Mattr
Canadian materials technology company
From Wikipedia, the free encyclopedia
Mattr Corp., formerly known as Shawcor Ltd., is a Canadian materials technology company, based in Toronto, Ontario, and listed on the Toronto Stock Exchange.[1] [2] In 2017, it had a revenue of $1.56 billion.[3] It was founded by Francis Shaw, the father of the founder of Shaw Communications, and there was substantial ownership in both companies by the Shaw family for many years.[4]
| |
| Formerly | Shawcor Ltd. |
|---|---|
| Type | Public |
| TSX: MATR | |
| Industry | Oil & Gas Equipment Services |
| Headquarters | Toronto, Ontario, Canada Houston, Texas, United States |
Area served | Worldwide |
Key people | Kevin Nugent (Chairman) Mike Reeves (CEO) Tom Holloway (CFO) |
| Products | Spoolable Composite Pipes, Underground Storage Tanks, Wire and Cable, Heat Shrinkable Tubes |
Number of employees | 6,000 – November 2017 |
| Website | www |
History
Shawcor was founded by Francis Shaw in rural Lambton County.[5] It was originally a construction company, but later expanded into pipeline coatings, cable television, and numerous other businesses. In the 1970s, the business was split between Francis's sons Leslie and JR Shaw; Leslie inherited the pipeline services business, which became the current Shawcor, while JR Shaw inherited the western cable business, which became Shaw Communications.[5] Under Leslie's leadership, the company grew significantly; by 2002, it had a market capitalization of $1 billion, and 43 plants in 20 countries.[4] Around that time, Leslie ceded his leadership of the business to his daughter, Virginia Shaw.[6]
In 2012, Shawcor suggested that it might consider putting itself up for sale.[2] At the time, the company had a market capitalization of about $3 billion. The company eventually decided not to sell, causing to share price to fall 15%.[7] In 2013, it eliminated its dual class share structure, under which the Shaw family controlled the majority of voting shares.[8]
Operations
Shawcor operates through 2 Segments: Composite Technologies (Flexpipe and Xerxes) and Connection Technologies (AmerCable, DSG Canusa and Shawflex).[9] It has about 100 manufacturing and service facilities and sales offices and 6000 employees in 25 countries.[9]
The previous pipe coating solutions division - which was the largest division in the company until its sale to Tenaris at the end of 2023 - was formerly part of Halliburton. At that time, it was named Bredero Price. Shawcor acquired the portion of the division it did not already own for $200 million in 2002.[10]