James Fisher & Sons

James Fisher and Sons plc
Public (LSE: FSJ)
Industry Marine services
Founded 1847
Headquarters Fisher House, Barrow-in-Furness, UK
Key people
 Charles Rice, (Chairman)
Nick Henry, (CEO)
Stuart Kilpatrick (Group Finance Director)
Revenue £444.8 million (2014)[1]
£51.5 million (2014)[1]
£40.5 million (2014)[1]
Website www.james-fisher.com www.james-fisher.co.uk

James Fisher and Sons plc (LSE: FSJ) is a British provider of marine engineering services. The Company is listed on the London Stock Exchange.

History

The Company was founded by James Fisher in 1847 in Barrow-in-Furness as a ship-owning business transporting haematite from the Cumbrian hills.[2] In 1868 it had 70 ships[3] and by the 1870s it owned the largest coasting fleet in the United Kingdom.[2] It acquired the Furness Shipbuilding Company in 1870 but only went on to build one ship, the Ellie Park.[3] During the 1880s it slowly moved from operating sailing ships to operating steamers.[4]

It was first listed on the London Stock Exchange in 1952.[5] From the 1960s the Company was managed by Directors with no family connection.[4] At that time it established a reputation for moving heavy equipment, including even locomotives, by sea.[4] By 1965 it had built its first ship suitable for transporting irradiated nuclear fuel.[5]

In the 1960s the company chartered up to a dozen of its ships to the Atlantic Steam Navigation Company to operate the latter's Preston based container services across the Irish Sea.[6]

In 1984 the company acquired short sea and offshore specialists Coe Metcalf Shipping, lifting the fleet to 42 vessels, and in 1996 it acquired P&O Tankships Ltd.[7]

The company's division James Fisher Defence formerly operated the submarine rescue service for the Royal Navy, and provided the Scorpio 45 submersible which saved the lives of seven Russian sailors in their AS-28 submarine in 2005.[8]

In 2005 James Fisher acquired Fendercare Marine Solutions Ltd for £12m[9] and in 2007 it acquired Buchan Technical Services for £5m[10] and FT Everard, a leading competitor in the UK coastal shipping market, for £35.0m.[11]

In 2013 James Fisher acquired Divex Ltd for an initial consideration of £20m in cash plus a further maximum additional consideration of £13m linked to future profitability targets.[12]

Operations

The Company operates from various locations throughout the world, with its corporate headquarters in Barrow in Furness, Cumbria and provides the following services:[13]

Sir John Fisher Foundation

The Sir John Fisher Foundation is a charitable trust established in 1980 by Sir John Fisher and his wife Lady Maria Fisher, in order to support good causes in the area surrounding the company’s headquarters in Barrow-in-Furness. The Foundation’s capital fund includes its shareholding in James Fisher and Sons plc. The dividends paid by the company enable its trustees to make grants to charitable causes, throughout the UK, but with special regard to those based in and working for the benefit of people living in and around Barrow-in-Furness and surrounding area.[14]

References

  1. 1 2 3 "Annual Report 2014" (PDF). james-fisher.com. Retrieved 28 March 2015.
  2. 1 2 "Heritage". james-fisher.co.uk. Retrieved 28 March 2015.
  3. 1 2 "Lindal & Marton History". lindal-in-furness.co.uk. Retrieved 28 March 2015.
  4. 1 2 3 Around the Coast and across the Seas: The Story of James Fisher and Sons Journal of Transport History, March 2001
  5. 1 2 With a fair wind blowing there are profits to be made on the high seas The Scotsman, 6 April 2003
  6. ↑ By Road Across the Sea, Miles Cowsill [1990] Ferry Publications
  7. ↑ "Marine Supply, Boats & Yachts, Hull & Machinery Insurance, Warehousing, Maritime Insurance, Brokers, Fishing & Aquaculture, Navigation, Ship Owners". best-maritime-employment.info. Retrieved 28 March 2015.
  8. ↑ International cooperation saves trapped submariners
  9. ↑ James Fisher acquires FenderCare
  10. ↑ "James Fisher buys Buchan Technical Services for GBP 4.9m". highbeam.com. Retrieved 28 March 2015.
  11. ↑ James Fisher buys Everard
  12. ↑ James Fisher and Sons plc Acquisition of Divex Limited
  13. ↑ James Fisher: capabilities
  14. ↑ "The Sir John Fisher Foundation". sirjohnfisherfoundation.org.uk. Retrieved 28 March 2015.

Further reading

External links

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