Charter International
British engineering firm
From Wikipedia, the free encyclopedia
Charter International plc was a large British engineering business based in London. It was acquired by Colfax Corporation in January 2012.
| |
| Type | Public (LSE: CHTR) |
|---|---|
| Industry | Engineering |
| Founded | 1965 |
| Headquarters | London, UK |
Key people | Lars Emilson, Chairman Michael Foster, CEO |
| Revenue | £1,719.6 million (2010)[1] |
| £145.9 million (2010)[1] | |
| £118.9 million (2010)[1] | |
Number of employees | 12,313 (2010)[1] |
| Parent | Colfax Corporation |
| Website | www.charter.ie |
History
Charter International's origins can be traced back to the British South Africa Company, which was founded in 1889 by Royal Charter.[2] 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.[2]
Throughout the 1980s, Charter Consolidated gradually disposed of its overseas mining concerns, opting to instead concentrate on its British engineering interests.[2] It also acquired 80% of Morrison Construction, although the Morrison family repurchased the shares in 1989.[3]
During 1993, the company's name changed to Charter plc.[2]
In 1994, it acquired ESAB;[4] three years later, the company also acquired Howden.[5]
During early 1999, the company announced that it was seeking to spin out its subsidiary Pandrol Rail Fastenings.[6] Four years later, Pandrol was acquired by Delachaux of France.[7][8]
In 2008, the business was restructured with the creation of a new Irish resident holding company, Charter International plc.[9]
During January 2012, the company was acquired by the American technology business Colfax Corporation.[10]
Operations
The company had two main businesses:
- ESAB: welding, cutting and automation
- Howden: air and gas handling