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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 [[thermostatic]] 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 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 [[thermostatic]] 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 Sarco Division in the United States of America of White Consolidated Industries Inc was purchased on the 29th of April 1983 and began trading as Spirax Sarco Inc. On the 26th of July 1983, the Escodyne Division in Canada of White Consolidated Industries Inc was purchased and began trading as Spirax Sarco Limited.
The Sarco Division in the United States of America of White Consolidated Industries Inc was purchased on the 29th of April 1983 and began trading as Spirax Sarco Inc. On the 26th of July 1983, the Escodyne Division in Canada of White Consolidated Industries Inc was purchased and began trading as Spirax Sarco Limited. On the 5th of December 1984, 95.5% of ''Tecnoeco Equipamentos Industriais Ltda'' of Portugal was acquired.


In 1990 the Company diversified in [[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 |access-date=1 April 2015 |publisher=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>
In 1990 the Company diversified in [[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 |access-date=1 April 2015 |publisher=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>

Revision as of 19:50, 5 December 2020

Spirax-Sarco Engineering plc
Company typePublic
LSE: SPX
IndustryManufacturing
Founded1888
HeadquartersCheltenham, England, UK
Key people
  • Jamie Pike (chair­person) Edit this on Wikidata
  • Nimesh Patel (CEO) Edit this on Wikidata
Revenue£1,242.4 million (2019)[1]
£282.7 million (2019)[1]
£167.0 million (2019)[1]
Websitewww.spiraxsarcoengineering.com

Spirax-Sarco Engineering plc (LSE: SPX) 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 Sarco Division in the United States of America of White Consolidated Industries Inc was purchased on the 29th of April 1983 and began trading as Spirax Sarco Inc. On the 26th of July 1983, the Escodyne Division in Canada of White Consolidated Industries Inc was purchased and began trading as Spirax Sarco Limited. On the 5th of December 1984, 95.5% of Tecnoeco Equipamentos Industriais Ltda of Portugal was acquired.

In 1990 the Company diversified in 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]

Operations

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)[17]
  • Watson-Marlow Fluid Technology Group: peristaltic pumps and associated fluid path technologies for the food, pharmaceutical, chemical and environmental industries[18]

Spirax-Sarco has operating units (operating companies, branches and associates) in 60 countries across the world.[19]

References

  1. ^ a b c "Preliminary Results 2019" (PDF). Spirax-Sarco Engineering. Retrieved 11 March 2020.
  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. 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 Engineering plc insider David J. Meredith Sells 4,911 Shares". Dakota Financial. 31 March 2015. Retrieved 7 April 2015.
  18. ^ "Watson-Marlow Fluid Technology Group". Copy book. Retrieved 7 April 2015.
  19. ^ "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=992534800"