Central Mining & Investment Corporation
| Company type | Public limited company |
|---|---|
| Industry | Engineering |
| Predecessor | British South Africa Company |
| Founded | 1965 |
| Founder | Anglo American Corporation (major shareholder) |
| Defunct | 2012 |
| Fate | Acquired by Colfax Corporation |
| Successor | Colfax Corporation |
| Headquarters | London , United Kingdom |
Area served | Worldwide |
| Products | Welding, cutting and automation technologies (ESAB); air and gas handling equipment (Howden) |
Number of employees | 12,000+ (2010) |
Charter International plc was a prominent engineering enterprise based in London, United Kingdom. It became part of Colfax Corporation following an acquisition in January 2012.
History
The origins of Charter International trace back to the British South Africa Company, which was established in 1889 under a Royal Charter. In 1965, driven by the efforts of the Anglo American Corporation, it combined with The Central Mining & Investment Corporation and The Consolidated Mines Selection Company to create Charter Consolidated, with Anglo American holding slightly more than one-third of the equity. Initially, the company concentrated on global mining investments and mineral exploration; however, during the 1980s, it shifted its focus by divesting many of its international mining operations to prioritize engineering activities within the UK. It acquired an 80% interest in Morrison Construction, which was subsequently bought back by the Morrison family in 1989.
In 1993, the organization adopted the name Charter plc. It grew through strategic acquisitions such as ESAB in 1994 and Howden in 1997, thereby enhancing its engineering capabilities. In early 1999, Charter announced plans to divest its subsidiary Pandrol Rail Fastenings, which was eventually sold in 2003 to the French company Delachaux.
By 2008, Charter underwent a corporate restructuring that led to the formation of an Irish-registered holding entity named Charter International plc. Prior to its purchase by Colfax Corporation in 2012, the company employed over 12,000 individuals and reported revenues amounting to £1.72 billion alongside a net profit of £119 million in 2010.
Operations
The business comprised two main divisions:
- ESAB: providing solutions in welding, cutting, and automation technologies
- Howden: specializing in equipment for air and gas handling systems
External links
- Engineering companies of the United Kingdom
- Defunct companies based in London
- Non-renewable resource companies established in 1965
- 1965 establishments in the United Kingdom
- British South Africa Company
- Technology companies disestablished in 2012
- 2012 disestablishments in the United Kingdom
- Tax inversions
- 2012 mergers and acquisitions
- Non-renewable resource companies disestablished in 1965