Vesuvius plc

File:165FleetStreet.jpg, City of London]]

The company was founded by Isaac Cookson in 1704 as a collection of metal and glass businesses on Tyneside.{{cite ODNB|url=http://www.oxforddnb.com/view/article/47488/49068?docPos=1 |title=Isaac Cookson |date=2004 |doi=10.1093/ref:odnb/49068 |access-date=30 March 2018}} During 1851, the company diversified into lead manufacturing. In 1924, it merged with Lock Lancaster and W.W. & R. Johnson & Sons to form Associated Lead Manufacturers. During 1930, the firm was first listed on the London Stock Exchange.{{cite web |url = http://www.cooksongroup.co.uk/cookson/pages/about/history |title = Cookson Group History |website = cooksongroup.co.uk |archive-url=https://web.archive.org/web/20081201070354/http://www.cooksongroup.co.uk/cookson/pages/about/history |archive-date=1 December 2008 }} In 1966, Associated Lead Manufacturers was renamed Lead Industries Group. During 1977, it re-acquired the one-time largest antimony smelter in the world, based in Laredo, Texas.{{cite web |url = https://www.tshaonline.org/handbook/entries/antimony-smelter |title = Antimony Smelter |first1 = John H. |last1 = McNeely |first2 = Diana J. |last2 = Kleiner |publisher = Texas State Historical Society |date = 1 November 1994}} Two years later, the company acquired the A.J. Oster Company, a non-ferrous metal producer.{{cite web |url=http://next-generation-communications.tmcnet.com/news/2008/12/03/3831535.htm |title=Richard M. Oster, chairman of Cookson Group, dies |publisher=Next Generation Communications |date=3 December 2008 |access-date=30 March 2018}}

During 1982, Lead Industries Group was rebranded to Cookson Group to reflect the name of the company's founder; five years later, the firm bought the Vesuvius Crucible Company, a ceramics supplier. Between 1991 and 1998, Sir Robert Malpas was chairman of the company.'MALPAS, Sir Robert', in Who's Who 2012 (London, UK: A. & C. Black, 2012) In 1994, Cookson Group sold part of its engineering product operations for £84.5 million via a management buyout.{{cite web |url = https://www.independent.co.uk/news/business/cookson-in-pounds-84m-sale-to-buyin-team-jim-cooper-leads-consortium-acquiring-engineering-product-operations-1429278.html |title = Cookson in pounds 84m sale to buy-in team: Jim Cooper leads consortium acquiring engineering product operations |work = The Independent |first = John |last = Shepherd |date = 15 March 1994 }} During the mid-1990s, following regulatory approval, it opted to merge its consumable refractory products with those of the German firm Thyssen AG to create two new European-based joint ventures.{{cite web |url = https://ec.europa.eu/competition/mergers/cases/decisions/m472_en.pdf |title = Case No IV/M.472: Vesuvius / Wülfrath |publisher = COMMISSION OF THE EUROPEAN COMMUNITIES |date = 5 September 1994}}

During December 1999, Cookson Group made its biggest acquisition so far in its purchase of the specialty chemicals manufacturer Enthone-OMI in exchange for £310 million in cash; the transaction strengthened the company's product line for the manufacturers of printed circuit boards.{{cite web |url = https://www.independent.co.uk/news/business/news/cookson-buys-chemicals-firm-for-503m-740814.html |title = Cookson buys chemicals firm for $503m |work = The Independent |first = Saheed |last = Shah |date = 14 December 1999}}{{cite web |url = https://www.heraldscotland.com/news/12212342.cookson-makesrecord-purchase/ |title = Cookson makesrecord purchase |date = 14 December 199 |publisher = Herald and Times}} That same year, the company acquired the Premier Refractories division of Alpine Group for £252 million.{{cite web |url = https://www.independent.co.uk/news/business/cookson-unveils-pounds-252m-us-purchase-1093312.html |title = Cookson unveils pounds 252m US purchase |work = The Independent |first = Chris |last = Hughes |date = 12 May 1999}}{{cite web |url = https://www3.epa.gov/ttnecas1/docs/eia_ip/refractories-mfg_eia_neshap_final_02-2003.pdf |title = Economic Impact Analysis of the Refractory Product Manufacturing NESHAP - Final Rule |publisher = Environmental Protection Agency |date = February 2003}} Furthermore, around this period, the company was conducting a series of divestments and reducing its debt levels while reorienting towards three core markets: electronics ceramics and precious metals.{{cite web |url = https://www.investegate.co.uk/announcement/rns/vesuvius--vsvs/interim-results-part-2-/209688 |title = Interim Results - Part 2 |website = investegate.co.uk |date = 27 July 2000}}

The early 2000s was a time of financial hardship for the firm, in part due to falling demand but also but also as a result of its debt burden; after it recording a loss of £44.5 million, the dividend was suspended and a heavily discounted rights issue of £277.5 million was enacted in mid 2002.{{cite web |url = https://www.independent.co.uk/news/business/news/cookson-slumps-on-acirc-pound-277m-rights-issue-648863.html |title = Cookson slumps on £277m rights issue |work = The Independent |first = Nigel |last = Cope |date = 20 July 2002 }} Some reports speculated that the company was facing collapse during this time.{{cite web |url = https://www.independent.co.uk/news/business/news/safe-pair-of-hands-salmon-takes-helm-at-cookson-732392.html |title = Safe pair of hands' Salmon takes helm at Cookson |work = The Independent |first = Stephen |last = Foley |date = 16 June 2004}}

