Spirax-Sarco Engineering: Difference between revisions
Angryskies (talk | contribs) No edit summary |
update |
||
(42 intermediate revisions by 25 users not shown) | |||
Line 1: | Line 1: | ||
{{short description|Pump and hydraulics company}} |
|||
{{Use dmy dates|date=April 2015}} |
{{Use dmy dates|date=April 2015}} |
||
{{Use British English|date=April 2015}} |
{{Use British English|date=April 2015}} |
||
Line 6: | Line 7: | ||
| logo_size = |
| logo_size = |
||
| type = [[Public company|Public]] |
| type = [[Public company|Public]] |
||
| traded_as = {{lse|SPX}} |
| traded_as = {{lse|SPX}}<br/>[[FTSE 100 Index|FTSE 100]] component |
||
| foundation = 1888 |
| foundation = 1888 |
||
| location = [[Cheltenham]], England, UK |
| location = [[Cheltenham]], England, UK |
||
Line 12: | Line 13: | ||
| industry = [[Manufacturing]] |
| industry = [[Manufacturing]] |
||
| products = |
| products = |
||
| revenue = [[Pound sterling|£]]1, |
| 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 = [[Pound sterling|£]] |
| operating_income ={{decrease}} [[Pound sterling|£]]284.4 million (2023)<ref name=results/> |
||
| net_income = [[Pound sterling|£]] |
| net_income ={{decrease}} [[Pound sterling|£]]184.0 million (2023)<ref name=results/> |
||
⚫ | |||
| num_employees = |
|||
| parent = |
| parent = |
||
| subsid = |
| subsid = |
||
Line 23: | Line 24: | ||
}} |
}} |
||
'''Spirax-Sarco Engineering plc''' |
'''Spirax-Sarco Engineering plc''' is a British manufacturer of steam management systems and [[Peristalsis#Machinery|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== |
==History== |
||
[[File:Charlton House, Cheltenham.jpg|thumb|260px|Charlton House, Spirax-Sarco Engineering's head office in [[Cheltenham]]]] |
[[File:Charlton House, Cheltenham.jpg|thumb|260px|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 '''''Sa'''nders, '''R'''ehders & '''Co'''.'' ('Sarco') in [[London]] importing [[ |
The Company was founded by Herman Sanders in 1888 and after a Mr Rehders joined the business, established as '''''Sa'''nders, '''R'''ehders & '''Co'''.'' ('Sarco') in [[London]] importing [[thermostat]]ic steam traps from [[Germany]].<ref>{{Cite web |date=July 2008 |title=Top 100 Gloucestershire Companies |url=http://content.thisis.co.uk/gloucestershire07/top10008/page15.pdf |publisher=Westbusiness}}</ref> It started to manufacture [[steam trap]]s in [[United Kingdom]] under the ''Spirax'' brand name in 1932 and was first listed on the [[London Stock Exchange]] in 1959.<ref>{{Cite web |title=Stocks and prices |url=http://www.londonstockexchange.com/en-gb/pricesnews/prices/system/detailedprices.htm?sym=GB0008347048GBGBXSTMM0834704SPX |access-date=1 April 2015 |website=londonstockexchange.com}}</ref> 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.<ref>{{Cite web |title=Spirax-Sarco Engineering Fundamentals |url=http://www.financial-betting.com/course/shares/trading-spirax-sarco-shares |access-date=1 April 2015 |publisher=Financial Betting}}</ref> |
||
The company diversified into [[pump]] manufacturing in 1990 when it bought ''[[Watson-Marlow Pumps|Watson-Marlow]]''.<ref>{{Cite web |date=26 August 2008 |title=Convergence Investment For Falmouth Pump Manufacturer |url=http://www.businesscornwall.co.uk/news-by-industry/expansion/convergence-investment-for-falmouth-pump-manufacturer-123 |access-date=1 April 2015 |publisher=Business Cornwall}}</ref> It acquired the ''Jucker Industrial Division'', an [[Italy|Italian]] controls business, in 1993,<ref>{{Cite web |date=2 April 1993 |title=Spirax buys firms as profits rise |url=https://www.independent.co.uk/news/business/spirax-buys-firms-as-profits-rise-1452857.html |archive-url=https://ghostarchive.org/archive/20220524/https://www.independent.co.uk/news/business/spirax-buys-firms-as-profits-rise-1452857.html |archive-date=24 May 2022 |url-access=subscription |url-status=live |access-date=1 April 2015 |work=The Independent}}</ref> ''Bredel Hose Pumps'', a business manufacturing high-pressure hose pumps, in 1996<ref>{{Cite web |title=A brief history of pumps |url=http://www.worldpumps.com/view/37296/a-brief-history-of-pumps/ |access-date=1 April 2015 |publisher=World Pumps}}</ref> and ''M&M International'', an [[Italy|Italian]] piston actuated and [[solenoid]] valve business in 2001.