|Type||Public (LSE: SPX)|
|Headquarters||Cheltenham, Gloucestershire, UK|
|Key people||Bill Whiteley, Chairman
Mark Vernon, CEO
|Revenue||£661.7 million (2012)|
|Operating income||£136.2 million (2012)|
|Net income||£92.2 million (2012)|
Spirax-Sarco Engineering (LSE: SPX) is a leading British-based manufacturer of boiler and pipeline control valves for steam heating and process plants. It is headquartered in Cheltenham and is a constituent of the FTSE 250 Index.
The Company was founded in 1888 as Sanders, Rehders & Co. ('Sarco') in London importing thermostatic steam traps from Germany. It started to manufacture steam traps in United Kingdom under the Spirax brand name in 1932 and was first listed on the London Stock Exchange in 1959. In 1960 a range of self-acting pressure controls are introduced for the first time. Then in 1963 it bought Drayton Controls, a control valve and instrumentation business.
In 1990 the Company diversified in pump manufacturing in 1990 when it bought Watson-Marlow. It acquired the Jucker Industrial Division, an Italian controls business, in 1993 and M&M International, an Italian piston actuated and solenoid valve business in 2001. In September 2005 it acquired Mitech Actuators & Controls and Proportional Control Technology, a pair of South African businesses making process controls. Then later that year it bought EMCO Flow Systems, a metering business.
The company acquired Intervalf for £2.8m in 2009. It completed a new facility in Shanghai, China in June 2010: the plant, designed as Spirax's regional headquarters, combines a factory, warehouse, and offices.
In 2011 the Minister for UK Trade & Investment, Lord Green, opened the new Spirax Sarco facility in St Petersburg, Russia and in May 2012 the Deputy Prime Minister, Nick Clegg visited Spirax Sarco’s manufacturing facility in Cheltenham, Gloucestershire.
The company has two main operations:
- Spirax-Sarco: Engineered Steam Solutions, steam traps, Heat Transfer Solutions, Condensate pumps and Recovery, Flowmetering, control valves
- Watson-Marlow Bredel: peristaltic pumps, tube and hose pumps, sine pumps, liquid filling and OEM pumps
- Preliminary Results 2012
- Top 100 Gloucestershire Companies Westbusiness, July / August 2008
- London Stock Exchange: Spirax-Sarco listing history
- Spirax-Sarco: History
- Pumps India: History of Pumps
- Spirax-Sarco acquires Jucker SpA Industrial Division from Jucker SpA Reuters, 3 March 1993
- Industrial News Supply House Times, 10 January 2002
- Local supplier prepares for big move Mining Weekly, 11 August 2006
- Spirax-Sarco acquires EMCO Flow Systems Plant Engineering, August 2005
- Spirax Sarco Acquires Longstanding Turkish Distribution Partner for £2.8m
- How to Build a Factory and Distribution Centre in China
- UK Minister for Trade and Investment to attend St Petersburg International Economic Forum
- Deputy Prime Minister praises Spirax Sarco’s investment in UK manufacturing