During 2005, Cookson Group announced that it would be focusing on high technology products and emerging markets. Two years later, Cookson Electronics announced the relocation of its Indian R&D efforts to a new research center based in Bangalore.{{cite web |url = https://www.afaqs.com/company-briefs/21227_cookson-electronics-announces-the-relocation-and-grand-opening-of-the-cookson-electronics-india-research-centre-in-bangalore |title = Cookson Electronics Announces the Relocation and Grand Opening of the Cookson Electronics India Research Centre in Bangalore |publisher = afaqs! news bureau |date = 23 October 2007}} In early 2008, it acquire Foseco, a supplier to the foundry and steel industries, in exchange for $1 billion following the settlement of anti-trust concerns.{{cite web |url = https://www.justice.gov/archive/opa/pr/2008/March/08_at_165.html |title = Justice Department Requires a Divestiture in Cookson's Acquisition of Foseco |publisher = Department of Justice |date = 4 March 2008}}{{cite web |url=http://uk.reuters.com/article/businessNews/idUKWLB316620071011 |archive-url=https://archive.today/20120716123151/http://uk.reuters.com/article/businessNews/idUKWLB316620071011 |url-status=dead |archive-date=16 July 2012 |title=Cookson to buy Foseco |work=Reuters UK |access-date=3 April 2015}}{{cite web |url = https://www.mlex.com/mlex/articles/2085943/company-statement-cookson-foseco-acquisition-eu-anti-trust-clearance-obtained |title = Company Statement: Cookson - Foseco acquisition - EU anti-trust clearance obtained |website = mlex.com |date = 4 March 2008}} One year later, amid the Great Recession, the company implemented job cuts that totaled seven percent of its global workforce.{{cite web |url = https://www.independent.co.uk/news/business/news/engineering-group-cookson-to-cut-180-jobs-1519288.html |title = Engineering group Cookson to cut 180 jobs |work = The Independent |first = Holly |last = Williams |date = 29 January 2009}}{{cite web |url = https://www.independent.co.uk/news/business/sharewatch/investment-column-cookson-cannot-escape-its-market-woes-1641135.html |title = Investment Column: Cookson cannot escape its market woes |work = The Independent |first = Alistair |last = Dawber |date = 10 March 2009}}

In December 2012, Cookson Group changed its name to Vesuvius, the former performance materials division was demerged to form a new company called Alent and the name Cookson ceased to be used.{{cite web |url=http://uk.advfn.com/news/UKREG/2012/article/55482957 |title=Vesuvius |work=ADVFN |access-date=3 April 2015}}{{cite web |url=http://www.ceramrefractories.co.uk/index.php/78-news/94-cookson-becomes-vesuvius |title=Cookson becomes Vesuvius |work=ceramrefractories.co.uk |access-date=3 April 2015 |url-status=dead |archive-url=https://web.archive.org/web/20150408135413/http://www.ceramrefractories.co.uk/index.php/78-news/94-cookson-becomes-vesuvius |archive-date=8 April 2015}} During August 2015, it acquired the Italian specialist firm Sidermes Group.{{cite web |url = https://castingssa.com/vesuvius-plc-acquires-sidermes-group/ |title = Vesuvius PLC acquires Sidermes Group |website = castingssa.com |date = 13 August 2015}} In 2018, while amid a restructuring programme aimed at saving £22 million per year, the firm reported record profits of £99.6 million over a six month period.{{cite web |url = https://www.proactiveinvestors.co.uk/companies/news/201635/vesuvius-erupts-as-it-ups-guidance-after-record-first-half-201635.html |title = Vesuvius erupts as it ups guidance after record first half |website = proactiveinvestors.co.uk |date = 26 July 2018 }}

During March 2022, in response to the Russian invasion of Ukraine, Vesuvius opted to cease all deliveries to Russian customers for the duration of the conflict.{{cite web |url = https://www.proactiveinvestors.co.uk/companies/news/975704/vesuvius-s-exposure-to-russia-and-ukraine-outweighs-doubling-of-2021-pretax-profit-975704.html |title = Vesuvius's exposure to Russia and Ukraine outweighs doubling of 2021 pretax profit |website = proactiveinvestors.co.uk |date = 3 March 2022}} In February 2023, the firm was the victim of a cyberattack that compelled the shut down of multiple affected systems.{{cite web |url = https://therecord.media/vesuvius-plc-cyber-incident-steel-industry-supplier |title = British steel industry supplier Vesuvius 'currently managing cyber incident' |website = therecord.media |first = Alexander |last = Martin |date = 6 February 2023}} In response to an international economic downturn during the early 2020s, it opted to invest in its existing facilities as well as several research and development programmes.{{cite web |url = https://www.thearmchairtrader.com/vesuvius-shares-slowdown-invest-recovery/ |title = Vesuvius using the slowdown to invest for the recovery |website = thearmchairtrader.com |first = John |last = Foster |date = 6 October 2023}}

The company's operations are formed into four activities: Steel Flow Control, Foundry Technologies, Advanced Refractories and Precious Metals Processing.{{cite web |url=http://www.vesuvius.com/en/about-us/ |title=Vesuvius – about us |work=vesuvius.com |access-date=3 April 2015 |url-status=dead |archive-url=https://web.archive.org/web/20150407084412/http://www.vesuvius.com/en/about-us/ |archive-date=7 April 2015}}

{{reflist|30em}}

• [http://www.vesuvius.com Official site]
• [https://web.archive.org/web/20051228092411/http://uk.finance.yahoo.com/q/pr?s=CKSN.L Yahoo profile]

{{FTSE 250 Index constituents}}

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Category:Engineering companies of the United Kingdom

Category:Manufacturing companies based in London

Category:Companies listed on the London Stock Exchange

Category:Companies established in the 18th century

Category:Companies established in 1704

Category:1704 establishments in England

Category:Manufacturing companies established in 1704

Category:Companies in the FTSE 250 Index