Cape plc
 | |
| Type | Public limited company |
|---|---|
| Traded as | LSE: CIU |
| Industry | Energy services |
| Founded | 1893 |
| Headquarters | Uxbridge, London |
| Key people |
Timothy Eggar (Chairman) Joe Oatley (CEO) |
| Products | Insullation products |
| Revenue | £722.5 million (2011)[1] |
| Operating income | £78.5 million (2011)[1] |
| Net income | £49.7 million (2011)[1] |
| Employees | 19,000 (2012)[2] |
| Website | www.capeplc.com |
Cape plc is a United Kingdom energy services company based in Uxbridge, West London.
History
The company was founded in 1893 as the Cape Asbestos Company with the objective of mining asbestos in the Orange Free State and importing it into European countries where it could be woven into fire-resistant materials.[3] By 1913 it had four factories in the London area including a facility in Barking[3] and in 1939 it opened a manufacturing facility at Acre Mill near Hebden Bridge to meet the demand for gas mask filters made from blue asbestos during the Second World War.[4] In 1976 it established a scaffolding division[5] and in the late 1970s it developed asbestos-free products such that by 1980 it had become the world's foremost supplier of asbestos free protection and insulation board.[6] Although it had a full listing during the 1980s it was at that time 67.3% owned by Charter Consolidated plc.[6]
It transferred from a full listing to the Alternative Investment Market in 2002 in a bid to cut costs[7] and it reached a settlement in 2003 to pay some £7.5 million to some 7,500 claimants from South Africa who had been seeking compensation over many years for asbestos related health problems.[8] In 2006 it established a £40 million fund for claimants based in the UK.[9]
In 2006 it bought DBI, an industrial cleaning specialist based in the UK,[10] and in 2007 it acquired PCH, a scaffolding and hoist company based in Australia.[11] In June 2011 it was transferred back to a full listing from the Alternative Investment Market and was restructured in such a way that it was ultimately Jersey-registered.[12]
Operations
Cape provides "non-mechanical" multi disciplined integrated support services covering such disciplines as access, scaffolding, insulation, fire protection, specialist cleaning, asbestos removal, refractory linings, project management and other essential services to major industrial clients in the energy sector.[13]
References
- ↑ 1.0 1.1 1.2 "Preliminary Results 2011". Cape plc. Retrieved 8 April 2012.
- ↑ Cape: About Cape
- ↑ 3.0 3.1 "Cape Asbestos Company". London Borough of Barking and Dagenham. Retrieved 2011-09-17.
- ↑ "Acre Mill". Retrieved 2011-09-17.
- ↑ "Some significant events in UK asbestos compensation 2004/5". Retrieved 2011-09-17.
- ↑ 6.0 6.1 "Charter Consolidated PLC". Competition Commission. Retrieved 2011-09-17.
- ↑ "Cape to move to AIM". Cape plc. 10 April 2002. Retrieved 2011-09-17.
- ↑ "Case profile: Cape/Gencor lawsuits (re So. Africa)". Business and Human Rights Resource Centre. Retrieved 2011-09-24.
- ↑ "Asbestos Victims Groups Warn Cape on it’s proposed Asbestos Fund". Hazards Magazine. 2006. Retrieved 2011-09-24.
- ↑ "Cape acquires DBI". 8 January 2007. Retrieved 2011-09-17.
- ↑ "Cape bids £95m for PCH Group after demand from shareholders". Yorkshire Post. 14 September 2007. Retrieved 2011-09-17.
- ↑ "LG advises Cape Plc on proposed new international holding company and move to the LSE market". LG. 12 May 2011. Retrieved 2011-09-24.
- ↑ "Annual Report for the year ended 31 December 2010". Cape plc. Retrieved 2011-09-17.