Platts (company)
| Platts, McGraw Hill Financial
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|---|---|
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| legal form | Division of a stock corporation |
| founding | 1909 |
| Seat | New York City |
| management | Larry Neal (President) |
| Number of employees | 1,000 ( FY 2013) |
| sales | USD 547 million (FY 2013) |
| Branch | Price information service |
| Website | www.platts.com |
Platts is a price information service for trading in energy , raw materials and agricultural products, in particular crude oil , natural gas , electricity, metals and sugar. Platts was founded in the USA in 1909 and has been part of McGraw-Hill since 1953 .
Company history
In 1909, reporter Warren C. Platt founded a publishing house in Cleveland , Ohio , to publish the monthly National Petroleum News. Its main content was price information for the oil industry. The original focus on crude oil has been expanded over time to include petrochemical products , metals, transport and other raw materials for power generation such as natural gas, coal, LNG and nuclear fuels. Trading in electricity is also the focus of special Platts publications.
In 1953, Platts was taken over by McGraw-Hill , where "Power Magazine" appeared, which focused in particular on the electricity market.
In early 2011, Platts acquired Bentek Energy , an information service founded in 1985 , which was particularly strong in the gas sector. In 2011, Platts acquired the Steel Business Briefing Group, founded in London in 2001, and The Steel Index (TSI), founded in 2006 . This made Platts the leading price information service in the metal sector. In 2012, Platts acquired the information service Kingsman , which was founded in 1990 and covers the sugar sector.
Platts is part of McGraw Hill Financial together with McGraw Hill Construction in the “Commodities & Commercial” (C&C) segment. This segment had fiscal 2013 revenue of $ 1,014 million and a profit of $ 311 million. Platts accounted for 54% of segment sales, or USD 547 million. A good two-thirds of Platts 2013 sales were generated with the 250 most important customers, an average of USD 1.3 million per “ A customer ”. The profit margin of the C&C segment of almost 31% was exceeded by Platts. In addition to the subscription to price feeds, the licensing of price data on exchanges made a particular contribution.
In 2013, as part of an investigation by the EU, the offices of Platts, BP , Shell and Statoil in London were searched because there was suspicion that the oil price had been manipulated for ten years. In order to avoid this accusation, a number of companies discontinued contact as a supplier of market data for Platts and other price information services.
Web links
Individual evidence
- ↑ About Platts on the company website (accessed November 2014)
- ↑ a b McGraw Hill Financial 2013 Annual Report ( Memento of the original dated May 31, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , Pp. 24-26.
- ↑ Platts (ed.): An Historical Perspective , 2009.
- ↑ Cathy Proctor: Bentek Energy to be purchased . In: Denver Business Journal December 14, 2010.
- ^ Anya Litvak: Steel Business Briefing, Gas Business Briefing sold . In: Pittsburgh Business Times, June 29, 2011.
- ^ Rupert Neate, Terry Macalister: BP and Shell raided in European commission price-rigging inquiry . In: The Guardian , May 15, 2013.
- ^ Terry Macalister: Price reporting agencies cut out of the loop . In: The Guardian , May 8, 2013.
