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BTR plc
BTR plc was a British multinational industrial conglomerate company. It was headquartered in London, England.
The company was originally founded in 1924 as the British Goodrich Rubber Co. Ltd as a subsidiary of the American rubber specialist B.F.Goodrich Company. Ten years later, it became the British Tyre & Rubber Co. Ltd after Goodrich sold its stake in the business; it moved into synthetic rubber and plastics during the 1940s and withdrew from tyre production in 1956, adopting the name BTR Ltd around the same timeframe. Management pursued a strategy of diversification and rationalisation that lasted into the mid-1960s.
During late 1966, BTR came under the control of a new central management team, which Sir Owen Green took the lead of in the following year. Green pursued a strategy of targeted growth towards opportunities that quickly would become lucrative. New subsidiaries would be created and numerous acquisitions would be undertaken by Green and later by Alan Jackson. This approach included multiple hostile takeovers by BTR, though several such bids failed, for Pilkington, Norton Abrasives, and Hawker Siddeley.
BTR was listed on the London Stock Exchange. During the 1990s, BTR accumulated a considerable debt burden and divested many of its divisions during restructuring efforts. In 1999, BTR merged with Siebe to form BTR Siebe, later renamed Invensys. Invensys was bought by and absorbed into Schneider Electric in 2014.
BTR can trace its origins back to 1924, at which point the American rubber specialist B.F.Goodrich Company formed a UK-based subsidiary, British Goodrich Rubber Co. Ltd. During 1934, Goodrich opted to sell the majority of its shares in the company, which promptly changed its name to the British Tyre & Rubber Co. Ltd. Shortly thereafter, it was successfully floated on the London Stock Exchange. The company primarily focused on the manufacture of tyres for road vehicles, conveyor belts, and industrial hoses. It benefitted considerably from several innovations developed during the Second World War, such as synthetic rubber and plastics. By 1955, British Tyre & Rubber was one of eleven tyre manufacturers operating in the UK.
During 1956, the company opted to cease production of tyres in favour of its other activities as this business unit was becoming increasingly unprofitable. To reflect the company's changing product line, its name was changed to BTR Limited. The late 1950s and early 1960s were marked by efforts towards diversification and rationalisation, however, BTR achieved poor fiscal performance up until the mid-1960s.
During late 1966, BTR came under the control of a new central management team; the prevailing philosophy was stated to be "growth is the goal, profit is the measure, security is the result". Furthermore, it was posited that, for the company to be strong and lucrative, it would need to operate on an international basis. To this end, BTR, through both acquisition and establishment, established numerous overseas operations; while in-house investment was favoured, external acquisitions were pursued where it was through to result in greater growth opportunities. This process was encouraged by the British government, which supported BTR's amalgamation with similar companies such as the Leyland and Birmingham Rubber Company.
Between 1967 and 1993, BTW was dominated by Sir Owen Green, who initially served as its managing director (until 1986) and then as its chairman. Green's principal focus was on operating margins and cash flow, which arguably came at the cost of long-term investment.
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BTR plc
BTR plc was a British multinational industrial conglomerate company. It was headquartered in London, England.
The company was originally founded in 1924 as the British Goodrich Rubber Co. Ltd as a subsidiary of the American rubber specialist B.F.Goodrich Company. Ten years later, it became the British Tyre & Rubber Co. Ltd after Goodrich sold its stake in the business; it moved into synthetic rubber and plastics during the 1940s and withdrew from tyre production in 1956, adopting the name BTR Ltd around the same timeframe. Management pursued a strategy of diversification and rationalisation that lasted into the mid-1960s.
During late 1966, BTR came under the control of a new central management team, which Sir Owen Green took the lead of in the following year. Green pursued a strategy of targeted growth towards opportunities that quickly would become lucrative. New subsidiaries would be created and numerous acquisitions would be undertaken by Green and later by Alan Jackson. This approach included multiple hostile takeovers by BTR, though several such bids failed, for Pilkington, Norton Abrasives, and Hawker Siddeley.
BTR was listed on the London Stock Exchange. During the 1990s, BTR accumulated a considerable debt burden and divested many of its divisions during restructuring efforts. In 1999, BTR merged with Siebe to form BTR Siebe, later renamed Invensys. Invensys was bought by and absorbed into Schneider Electric in 2014.
BTR can trace its origins back to 1924, at which point the American rubber specialist B.F.Goodrich Company formed a UK-based subsidiary, British Goodrich Rubber Co. Ltd. During 1934, Goodrich opted to sell the majority of its shares in the company, which promptly changed its name to the British Tyre & Rubber Co. Ltd. Shortly thereafter, it was successfully floated on the London Stock Exchange. The company primarily focused on the manufacture of tyres for road vehicles, conveyor belts, and industrial hoses. It benefitted considerably from several innovations developed during the Second World War, such as synthetic rubber and plastics. By 1955, British Tyre & Rubber was one of eleven tyre manufacturers operating in the UK.
During 1956, the company opted to cease production of tyres in favour of its other activities as this business unit was becoming increasingly unprofitable. To reflect the company's changing product line, its name was changed to BTR Limited. The late 1950s and early 1960s were marked by efforts towards diversification and rationalisation, however, BTR achieved poor fiscal performance up until the mid-1960s.
During late 1966, BTR came under the control of a new central management team; the prevailing philosophy was stated to be "growth is the goal, profit is the measure, security is the result". Furthermore, it was posited that, for the company to be strong and lucrative, it would need to operate on an international basis. To this end, BTR, through both acquisition and establishment, established numerous overseas operations; while in-house investment was favoured, external acquisitions were pursued where it was through to result in greater growth opportunities. This process was encouraged by the British government, which supported BTR's amalgamation with similar companies such as the Leyland and Birmingham Rubber Company.
Between 1967 and 1993, BTW was dominated by Sir Owen Green, who initially served as its managing director (until 1986) and then as its chairman. Green's principal focus was on operating margins and cash flow, which arguably came at the cost of long-term investment.