Cape plc

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Cape plc
Public limited company
Traded as LSECIU
Industry Energy services
Founded 1893
Headquarters West Drayton, Middlesex
Key people
Timothy Eggar (Chairman)
Joe Oatley (CEO)
Products Access, Insulation, Coatings, Passive Fire Protection, Refractory Linings, Environmental Services, Oil and Gas Storage Tanks and Heat Exchanger Replacement and Refurbishment
Revenue £697.1 million (2013)[1]
£41 million (2013)[1]
£23.5 million (2013)[1]
Number of employees
18,000 (2014)[2]
Website www.capeplc.com

Cape plc is a United Kingdom energy services company based in West Drayton, Middlesex.

History[edit]

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 £7.5 million to 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[edit]

Cape provides "non-mechanical" multi-disciplined integrated support services covering such disciplines as access, scaffolding, insulation, coatings, passive fire protection, refractory linings, environmental services, oil and gas storage tanks and heat exchanger replacement and refurbishment, project management and other essential services to major industrial clients in the energy sector.[13]

References[edit]

  1. ^ a b c "Preliminary Results 2013" (PDF). Cape plc. Retrieved 27 October 2014. 
  2. ^ Cape: About Cape
  3. ^ a b "Cape Asbestos Company" (PDF). London Borough of Barking and Dagenham. Retrieved 2011-09-17. [permanent dead link]
  4. ^ "Acre Mill". Retrieved 2011-09-17. 
  5. ^ "Some significant events in UK asbestos compensation 2004/5" (PDF). Retrieved 2011-09-17. 
  6. ^ a b "Charter Consolidated PLC" (PDF). Competition Commission. Archived from the original (PDF) on 2007-10-24. Retrieved 2011-09-17. 
  7. ^ "Cape to move to AIM". Cape plc. 10 April 2002. Retrieved 2011-09-17. 
  8. ^ "Case profile: Cape/Gencor lawsuits (re So. Africa)". Business and Human Rights Resource Centre. Retrieved 2011-09-24. 
  9. ^ "Asbestos Victims Groups Warn Cape on it's [sic] proposed Asbestos Fund". Hazards Magazine. 2006. Retrieved 2011-09-24. 
  10. ^ "Cape acquires DBI". 8 January 2007. Retrieved 2011-09-17. 
  11. ^ "Cape bids £95m for PCH Group after demand from shareholders". Yorkshire Post. 14 September 2007. Retrieved 2011-09-17. 
  12. ^ "LG advises Cape Plc on proposed new international holding company and move to the LSE market". LG. 12 May 2011. Archived from the original on 2011-11-03. Retrieved 2011-09-24. 
  13. ^ "Annual Report for the year ended 31 December 2010" (PDF). Cape plc. Retrieved 2011-09-17. 

External links[edit]