Elementis

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Elementis plc
Public (LSEELM)
Industry Chemicals
Founded 1844
Headquarters London, UK
Key people
Andrew Duff, Chairman
Paul Waterman Group Chief Executive
Revenue $678.8 million (2015)[1]
$122.5 million (2015)[1]
$95.3 million (2015)[1]
Website www.elementis.com

Elementis plc is one of the UK's largest speciality chemicals and personal care businesses. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

History[edit]

The company was founded in Liverpool in 1844 as Harrisons and Crosfield by Daniel Harrison, Smith Harrison and Joseph Crosfield to trade in tea and coffee.[2] In the 1860s it became one of the largest tea traders in the UK.[2] In 1903 it diversified into operating rubber plantations in the far east acquiring shareholdings in a number of plantation companies.[3] Then in 1948 the company became a major producer of latex at its factory in Petaling.[3]

In 1967 it acquired Durham Chemicals in Birtley[4] and in 1973 acquired British Chrome & Chemicals in Eaglescliffe so diversifying into the chemicals business.[5] It also acquired a stake in the Sabah Timber Company[6] and then in 1978 took complete control of it.[3] By the end of the 1970s Harrisons and Crosfield was the 91st largest industrial company in the UK by turnover.[7]

In 1982 it sold its Malaysian plantations and in 1994 it sold its Indonesian plantations: these business have since been absorbed into Sime Darby[8] and London Sumatra respectively.[9]

In 1998 it changed its name to Elementis plc[2] and acquired Rheox, a speciality chemicals business[10] and in 2002 it acquired Oxychem's chromium chemicals business.[11]

Operations[edit]

The business has four divisions:

Current Operations and Acquisitions[edit]

On 8 February 2016 Paul Waterman took up the role of Group CEO and President of Elementis Plc. Within a year of his tenure, in a bid to grow the companys personal care and cosmetics business, Waterman acquired SummitReheis, an antiperspirant ingredient supplier for US$360 million.[12] SummitReheis manufactures and distributes antiperspirant chemicals for deodorants and dental products, a $13Bn industry [13]

"“Chief executive officer Paul Waterman said: The group is well positioned to capitalise on this acquisition through the enhanced geographic footprint and strong customer relationships that it brings. Together with our existing business, the acquisition of SummitReheis is transformative for our personal care business, creating a substantial, high return platform that will help accelerate our Growth strategy.”

[14]

The deal was received positively by both the capital markets "Market Cheers US Acquisition By Elementis" [15] [16] and was reported by the cosmetics industry.[17]

See also[edit]

References[edit]

  1. ^ a b c "Preliminary Results 2015" (PDF). Elementis. Retrieved 3 April 2016. 
  2. ^ a b c "AIM25 collection description". aim25.ac.uk. Retrieved 28 March 2015. 
  3. ^ a b c Harrisons and Crosfield Timeline
  4. ^ "AIM25 collection description". aim25.ac.uk. Retrieved 28 March 2015. 
  5. ^ "AIM25 collection description". aim25.ac.uk. Retrieved 28 March 2015. 
  6. ^ The Sabah Timber Company The Straits Times, 2 April 1964
  7. ^ Geoffrey Jones (2000). Merchants to Multinationals: British Trading Companies in the Nineteenth and Twentieth Centuries. Oxford University Press. p. 156. ISBN 978-0-19-829450-4. 
  8. ^ Finishing with only hope The Edge Malaysia, 22 October 2007
  9. ^ Lonsum builds North Sumatra's first botanical garden Indonesia Economic Reports, 29 August 2006
  10. ^ "Elementis Specialties - History". elementis.com. Retrieved 28 March 2015. 
  11. ^ Elementis completes Chromium acquisition Adhesives & Sealants Industry, 1 March 2003
  12. ^ a b "Elementis announces Personal Care acquisition". The London Stock Exchange. February 2017. 
  13. ^ "Market report: M&A dominates the news". Shares Magazine. February 2017. 
  14. ^ "Elementis to buy specialty chemicals platform SummitReheis". Digital Look Web Financial Group. February 2017. 
  15. ^ "Market report: Market Cheers US Acquisition By Elementis". LONDON MARKET OPEN. February 2017. 
  16. ^ "Market report: Dental deal puts smile on Elementis' face as chemical firm reveals plan to expand its personal care business". This is money. February 2017. 
  17. ^ "Market report: Elementis to grow personal care business with acquisition of SummitReheis for US$360 million". Global Cosmetics News. February 2017. 

External links[edit]