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Charter International

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Charter International plc
Company typePublic (LSECHTR)
IndustryEngineering
Founded1965
HeadquartersLondon, 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]
ParentColfax Corporation
Websitewww.charter.ie

Charter International plc was a large British engineering business based in London. It was acquired by Colfax Corporation in January 2012.

History

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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] Slightly over one-third of the shares of the newly-created company were owned by Anglo American Corporation.[2] 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.[2]

Throughout the 1980s, Charter Consolidated gradually disposed of its overseas mining concerns, opting to instead concentrate on its British engineering interests.[2] During 1993, the company's name changed to Charter plc.[2]

In 1994, it acquired ESAB;[3] three years later, the company also acquired Howden.[4]

During early 1999, the company announced that it was seeking to spin out its subsidiary Pandrol Rail Fastenings.[5] Four years later, Pandrol was acquired by Delachaux [fr] of France.[6][7]

In 2008, the business was restructured with the creation of a new Irish resident holding company, Charter International plc.[8]

During January 2012, the company was acquired by the American technology business Colfax Corporation.[9]

Operations

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The company had two main businesses:

  • ESAB: welding, cutting and automation
  • Howden: air and gas handling

References

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  1. ^ a b c d "Annual Report 2010" (PDF). Charter International. Archived from the original (PDF) on 21 July 2011.
  2. ^ a b c d e f "History". Charter International. Archived from the original on 12 December 2008.
  3. ^ "No deals please: we are Swedish". findarticles.com.
  4. ^ "Guide to interim management". bieinterim.com. Archived from the original on 10 May 2008.
  5. ^ "Pandrol to be sold". Railway Gazette International. 1 April 1999.
  6. ^ "Pandrol merges Delachaux brands". International Railway Journal. Retrieved 27 April 2023.
  7. ^ "Pandrol unifies branding". Railway Gazette International. 17 November 2017.
  8. ^ "New Jersey incorporated Irish tax resident London listed holding company". Slaughter and May. 8 August 2008. Archived from the original on 29 November 2010.
  9. ^ "ESAB Acquired by Colfax Corporation". PRWeb. 13 January 2012. Archived from the original on October 6, 2012.
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