Hanson plc
Encyclopedia
Hanson plc is a British
based international building materials company, headquartered in Maidenhead
. Traded on the London Stock Exchange
and a constituent of the FTSE 100 Index
for many years, the company was acquired by a division of German
rival Heidelberg Cement in August 2007.
, and Gordon White, later Baron White of Hull
, who set up Hanson Trust in 1964.
Their policy was to purchase underperforming assets and turn them around. Hanson and White were willing to make any measures necessary to reform a business, including mass redundancies, and therefore attracted some opposition and accusations that they were "asset strippers", but they also delivered value for their shareholders and swept away the complacency that had bedevilled British
and American
management for far too long.
One of the most notable takeovers, at least to the general public, was the acquisition in 1983 of the United Drapery Stores
, or UDS, group, which owned many of Britain's most well-known high street clothes shops and department stores, including John Collier
, Richard Shops
and the chain of Allders
department stores. To fund this purchase Hanson broke up UDS and sold John Collier to a management buy-out team, and Richard Shops to Habitat
, keeping only the core department store business.
In 1986 Hanson bought SCM
, an American
chemicals to typewriters business. This included the paper division that was formerly the Allied Paper Corporation
. Hanson sold most of the SCM business units and the headquarters building in New York City for a significant profit.
Its most significant single purchase, however, was probably its takeover of Imperial Tobacco Group
in 1986. Hanson paid £2.5 billion for the group then undertook a major reorganisation; divestitures netted £2.3 billion, leaving Hanson with the hugely profitable tobacco business for "next to nothing."
In 1988 Hanson went on to buy Consolidated Gold Fields for £3.5bn.
An attempt in 1991 to purchase Imperial Chemical Industries
, once seen by many in Britain as the nation's leading company but then in decline, was highly controversial and ended in failure.
By the mid 1990s conglomerate
s were no longer popular with the investment community. Some of the manufacturing businesses were spun off as U.S. Industries in 1995.
In 1996 Hanson ended its time as a diversified conglomerate by breaking itself up into four separate listed companies: Hanson plc, Imperial Tobacco
, The Energy Group
and Millennium Chemicals
.
Lord Hanson stepped down as chairman in December 1997. After Lord Hanson's departure the Company focussed on building materials. In 1999 the Company acquired Pioneer International, an Australia
n building materials business.
In May 2007, Heidelberg Cement announced its intent to purchase Hanson PLC for £
11 per share, a deal worth approximately £8 billion
. This deal made the combined company the second largest cement and building materials company in the world. The transaction was completed through Heidelberg subsidiary Lehigh UK on 22 August 2007.
, and it is also active in many other countries. It is the world's leading producer of aggregates (particles of rock, gravel and sand), and a major producer of bricks and concrete pipes.
http://hanson-share-history.yolasite.com
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
based international building materials company, headquartered in Maidenhead
Maidenhead
Maidenhead is a town and unparished area within the Royal Borough of Windsor and Maidenhead, in Berkshire, England. It lies on the River Thames and is situated west of Charing Cross in London.-History:...
. Traded on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
and a constituent of the FTSE 100 Index
FTSE 100 Index
The FTSE 100 Index, also called FTSE 100, FTSE, or, informally, the footsie , is a share index of the 100 most highly capitalised UK companies listed on the London Stock Exchange....
for many years, the company was acquired by a division of German
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
rival Heidelberg Cement in August 2007.
History
Hanson was built up by James Hanson, later Lord HansonJames Hanson, Baron Hanson
James Edward, Baron Hanson was an English Conservative industrialist who built his businesses through the process of leveraged buyouts through Hanson plc.-Career:...
, and Gordon White, later Baron White of Hull
Gordon White, Baron White of Hull
Gordon Lindsay White, Baron White of Hull, KBE died in Los Angeles aged 72. He left most of his £70m fortune to his son Lucas...
, who set up Hanson Trust in 1964.
Their policy was to purchase underperforming assets and turn them around. Hanson and White were willing to make any measures necessary to reform a business, including mass redundancies, and therefore attracted some opposition and accusations that they were "asset strippers", but they also delivered value for their shareholders and swept away the complacency that had bedevilled British
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
and American
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
management for far too long.
One of the most notable takeovers, at least to the general public, was the acquisition in 1983 of the United Drapery Stores
United Drapery Stores
United Drapery Stores, or UDS, was a British retail group that dominated the British high street from the 1950s to the 1980s.-Early history:The group was founded in 1927 and from the outset sought to grow through the takeover of other companies. The company started with five department stores in...
, or UDS, group, which owned many of Britain's most well-known high street clothes shops and department stores, including John Collier
John Collier (retailer)
John Collier is a former British chain of shops selling men's clothes.Founded in Leeds in 1907 by Henry Price, the chain expanded to over 399 stores across the country, most of which traded under the Fifty Shilling Tailor brand....
