Spirax-Sarco Engineering: Difference between revisions

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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>
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>{{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>
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>


==Operations==
==Operations==

Revision as of 14:52, 12 July 2022

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 £1,344.5 million (2021)[1]
Increase £340.3 million (2021)[1]
Increase £234.9 million (2021)[1]
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

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.[2] 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.[3] 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.[4]

The company diversified into pump manufacturing in 1990 when it bought Watson-Marlow.[5] It acquired the Jucker Industrial Division, an Italian controls business, in 1993,[6] Bredel Hose Pumps, a business manufacturing high-pressure hose pumps, in 1996[7] and M&M International, an Italian piston actuated and solenoid valve business in 2001.[8] In September 2005 it acquired Mitech Actuators & Controls and Proportional Control Technology, a pair of South African businesses making process controls.[9] Then later that year it bought EMCO Flow Systems, a metering business.[10]

The company acquired Intervalf, a Turkish operation, for £2.8m in 2009.[11] 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.[12]

In 2011 the Minister for UK Trade & Investment, Lord Green, opened the new Spirax Sarco facility in Saint Petersburg, Russia[13] and in May 2012 the Deputy Prime Minister, Nick Clegg visited Spirax Sarco’s manufacturing facility in Cheltenham, Gloucestershire.[14] 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.[15] Then in November 2012 the company bought Termodinámica, a distributor based in Santiago de Chile[16] and in February 2019 it bought Thermocoax, a US based business involved in the manufacture and supply of mineral insulated cable.[17]

Operations

The company has three 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)[18]
  • Electric Thermal Solutions (ETS): made up of Chromalox and Thermocoax, is a provider of advanced thermal technologies and temperature management solutions.
  • Watson-Marlow Fluid Technology Solutions: peristaltic pumps and associated fluid path technologies for the food, pharmaceutical, chemical and environmental industries[19]

Spirax-Sarco has operating units (operating companies, branches and associates) in 62 countries across the world.[20]

References

  1. ^ a b c "Preliminary Results 2021" (PDF). Spirax-Sarco Engineering. Retrieved 10 March 2022.
  2. ^ "Top 100 Gloucestershire Companies" (PDF). Westbusiness. July 2008.
  3. ^ "Stocks and prices". londonstockexchange.com. Retrieved 1 April 2015.
  4. ^ "Spirax-Sarco Engineering Fundamentals". Financial Betting. Retrieved 1 April 2015.
  5. ^ "Convergence Investment For Falmouth Pump Manufacturer". Business Cornwall. 26 August 2008. Retrieved 1 April 2015.
  6. ^ "Spirax buys firms as profits rise". The Independent. 2 April 1993. Archived from the original on 24 May 2022. Retrieved 1 April 2015.
  7. ^ "A brief history of pumps". World Pumps. Retrieved 1 April 2015.
  8. ^ "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.
  9. ^ "Local supplier prepares for big move". Mining Weekly. 11 August 2006. Retrieved 1 April 2015.
  10. ^ "Spirax-Sarco acquires EMCO Flow Systems". Plant Engineering. August 2005. Retrieved 1 April 2015.
  11. ^ "Spirax Sarco buys Turkish operation". South West News. 8 April 2010. Retrieved 1 April 2015.
  12. ^ "How to Build a Factory and Distribution Centre in China". rightsite.asia. Retrieved 1 April 2015.
  13. ^ "UK Minister for Trade and Investment to attend St Petersburg International Economic Forum". fco.gov.uk. Retrieved 1 April 2015.
  14. ^ "Deputy Prime Minister praises Spirax Sarco's investment in UK manufacturing". Process and Control. 8 May 2012. Retrieved 1 April 2015.
  15. ^ "Spirax fails to tell markets of investor rebellion". The Telegraph. 24 May 2012. Retrieved 1 April 2015.
  16. ^ "Spirax Sarco Buys Business/Assets Of Chilean Distributor For £3.3 Mln". RTT News. 7 November 2012. Retrieved 1 April 2015.
  17. ^ "Spirax-Sarco to acquire Thermocoax in bid to boost US footprint". Shares Magazine. 18 February 2019. Retrieved 12 July 2022.
  18. ^ "Spirax-Sarco Engineering plc insider David J. Meredith Sells 4,911 Shares". Dakota Financial. 31 March 2015. Retrieved 7 April 2015.
  19. ^ "Watson-Marlow Fluid Technology Group". Copy book. Retrieved 7 April 2015.
  20. ^ "Our global presence". Spirax-Sarco Engineering. Retrieved 11 March 2020.

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=Spirax-Sarco_Engineering&oldid=1097759133"