BTR plc

BTR plc

Company type	Public limited company
Industry	Industrial conglomerate
Predecessor	British Goodrich Rubber Co. Ltd
Founded	1924 (1924)
Founder	B.F. Goodrich Company (original subsidiary)
Defunct	1999 (1999)
Fate	Merged with Siebe plc to form BTR Siebe (later Invensys)
Successor	Invensys
Headquarters	London , England, United Kingdom
Area served	Worldwide
Key people	Sir Owen Green (MD/Chairman 1967–1993), Alan Jackson (CEO 1990–1996), Ian Strachan (CEO 1996–2000)
Products	Rubber products, synthetic rubber, plastics, industrial goods, engineering, packaging, materials, building products, polymers
Number of employees	Over 1,500 subsidiaries across 60 countries (early 1990s) (Early 1990s)

BTR plc was a British multinational industrial conglomerate based in London, England.

Established in 1924 as British Goodrich Rubber Co. Ltd, a subsidiary of the American B.F. Goodrich Company, it was renamed British Tyre & Rubber Co. Ltd in 1934 after Goodrich divested its interest. During the 1940s, the firm diversified into synthetic rubber and plastics, ceasing tyre manufacturing by 1956 and adopting the name BTR Ltd. Throughout the mid-1960s, management concentrated on diversification and streamlining operations.

Starting in late 1966, BTR came under centralized leadership with Sir Owen Green taking charge from 1967. Green pursued expansion through targeted acquisitions and new subsidiaries, including several hostile bids—some unsuccessful—for companies such as Pilkington, Norton Abrasives, and Hawker Siddeley. Alan Jackson later maintained this acquisitive approach.

Listed on the London Stock Exchange, BTR encountered considerable debt by the 1990s, leading to divestments amid restructuring. In 1999, it merged with Siebe plc to create BTR Siebe, subsequently renamed Invensys, which was acquired by Schneider Electric in 2014.

Early years

BTR’s origins trace back to 1924 when the American rubber company B.F. Goodrich established British Goodrich Rubber Co. Ltd in the United Kingdom. After divesting most of its shares in 1934, the company was renamed British Tyre & Rubber Co. Ltd and listed on the London Stock Exchange. The business focused on producing tyres for vehicles, conveyor belts, and industrial hoses while capitalizing on innovations such as synthetic rubber and plastics developed during World War II. By 1955, it ranked among eleven UK tyre manufacturers.

Due to unprofitability, tyre production was discontinued in 1956, and the company rebranded as BTR Limited to reflect its broadened product range. Efforts toward diversification and operational rationalization occurred through the late 1950s and early 1960s; however, financial results remained weak until the mid-1960s.

Owen Green and subsequent years; acquisitive industrial group

From late 1966 onwards, BTR adopted an expansion-driven strategy under new centralized management that emphasized growth through acquisitions and internal development. The British government supported mergers involving companies such as Leyland and Birmingham Rubber Company.

Between 1967 and 1993, Sir Owen Green served as managing director and later chairman of BTR, focusing on improving operating margins and cash flow—sometimes at the cost of long-term investments. By 1982, BTR had acquired numerous firms across the UK, US, Canada, Australia, South Africa, and Germany in sectors ranging from raw materials to insurance and corporate services. Its product portfolio primarily catered to other manufacturers. The company operated without a large central research and development department, attracting criticism for its short-term orientation.

Key acquisitions during the 1980s included the Tilling Group (1983) and Dunlop Holdings plc (1985); notably, the Dunlop road tyre division was quickly sold to Sumitomo Rubber Industries. In late 1986, BTR launched a $1.64 billion hostile bid for glass producer Pilkington, which was ultimately rejected following political intervention and resistance from Pilkington’s management. A similar unsuccessful hostile takeover attempt occurred in 1990 targeting Norton Abrasives, valued at $1.643 billion.

In 1988, BTR acquired Schlegel Corporation, a manufacturer specializing in door and window seals with operations spanning twelve countries. After this acquisition, BTR integrated Schlegel UK and Schlegel GmbH subsidiaries into its structure, resulting in a tax valuation dispute with US authorities.

Under CEO Alan Jackson in the early 1990s, BTR expanded to oversee more than 1,500 subsidiaries across 60 countries—a consequence of takeover strategies initiated by both Green and Jackson. In 1992, despite board opposition, BTR completed a £1.5 billion acquisition of Hawker Siddeley—Jackson’s first major hostile takeover as managing director. That same year included purchases of Rockware, a leading UK glass manufacturer, and Pirreli, a sealing products company.

In 1995, BTR extended its presence into Southeast Asia by acquiring Australian plastics firm Nylex, which had previously contributed approximately 41% of BTR’s profits through its Malaysian operations (Berhard).

BTR’s growth approach relied heavily on aggressive global acquisitions supported by significant capital investment alongside stringent cost reductions—including workforce layoffs and disposal of underperforming businesses—practices credited with driving success but also contributing to substantial debt by the late 1990s. Following the retirements of Green and Jackson, restructuring efforts struggled to restore profitability amid growing manufacturing inefficiencies.

Later years

During the late 1990s, BTR, guided by Ian Strachan, implemented a major strategy focused on divestitures. In 1994, the company floated Hawker Siddeley Canada on the Toronto Stock Exchange, relinquishing its 59% ownership for roughly £65 million. Likewise, after holding it for less than ten years, BTR disposed of Rockware.

From 1996 through 1998, BTR sold off its remaining Dunlop businesses and withdrew from the aerospace industry. In November 1997, a management buyout led by UniPoly S.A. acquired 32 BTR subsidiaries, including the Schlegel Sealing and Shielding Group, for about $867 million. This transaction resulted in the creation of UniPoly Group, which assumed control of most of BTR’s rubber product operations. At this time, BTR’s structure was divided into five main sectors: Engineering, Packaging, Materials, Building Products, and Polymers.

In 1999, BTR merged with Siebe, forming BTR Siebe, which was subsequently renamed Invensys. Ian Strachan became the inaugural chief executive officer of Invensys following the merger. This union represented a strategic shift acknowledging that BTR’s traditional business approach no longer met the changing demands of its customers.

Company heads

Below is a listing of the chairmen and managing directors/CEOs of BTR plc from its renaming in 1956 until its acquisition in 1999.

Chairmen of BTR Limited
Order	Chairman	Period
1	Unknown individual	1956 – 1969
2	Sir David Nicolson	1969 – 1984
3	Sir Owen Green	1984 – 1993
4	Sir Norman Ireland	1993 – 1995
5	Elwyn Eilledge	1995 – 1999

Managing directors / CEOs of BTR Limited
Order	MDs / CEOs	Period
1	Unknown individual	1956 – 1967
2	Sir Owen Green	1967 – 1984
3	Sir Norman Ireland	1984 – 1987
4	John Cahill	1987 – 1990
5	Alan Jackson	1990 – 1996
6	Ian Strachan	1996 – 2000

See also

• BTR Aerospace Group