Spirax-Sarco Engineering
| 200px | |
| Public (LSE: SPX) | |
| Industry | Manufacturing |
| Founded | 1888 |
| Headquarters | Cheltenham, Gloucestershire, UK |
|
Key people
|
Bill Whiteley, Chairman Nick Anderson, CEO |
| Revenue | £678.3 million (2014)[1] |
| £153.0 million (2014)[1] | |
| £100.6 million (2014)[1] | |
| Website | www.spiraxsarcoengineering.com |
Spirax-Sarco Engineering plc (LSE: SPX) is a leading British-based manufacturer of steam management systems and peristaltic pumps and associated fluid path technologies. It is headquartered in Cheltenham and is a constituent of the FTSE 250 Index.
History
The Company was founded by Herman Sanders in 1888 and after a Mr Rehders joined the business, established as Sanders, Rehders & Co. ('Sarco') in London importing thermostatic steam traps from Germany.[2] It started to manufacture steam traps in United Kingdom under the Spirax brand name in 1932 and was first listed on the London Stock Exchange in 1959.[3] In 1960 a range of self-acting pressure controls are introduced for the first time: then in 1963 it bought Drayton Controls, a control valve and instrumentation business.[4]
In 1990 the Company diversified in pump manufacturing in 1990 when it bought Watson-Marlow.[5] It acquired the Jucker Industrial Division, an Italian controls business, in 1993,[6] Bredel Hose Pumps, a business manufacturing high-pressure hose pumps, in 1996[7] and M&M International, an Italian piston actuated and solenoid valve business in 2001.[8] In September 2005 it acquired Mitech Actuators & Controls and Proportional Control Technology, a pair of South African businesses making process controls.[9] Then later that year it bought EMCO Flow Systems, a metering business.[10]
The company acquired Intervalf, a Turkish operation, for £2.8m in 2009.[11] It completed a new facility in Shanghai, China in June 2010: the plant, designed as Spirax's regional headquarters, combines a factory, warehouse, and offices.[12]
In 2011 the Minister for UK Trade & Investment, Lord Green, opened the new Spirax Sarco facility in Saint Petersburg, Russia[13] and in May 2012 the Deputy Prime Minister, Nick Clegg visited Spirax Sarco’s manufacturing facility in Cheltenham, Gloucestershire.[14]
In May 2012 there was a shareholder revolt after Spirax-Sarco paid a former Executive Director compensation of £783,660; the company compounded the problem by failing to inform the markets of the shareholder revolt as required by the Listing Rules.[15] Then in November 2012 the company bought Termodinámica, a distributor based in Santiago de Chile.[16]
Operations
The company has two main operations:
- Spirax-Sarco: provides engineered solutions for the design, maintenance and provision of efficient industrial and commercial steam systems (from single products through to complete turnkey bespoke packages)[17]
- Watson-Marlow Fluid Technology Group: peristaltic pumps and associated fluid path technologies for the food, pharmaceutical, chemical and environmental industries[18]
Spirax-Sarco has operating units (operating companies, branches and associates) in 41 countries across the world.[1]
References
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