Synthomer
 | |
| Public (LSE: SYNT) | |
| Industry | Chemicals |
| Founded | 1863 |
| Headquarters | Harlow, Essex, England |
Key people |
Peter Wood (Chairman) Calum McClean (CEO) |
| Revenue | £870.1 million (2015)[1] |
| £102.9 million (2015)[1] | |
| £63.1 million (2015)[1] | |
| Website | www.synthomer.com |
Synthomer plc (LSE: SYNT), formerly known as Yule Catto & Co, is a British-based chemicals business. It is a constituent of the FTSE 250 Index.
History
The company traces its roots back to 1863, when Andrew Yule founded a trading house known as Andrew Yule & Co. in Calcutta.[2] At the same time Andrew's brother, George Yule, set up George Yule & Co. in London, which acted as British agency arm of Andrew Yule & Co.[3]
When in 1919 Andrew Yule & Co. and George Yule & Co. were sold to the US banking group J.P. Morgan & Co. and its British merchant banking affiliate Morgan Grenfell & Co., both were turned from a partnership into a private limited company.[4] That same year Thomas Catto (1879–1959) was sent to India to take over the management of the firm from Sir David Yule (1858–1928), a nephew of Andrew Yule.[5] David Yule continued to hold the title of Chairman but had no active part in the operations of the business.[5]
In 1920 Thomas Catto and David Yule changed the name of the British purchasing arm of Andrew Yule & Co., George Yule and Company, to Yule, Catto & Company Ltd.[6] Due to increased taxation, the devaluation of the Indian rupee and the abolition of the managing agency system, Yule, Catto & Co decided in 1969 to sell its shareholding in Andrew Yule & Co. to the Indian government.[7]
With the acquisition of Revertex Chemicals in 1980,[6] Thomas Catto's son, Stephen (1923–2001) started to turn Yule Catto & Co. into an international speciality chemicals and building products manufacturer.[8] Since 2007 the group has been transformed from a diversified chemical business to a focussed speciality polymer business. In 2012 the company changed its name to Synthomer on the basis that the majority of its business already traded under that name.[9]
Operations
The company has three activities: polymer chemicals, pharma chemicals and impact chemicals.[2]
References
- 1 2 3 "Annual Report 2015" (PDF). Synthomer. Retrieved 15 April 2016.
- 1 2 "Yule Catto - Company Structure Information from ICIS". icis.com. Retrieved 3 April 2015.
- ↑ Yule, Catto & Co AIM 25
- ↑ Jones, p.96
- 1 2 Jones, p.325
- ↑ Jones, p. 297
- ↑ Obituary: Lord Catto Daily Telegraph, 6 September 2001
- ↑ Interim Management Statement of Yule Catto & Co Plc for the period 1 July to 8 November 2012
Sources
- Jones, Geoffrey (2007). Merchants to Multinationals. Oxford University Press. ISBN 978-0-19-829450-4.