<ref>{{Cite web |date=10 January 2002 |title=Acquisition of M&M International by Spirax Sarco |url=http://connection.ebscohost.com/c/articles/5905029/briefs |archive-url=https://web.archive.org/web/20150404210457/http://connection.ebscohost.com/c/articles/5905029/briefs |url-status=dead |archive-date=4 April 2015 |access-date=1 April 2015 |publisher=Supply House Times}}</ref> In September 2005 it acquired ''Mitech Actuators & Controls'' and ''Proportional Control Technology'', a pair of [[South Africa]]n businesses making process controls.<ref>{{Cite web |date=11 August 2006 |title=Local supplier prepares for big move |url=http://www.miningweekly.com/article.php?a_id=90342 |access-date=1 April 2015 |publisher=Mining Weekly}}</ref> Then later that year it bought ''EMCO Flow Systems'', a metering business.<ref>{{Cite web |date=August 2005 |title=Spirax-Sarco acquires EMCO Flow Systems |url=http://www.plantengineering.com/single-article/spirax-sarco-acquires-emco-flow-systems/4b4702e2ee6e75388d202be99d21bddf.html |access-date=1 April 2015 |publisher=Plant Engineering}}</ref> |
|||
The company acquired ''Intervalf'', a Turkish operation, for £2.8m in 2009.<ref>{{ |
The company acquired ''Intervalf'', a Turkish operation, for £2.8m in 2009.<ref>{{Cite web |date=8 April 2010 |title=Spirax Sarco buys Turkish operation |url=http://www.insidermedia.com/insider/south-west/6378-spirax-sarco-buys-turkish-operation/ |access-date=1 April 2015 |website=South West News}}</ref> 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.<ref>{{Cite web |title=How to Build a Factory and Distribution Centre in China |url=http://rightsite.asia/en/article/how-build-factory-and-distribution-centre-china |access-date=1 April 2015 |website=rightsite.asia}}</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>{{ |
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== |
==Operations== |
||
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> |
|||
The company has two main operations: |
|||
* Spirax-Sarco: 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|url=http://www.dakotafinancialnews.com/spirax-sarco-engineering-plc-insider-david-j-meredith-sells-4911-shares-spx/99575/|title=Spirax-Sarco Engineering plc insider David J. Meredith Sells 4,911 Shares|publisher=Dakota Financial|date=31 March 2015|accessdate=7 April 2015}}</ref> |
|||
* Watson-Marlow Fluid Technology Group: [[Peristaltic pump|peristaltic pumps]] and associated fluid path technologies for the food, pharmaceutical, chemical and environmental industries<ref>{{cite web|url=http://www.copybook.com/environmental/watson_marlow_pumps_group|title=Watson-Marlow Fluid Technology Group|publisher=Copy book|accessdate=7 April 2015}}</ref> |
|||
⚫ | |||
==References== |
==References== |
||
Line 49: | Line 48: | ||
{{FTSE 100 Index constituents}} |
{{FTSE 100 Index constituents}} |
||
{{Authority control}} |
|||
[[Category:Manufacturing companies established in 1888]] |
[[Category:Manufacturing companies established in 1888]] |
||
Line 55: | Line 56: | ||
[[Category:Companies listed on the London Stock Exchange]] |
[[Category:Companies listed on the London Stock Exchange]] |
||
[[Category:1888 establishments in England]] |
[[Category:1888 establishments in England]] |
||
[[Category:1950s initial public offerings]] |
|||
[[Category:Companies in the FTSE 100 Index]] |
|||
[[Category:British companies established in 1888]] |
|||
[[Category:Manufacturing companies of the United Kingdom]] |
|||
[[Category:Manufacturing companies based in London]] |
Latest revision as of 10:10, 7 March 2024
Company type | Public |
---|---|
LSE: SPX FTSE 100 component | |
Industry | Manufacturing |
Founded | 1888 |
Headquarters | Cheltenham, England, UK |
Key people | |
Revenue | £1,682.6 million (2023)[1] |
£284.4 million (2023)[1] | |
£184.0 million (2023)[1] | |
Number of employees | 10,400 (2024)[2] |
Website | www |
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]
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]
- ^ a b c "Preliminary Results 2023". Spirax-Sarco Engineering. Retrieved 7 March 2024.
