| |
Fate | Merged with Siebe |
---|---|
Successor | Invensys |
Founded | 1924 |
Defunct | 1999 |
Headquarters | London, UK |
Key people | Sir Owen Green, (Chairman) |
Industry | conglomerate |
BTR plc was a British industrial conglomerate, which merged with Siebe in 1999 to form BTR Siebe plc, later renamed Invensys. It was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index.
History[]
BTR started in 1924, when the B.F.Goodrich Company of the USA formed a UK subsidiary British Goodrich Rubber Co. Ltd. In 1934 Goodrich sold most of its shares in the company, which changed its name to the British Tyre & Rubber Co. Ltd.[1] In 1956 the company changed its name to BTR Limited, when it ceased production of tyres.[2]
The Company was dominated by Sir Owen Green from 1967 to 1993 first as Managing Director (until 1986) and then as Chairman.[3] By 1982 BTR had acquired a large number of companies in the United Kingdom, the USA, Canada, Australia, South Africa and Germany.[2] In 1985 BTR acquired Dunlop Holdings plc.[4] The Dunlop road tyre business was immediately sold to Sumitomo Rubber Industries.[5] In late 1985, BTR launched a hostile take-over bid for Pilkington, a leading manufacturer of high quality glass, with operations worldwide. After a successful defensive campaign by Pilkington, BTR was forced to withdraw its offer in early 1986.[6] (Pilkington was subsequently taken over by ? of Japan)
In 1992, Hawker Siddeley Group Plc was acquired by BTR plc for £1.5bn.[7]
BTR also had an industrial products operation in Australia known as Nylex which it secured complete control of in 1995.[8]
Between 1996 and 1998, BTR sold the remaining Dunlop companies.[9]
In 1999 BTR merged with Siebe to form BTR Siebe plc, which was renamed Invensys plc.[10]
Operations[]
The Company was latterly organised into the following businesses:[11]
- Engineering
- Packaging
- Materials
- Building products
- Polymers
See also[]
- Dunlop Rubber
- BTR Aerospace Group
- India Rubber, Gutta Percha and Telegraph Cable Company
- Thomas Tilling Group - subsidiary acquired in the 1980s after the bus transport part of the Tilling Group was nationalised.
References[]
- ↑ Competition Commission Report c. 1955 para 68
- ↑ 2.0 2.1 Competition Commission report 1982
- ↑ Corporate Governance and Control by Saleem Sheikh Page xiv
- ↑ Dunlop and BTR reach an accord
- ↑ Dunlop stake for Sumitomo
- ↑ BTR withdraws offer for Pilkington
- ↑ Brush Traction: History
- ↑ BTR to buy out unit for $3.2bn
- ↑ BTR sells South African tyre subsidiary
- ↑ Investors back BTR Siebe merger
- ↑ BTR to sell several divisions
External links[]
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