FKI Electricals
of Halifax
Fisher Karpark Industries
Previously known as Fisher Karpark Industries Ltd.
Maker of parking meters and automatic car batteries
FKI Electricals
1982 Listed on Unlisted Securities Market[1] through reverse takeover of Woodend Securities[2]
1983 Acquired English Numbering Machines from Rank. Production to be concentrated in Halifax[3]. Moved to main stock market.
1984 Acquired Burndept, maker of radio communication equipment[4]
1985 Acquired Metamec, clockmaker[5] and Poppe Manufacturing from Hallite[6], and 4 transport equipment companies: TI Crypton, TI Bradbury, TI Transervice, TI Transport Equipment[7]
1986 Acquired the engineering and components business of Thorn EMI[8]. Substantial rationalization. Acquired Laurence, Scott and Electromotors and rapidly turned it around[9]
1987 Sunleigh Electronics bought 3 companies from FKI in exchange for a 24 percent shareholding[10]; FKI acquired Normand Electrical Co[11]. Acquired Stone International which was in trouble arising from an overseas contract[12]
FKI Babcock
1987 Acquired the much larger Babcock International with a rights issue which was poorly taken up; the combined group would have 30,000 employees; name changed to FKI Babcock[13]. Closed down about one-third of Babcock's sites and made 4000 staff redundant, giving emphasis to manufacturing and less to contracting[14]
1989 Because of the low stock market rating, FKI demerged from Babcock International, having shrunk the business to its profitable parts, leaving a North American division and electrical products[15]
FKI Babcock was broken up when the chairman, responsible for the growth in the previous 10-15 years, became disenchanted[16]
FKI
1989 FKI acquired Osborn-Mushet Tools, which was combined with Clarkson International Tools as a world leader in precision tools[17]
1990 FKI made 5 acquisitions[18]. Profit warning. Unable to sell the American division because of collapse of the junk bond market[19]
1991 Further rationalisation when profits fell more[20]. Sold the Stone air conditioning business to a Japanese company[21]
1992 Rationalisation completed and upturn expected but the company was dependent on the depressed vehicle and housing markets; materials handing and vehicle parts were doing well but process control was less successful[22]. Staff numbers had been reduced to about 12,500[23]
1994 Wellman acquired several businesses from FKI including Bradbury, Crypton, Tully, Transervice and Data Recording Instruments and Babcock Robey[24]
1995 Acquired Amdura; Amdura's principal subsidiary Crosby was a leading manufacturing of sheaves, shackles and hooks used in lifting applications[25]
1996 Had made several acquisitions and successful rights issue; acquired the Hawker Siddeley Electrical Power Group[26]
2004 Closure of 8 loss-making business units with 700 staff to lose their jobs; the group would concentrate on 5 main businesses: Logistex, Bridon, Crosby, Brush Electrical Machines, Truth and Wright Products[27]
2006 Acquired Harrington Generators International
2008 The group had 4 main elements[28]:
- Hardware (Truth and Wright Products)
- Logistex, maker of baggage-handling equipment
- Energy Technologies
- Lifting Gear (Crosby)
2008 Acquired by Melrose, including the Bridon, Brush, Crosby, Marelli, Truth, Harris and Acco subsidiaries.
See Also
Sources of Information
- ↑ The Times, Dec 03, 1982
- ↑ The Times, Oct 03, 1983
- ↑ The Times, Jun 13, 1983
- ↑ The Times, Jun 09, 1984
- ↑ The Times, Jan 30, 1985
- ↑ The Times, Sep 02, 1985
- ↑ The Times, Nov 13, 1985
- ↑ The Times, May 28, 1986
- ↑ The Times, June 06, 1987
- ↑ The Times, April 18, 1987
- ↑ The Times, April 30, 1987
- ↑ The Times, June 06, 1987
- ↑ The Times, July 22, 1987
- ↑ The Times, November 27, 1987
- ↑ The Times, July 20, 1989
- ↑ The Times, April 11, 1991
- ↑ The Times November 28, 1989
- ↑ The Times, April 13, 1990
- ↑ The Times, June 15, 1990
- ↑ The Times, June 14, 1991
- ↑ The Times, December 17, 1991
- ↑ The Times, June 19, 1992
- ↑ The Times, November 13, 1992
- ↑ The Times, July 19, 1994
- ↑ 1995 Annual report
- ↑ The Times, September 13, 1996
- ↑ The Times 28 Jan 2004
- ↑ The Times, March 06, 2008