouse, and offices.[13]

In 2011 the Minister for UK Trade & Investment, Lord Green, opened the new Spirax Sarco facility in Saint Petersburg, Russia[14] and in May 2012 the Deputy Prime Minister, Nick Clegg visited Spirax Sarco’s manufacturing facility in Cheltenham, Gloucestershire.[15] In May 2012 there was a shareholder revolt after Spirax-Sarco paid a former Executive Director compensation of £783,660; the company compounded the problem by failing to inform the markets of the shareholder revolt as required by the Listing Rules.[16] Then in November 2012 the company bought Termodinámica, a distributor based in Santiago de Chile[17] and in February 2019 it bought Thermocoax, a US based business involved in the manufacture and supply of mineral insulated cable.[18]

In February 2024, the company announced its intention to rebrand as Spirax Group, subject to shareholder approval.[19]

Operations[edit]

The company has three main operations: (i) Steam Specialties,[20] (ii) Electric Thermal Solutions[18] and (iii) Watson-Marlow Fluid Technology Solutions.[21]

References[edit]

  1. ^ a b c "Preliminary Results 2023". Spirax-Sarco Engineering. Retrieved 7 March 2024.
  2. ^ "At a glance". Spirax-Sarco Engineering. Retrieved 12 February 2024.
  3. ^ "Top 100 Gloucestershire Companies" (PDF). Westbusiness. July 2008.
  4. ^ "Stocks and prices". londonstockexchange.com. Retrieved 1 April 2015.
  5. ^ "Spirax-Sarco Engineering Fundamentals". Financial Betting. Retrieved 1 April 2015.
  6. ^ "Convergence Investment For Falmouth Pump Manufacturer". Business Cornwall. 26 August 2008. Retrieved 1 April 2015.
  7. ^ "Spirax buys firms as profits rise". The Independent. 2 April 1993. Archived from the original on 24 May 2022. Retrieved 1 April 2015.
  8. ^ "A brief history of pumps". World Pumps. Retrieved 1 April 2015.
  9. ^ "Acquisition of M&M International by Spirax Sarco". Supply House Times. 10 January 2002. Archived from the original on 4 April 2015. Retrieved 1 April 2015.
  10. ^ "Local supplier prepares for big move". Mining Weekly. 11 August 2006. Retrieved 1 April 2015.
  11. ^ "Spirax-Sarco acquires EMCO Flow Systems". Plant Engineering. August 2005. Retrieved 1 April 2015.
  12. ^ "Spirax Sarco buys Turkish operation". South West News. 8 April 2010. Retrieved 1 April 2015.
  13. ^ "How to Build a Factory and Distribution Centre in China". rightsite.asia. Retrieved 1 April 2015.
  14. ^ "UK Minister for Trade and Investment to attend St Petersburg International Economic Forum". fco.gov.uk. Retrieved 1 April 2015.
  15. ^ "Deputy Prime Minister praises Spirax Sarco's investment in UK manufacturing". Process and Control. 8 May 2012. Retrieved 1 April 2015.
  16. ^ "Spirax fails to tell markets of investor rebellion". The Telegraph. 24 May 2012. Retrieved 1 April 2015.
  17. ^ "Spirax Sarco Buys Business/Assets Of Chilean Distributor For £3.3 Mln". RTT News. 7 November 2012. Retrieved 1 April 2015.
  18. ^ a b "Spirax-Sarco to acquire Thermocoax in bid to boost US footprint". Shares Magazine. 18 February 2019. Retrieved 12 July 2022.
  19. ^ "New Brand for Spirax-Sarco". Punchline. Retrieved 22 February 2024.
  20. ^ "Spirax-Sarco Engineering plc insider David J. Meredith Sells 4,911 Shares". Dakota Financial. 31 March 2015. Retrieved 7 April 2015.
  21. ^ "Watson-Marlow Fluid Technology Group". Copy book. Retrieved 7 April 2015.

External links[edit]

Retrieved from "https://en.wikipedia.org/w/index.php?title=Spirax-Sarco_Engineering&oldid=1212339440"