Cape plc
Encyclopedia
Cape plc is a United Kingdom
energy services company based in Uxbridge
, West London
. It is a constituent of the FTSE 250 Index
.
in the Orange Free State
and importing it into European countries where it could be woven into fire-resistant materials. By 1913 it had four factories in the London
area including a facility in Barking
and in 1939 it opened a manufacturing facility at Acre Mill near Hebden Bridge
to meet the demand for gas mask
filters made from blue asbestos during the Second World War. In 1976 it established a scaffolding division and in the late 1970s it developed asbestos-free products such that by 1980 it had become the world's foremost supplier of asbestos free protection and insulation board. Although it had a full listing during the 1980s it was at that time 67.3% owned by Charter Consolidated plc.
It transferred from a full listing to the Alternative Investment Market
in 2002 in a bid to cut costs and it reached a settlement in 2003 to pay some £7.5 million to some 7,500 claimants from South Africa
who had been seeking compensation over many years for asbestos related health problems. In 2006 it established a £40 million fund for claimants based in the UK.
In 2006 it bought DBI, an industrial cleaning specialist based in the UK, and in 2007 it acquired PCH, a scaffolding and hoist company based in Australia
. In June 2011 it was transferred back to a full listing from the Alternative Investment Market and was restructured in such a way that it was ultimately Jersey
-registered.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
energy services company based in Uxbridge
Uxbridge
Uxbridge is a large town located in north west London, England and is the administrative headquarters of the London Borough of Hillingdon. It forms part of the ceremonial county of Greater London. It is located west-northwest of Charing Cross and is one of the major metropolitan centres...
, West London
West London
West London generally refers to the western portions of London, and may refer specifically to:*West *West End of London*W postcode area...
. It is a constituent of the FTSE 250 Index
FTSE 250 Index
The FTSE 250 Index is a capitalisation-weighted index consisting of the 101st to the 350th largest companies on the London Stock Exchange. Promotions to and demotions from the index take place quarterly in March, June, September and December...
.
History
The company was founded in 1893 as the Cape Asbestos Company with the objective of mining asbestosAsbestos
Asbestos is a set of six naturally occurring silicate minerals used commercially for their desirable physical properties. They all have in common their eponymous, asbestiform habit: long, thin fibrous crystals...
in the Orange Free State
Orange Free State
The Orange Free State was an independent Boer republic in southern Africa during the second half of the 19th century, and later a British colony and a province of the Union of South Africa. It is the historical precursor to the present-day Free State province...
and importing it into European countries where it could be woven into fire-resistant materials. By 1913 it had four factories in the London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
area including a facility in Barking
Barking
Barking is a suburban town in the London Borough of Barking and Dagenham, in East London, England. A retail and commercial centre situated in the west of the borough, it lies east of Charing Cross. Barking was in the historic county of Essex until it was absorbed by Greater London. The area is...
and in 1939 it opened a manufacturing facility at Acre Mill near Hebden Bridge
Hebden Bridge
Hebden Bridge is a market town within the Metropolitan Borough of Calderdale, in West Yorkshire, England. It forms part of the Upper Calder Valley and lies 8 miles west of Halifax and 14 miles north east of Rochdale, at the confluence of the River Calder and the River Hebden .A 2004 profile of...
to meet the demand for gas mask
Gas mask
A gas mask is a mask put on over the face to protect the wearer from inhaling airborne pollutants and toxic gases. The mask forms a sealed cover over the nose and mouth, but may also cover the eyes and other vulnerable soft tissues of the face. Some gas masks are also respirators, though the word...
filters made from blue asbestos during the Second World War. In 1976 it established a scaffolding division and in the late 1970s it developed asbestos-free products such that by 1980 it had become the world's foremost supplier of asbestos free protection and insulation board. Although it had a full listing during the 1980s it was at that time 67.3% owned by Charter Consolidated plc.
It transferred from a full listing to the Alternative Investment Market
Alternative Investment Market
AIM is a sub-market of the London Stock Exchange, allowing smaller companies to float shares with a more flexible regulatory system than is applicable to the main market....
in 2002 in a bid to cut costs and it reached a settlement in 2003 to pay some £7.5 million to some 7,500 claimants from South Africa
South Africa
The Republic of South Africa is a country in southern Africa. Located at the southern tip of Africa, it is divided into nine provinces, with of coastline on the Atlantic and Indian oceans...
who had been seeking compensation over many years for asbestos related health problems. In 2006 it established a £40 million fund for claimants based in the UK.
In 2006 it bought DBI, an industrial cleaning specialist based in the UK, and in 2007 it acquired PCH, a scaffolding and hoist company based in Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
. In June 2011 it was transferred back to a full listing from the Alternative Investment Market and was restructured in such a way that it was ultimately Jersey
Jersey
Jersey, officially the Bailiwick of Jersey is a British Crown Dependency off the coast of Normandy, France. As well as the island of Jersey itself, the bailiwick includes two groups of small islands that are no longer permanently inhabited, the Minquiers and Écréhous, and the Pierres de Lecq and...
-registered.