- ^ "At a glance". Spirax-Sarco Engineering. Retrieved 12 February 2024.
- ^ "Top 100 Gloucestershire Companies" (PDF). Westbusiness. July 2008.
- ^ "Stocks and prices". londonstockexchange.com. Retrieved 1 April 2015.
- ^ "Spirax-Sarco Engineering Fundamentals". Financial Betting. Retrieved 1 April 2015.
- ^ "Convergence Investment For Falmouth Pump Manufacturer". Business Cornwall. 26 August 2008. Retrieved 1 April 2015.
- ^ "Spirax buys firms as profits rise". The Independent. 2 April 1993. Archived from the original on 24 May 2022. Retrieved 1 April 2015.
- ^ "A brief history of pumps". World Pumps. Retrieved 1 April 2015.
- ^ "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.
- ^ "Local supplier prepares for big move". Mining Weekly. 11 August 2006. Retrieved 1 April 2015.
- ^ "Spirax-Sarco acquires EMCO Flow Systems". Plant Engineering. August 2005. Retrieved 1 April 2015.
- ^ "Spirax Sarco buys Turkish operation". South West News. 8 April 2010. Retrieved 1 April 2015.
- ^ "How to Build a Factory and Distribution Centre in China". rightsite.asia. Retrieved 1 April 2015.
- ^ "UK Minister for Trade and Investment to attend St Petersburg International Economic Forum". fco.gov.uk. Retrieved 1 April 2015.
- ^ "Deputy Prime Minister praises Spirax Sarco's investment in UK manufacturing". Process and Control. 8 May 2012. Retrieved 1 April 2015.
- ^ "Spirax fails to tell markets of investor rebellion". The Telegraph. 24 May 2012. Retrieved 1 April 2015.
- ^ "Spirax Sarco Buys Business/Assets Of Chilean Distributor For £3.3 Mln". RTT News. 7 November 2012. Retrieved 1 April 2015.
- ^ a b "Spirax-Sarco to acquire Thermocoax in bid to boost US footprint". Shares Magazine. 18 February 2019. Retrieved 12 July 2022.
- ^ "New Brand for Spirax-Sarco". Punchline. Retrieved 22 February 2024.
- ^ "Spirax-Sarco Engineering plc insider David J. Meredith Sells 4,911 Shares". Dakota Financial. 31 March 2015. Retrieved 7 April 2015.
- ^ "Watson-Marlow Fluid Technology Group". Copy book. Retrieved 7 April 2015.
External links[edit]
- Manufacturing companies established in 1888
- Engineering companies of the United Kingdom
- Companies based in Cheltenham
- Companies listed on the London Stock Exchange
- 1888 establishments in England
- 1950s initial public offerings
- Companies in the FTSE 100 Index
- British companies established in 1888
- Manufacturing companies of the United Kingdom
- Manufacturing companies based in London