, Richard Shops
Richard Shops
-History:Richard Shops was originally part of the clothes-selling empire United Drapery Stores, created in 1927 by the controversial Leeds-born businessman and philanthropist Jack Lyons...
and the chain of Allders
Allders
Allders is an independent department store in Croydon, established by Joshua Allder in 1862. It is the fourth-largest department store in the United Kingdom.The Croydon store was the flagship of a large chain of department stores in the UK...
department stores. To fund this purchase Hanson broke up UDS and sold John Collier to a management buy-out team, and Richard Shops to Habitat
Habitat (retailer)
Habitat Retail Ltd. is a retailer of household furnishings in the United Kingdom, France, Germany, Spain, and has franchised outlets in other countries. Founded in 1964 by Terence Conran, it was sold by the IKANO Group, owned by the Kamprad family, in December 2009 to Hilco, a restructuring...
, keeping only the core department store business.
In 1986 Hanson bought SCM
Smith Corona
Smith Corona or the SCM Corporation is a US typewriter and calculator company. Once a large U.S. manufacturer, the company experienced sales declines in typewriters in the mid-1980s due to the introduction of PC-based word processing...
, an American
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
chemicals to typewriters business. This included the paper division that was formerly the Allied Paper Corporation
Allied Paper Corporation
-Allied Paper Mills:Allied Paper Mills was incorporated in Kalamazoo, Michigan, USA during 1921 when three local paper companies merged. These were the Monarch Paper Company in Kalamazoo, the King Paper Company in Kalamazoo and the Bardeen Paper Company in Otsego...
. Hanson sold most of the SCM business units and the headquarters building in New York City for a significant profit.
Its most significant single purchase, however, was probably its takeover of Imperial Tobacco Group
Imperial Tobacco
Imperial Tobacco is a global tobacco company headquartered in Bristol, United Kingdom. It is the world’s fourth-largest cigarette company measured by market share , and the world's largest producer of cigars, fine-cut tobacco and tobacco papers...
in 1986. Hanson paid £2.5 billion for the group then undertook a major reorganisation; divestitures netted £2.3 billion, leaving Hanson with the hugely profitable tobacco business for "next to nothing."
In 1988 Hanson went on to buy Consolidated Gold Fields for £3.5bn.
An attempt in 1991 to purchase Imperial Chemical Industries
Imperial Chemical Industries
Imperial Chemical Industries was a British chemical company, taken over by AkzoNobel, a Dutch conglomerate, one of the largest chemical producers in the world. In its heyday, ICI was the largest manufacturing company in the British Empire, and commonly regarded as a "bellwether of the British...
, once seen by many in Britain as the nation's leading company but then in decline, was highly controversial and ended in failure.
By the mid 1990s conglomerate
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
s were no longer popular with the investment community. Some of the manufacturing businesses were spun off as U.S. Industries in 1995.
In 1996 Hanson ended its time as a diversified conglomerate by breaking itself up into four separate listed companies: Hanson plc, Imperial Tobacco
Imperial Tobacco
Imperial Tobacco is a global tobacco company headquartered in Bristol, United Kingdom. It is the world’s fourth-largest cigarette company measured by market share , and the world's largest producer of cigars, fine-cut tobacco and tobacco papers...
, The Energy Group
The Energy Group
The Energy Group plc was a British power generator and distributor. After it was demerged from Hanson plc in 1996 it was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index but it was acquired by Texas Utilities in 1998....
and Millennium Chemicals
Millennium Chemicals
Millennium Inorganic Chemicals is a Hunt Valley, MD based chemical company.The business was established in 1985. It was a subsidiary of British conglomerate Hanson plc at one time, but was demerged on 1 October 1996, when it became an independent listed company...
.
Lord Hanson stepped down as chairman in December 1997. After Lord Hanson's departure the Company focussed on building materials. In 1999 the Company acquired Pioneer International, an Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
n building materials business.
In May 2007, Heidelberg Cement announced its intent to purchase Hanson PLC for £
Pound sterling
The pound sterling , commonly called the pound, is the official currency of the United Kingdom, its Crown Dependencies and the British Overseas Territories of South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha. It is subdivided into 100 pence...
11 per share, a deal worth approximately £8 billion
1000000000 (number)
1,000,000,000 is the natural number following 999,999,999 and preceding 1,000,000,001.In scientific notation, it is written as 109....
. This deal made the combined company the second largest cement and building materials company in the world. The transaction was completed through Heidelberg subsidiary Lehigh UK on 22 August 2007.
Operations
Hanson's two largest markets are the United Kingdom and the United StatesUnited States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, and it is also active in many other countries. It is the world's leading producer of aggregates (particles of rock, gravel and sand), and a major producer of bricks and concrete pipes.
External links
Company data
http://hanson-share-history.yolasite.com