Charter International
{{short description|British engineering firm}}
{{Infobox company
| name = Charter International plc
| logo = Charter logo.svg
| logo_size = 210px
| type = Public ({{lse|CHTR}})
| foundation = 1965
| key_people = Lars Emilson, Chairman
Michael Foster, CEO
| industry = Engineering
| products =
| revenue = £1,719.6 million (2010){{cite web |url = http://www.charter.ie/chtr_int/media/releases/2010releases/2010-02-19/2010-02-19b.pdf |title = Annual Report 2010 |archive-url=https://web.archive.org/web/20110721123253/http://www.charter.ie/chtr_int/media/releases/2010releases/2010-02-19/2010-02-19b.pdf |archive-date=21 July 2011 |publisher = Charter International}}
| operating_income = £145.9 million (2010)
| net_income = £118.9 million (2010)
| num_employees = 12,313 (2010)
| parent = Colfax Corporation
| subsid =
| homepage = [https://web.archive.org/web/20100201100015/http://www.charter.ie/ www.charter.ie]
| caption =
| footnotes =
}}
Charter International plc was a large British engineering business based in London. It was acquired by Colfax Corporation in January 2012.
History
Charter International's origins can be traced back to the British South Africa Company, which was founded in 1889 by Royal Charter.{{cite web |url = http://www.charter.ie/chtr_int/about/history/ |publisher = Charter International |title = History |archive-url=https://web.archive.org/web/20081212114613/http://www.charter.ie/chtr_int/about/history/ |archive-date=12 December 2008 }} During 1965, on the initiative of Anglo American Corporation, the company merged with The Central Mining & Investment Corporation and The Consolidated Mines Selection Company; the combined company was called Charter Consolidated. Slightly over one-third of the shares of the newly-created company were owned by Anglo American Corporation. At the time of its formation, the firm's assets were mainly mining investments and its strategy was to develop as a mining finance house actively engaged in mineral exploration and the development of mines throughout the world.
Throughout the 1980s, Charter Consolidated gradually disposed of its overseas mining concerns, opting to instead concentrate on its British engineering interests. It also acquired 80% of Morrison Construction, although the Morrison family repurchased the shares in 1989.{{cite news|url=https://www.independent.co.uk/news/business/morrison-float-to-bolster-builders-1598523.html|title=Morrison float to bolster builders|website=independent.co.uk|date=29 August 1995|access-date=23 July 2022}}
During 1993, the company's name changed to Charter plc.
In 1994, it acquired ESAB;{{cite web |url = http://findarticles.com/p/articles/mi_hb5946/is_199410/ai_n24027267 |title = No deals please: we are Swedish |website = findarticles.com }} three years later, the company also acquired Howden.{{cite web |url = http://www.bieinterim.co.uk/interim-management/corporate.jsp |title = Guide to interim management |website = bieinterim.com |archive-url=https://web.archive.org/web/20080510145937/http://www.bieinterim.co.uk/interim-management/corporate.jsp |archive-date=10 May 2008}}
During early 1999, the company announced that it was seeking to spin out its subsidiary Pandrol Rail Fastenings.{{cite web |url = https://www.railwaygazette.com/news/pandrol-to-be-sold/27590.article |title = Pandrol to be sold |publisher = Railway Gazette International |date = 1 April 1999}} Four years later, Pandrol was acquired by {{interlanguage link|Delachaux|fr|Delachaux_(entreprise)}} of France.{{Cite web |title=Pandrol merges Delachaux brands |url=https://www.railjournal.com/in_depth/pandrol-merges-delachaux-brands/ |access-date=27 April 2023 |publisher=International Railway Journal |language=en-GB}}{{cite web |url = https://www.railwaygazette.com/business/pandrol-unifies-branding/45472.article |title = Pandrol unifies branding |publisher = Railway Gazette International |date = 17 November 2017}}
In 2008, the business was restructured with the creation of a new Irish resident holding company, Charter International plc.{{cite web |url = http://www.slaughterandmay.com/news-and-recent-work/recent-work/recent-work-items/2008/charter---new-jersey-incorporated-irish-tax-resident-london-listed-holding-company.aspx |title = New Jersey incorporated Irish tax resident London listed holding company |publisher = Slaughter and May |archive-url=https://web.archive.org/web/20101129203026/http://www.slaughterandmay.com/news-and-recent-work/recent-work/recent-work-items/2008/charter---new-jersey-incorporated-irish-tax-resident-london-listed-holding-company.aspx |archive-date=29 November 2010 |date=8 August 2008}}
During January 2012, the company was acquired by the American technology business Colfax Corporation.{{cite web |url = http://www.prweb.com/releases/2012/1/prweb9097899.htm |archive-url = https://web.archive.org/web/20121006011300/http://www.prweb.com/releases/2012/1/prweb9097899.htm |url-status = dead |archive-date = October 6, 2012 |title = ESAB Acquired by Colfax Corporation |website = PRWeb |date = 13 January 2012}}
Operations
The company had two main businesses:
- ESAB: welding, cutting and automation
- Howden: air and gas handling
References
{{reflist}}
External links
- [https://web.archive.org/web/20100201100015/http://www.charter.ie/ Official site]
Category:Engineering companies of the United Kingdom
Category:Defunct companies based in London
Category:Non-renewable resource companies established in 1965
Category:1965 establishments in the United Kingdom
Category:British South Africa Company
Category:Technology companies disestablished in 2012