of Birmingham, specialist in effluent treatment
Company formed to take over Biomechanics International which had developed a process for anaerobic treatment of food waste.
1988 Shares listed on stock market[1]
1988 Won contract from Iraq for metal-treatment plant for (manufacture of) farm tractors[2]
1989 Sam Smith took control of the company[3]
Acquired Leigh Pollution Control of Wolverhampton, ACE, maker of electronic industrial controls, and Aero and Industrial Technology, maker of combustion chambers for gas turbines, and Air Control, an air conditioning contractor.
1989 Second purchase of a company in aerospace: Allan Ford of Lancashire, maker of metal parts in complex shapes for Rolls-Royce; rights issue of shares[4]
1990 Had made 5 acquisitions in past year; the largest was Aero and Industrial Technology from Lucas; half of profits came from the aerospace division; other divisions were electrical and environmental[5]. Acquired Plastic Constructions from Glynwed[6]
1990 Substantial increase in turnover and profits; had made 10 acquisitions since 1988[7]
1991 Acquired Dewey Waters and Three Star Engineering; rights issue[8]
1992 Sharp deterioration in trade; failed to sell aerospace and industrial technology division[9]; resignation of chief executive, replaced by a "company doctor".
1994 Company still making losses[10]
1994 The company was in receivership. Hicking Pentecost and Co bought Dewey Waters[11]
See Also
Sources of Information
- ↑ The Times, October 15, 1988
- ↑ The Times, November 10, 1992
- ↑ The Times, July 10, 1989
- ↑ The Times, July 20, 1989
- ↑ The Times, January 15, 1990
- ↑ The Times, March 26, 1990
- ↑ The Times, October 25, 1990
- ↑ The Times, July 20, 1991
- ↑ The Times, August 15, 1992
- ↑ The Times, February 01, 1994
- ↑ The Times, December 08, 1994