Courtaulds is a manufacturer of fabric, clothing, artificial fibers, and chemicals based in the UK. Founded in 1794 and became the world's leading artificial fiber production company before it was split in 1990 to Courtaulds plc and Courtaulds Textiles Ltd.
Video Courtaulds
History
Foundations
The company was founded by George Courtauld and his cousin Peter Taylor (1790-1850) in 1794 as a business of silk, crepe and textiles at Pebmarsh in North Essex trade as George Courtauld & amp; Co . In 1810, his American-born son, Samuel Courtauld, manages his own silk factory in Braintree, Essex.
In 1818, George Courtauld returned to America, leaving Samuel Courtauld and Taylor to expand the business - now known as Courtauld & amp; Taylor - by building further factories in Halstead and Bocking. In 1825 Courtauld installed a steam engine at the Bocking plant, and then installed electrical appliances at Halstead. The factory, however, remained very dependent on young women workers - in 1838, over 92% of its workforce was women.
In 1850, Courtauld employed more than 2,000 people in his three silk factories, and he recruited partners including (in 1828) his brother, George Courtauld II (1802-1861) and - in 1849 - fellow Unitarian social reformer Peter Alfred Taylor (1819 - 1891 - Peter Taylor's son who died the following year). At this time, Courtauld was a very rich man but also deaf. He plans to spend more time at his country property's Gosfield Hall near Halstead, but can not persuade himself to retire, and continues to play an active role in the company until before he died in March 1881.
His niece, Samuel Courtauld (1876-1947) became chairman of the Courtauld company in 1921 but is especially remembered today as founder of the Courtauld Institute of Art in London. William Julien Courtauld was also an art aide: he gave art to the Essex County Council room in Chelmsford and the town hall in Braintree in the 1930s.
Expansion
Hoping to reduce their dependence on natural silk, in 1904, Courtaulds obtained the Patent Cross and Bevan into the viscose process for the manufacture of artificial silk or rayon from dissolving the pulp. They established the first factory to manufacture it in Coventry UK in 1905. The first yarn was first woven into a cloth at Halstead Mill in Essex in March 1906, but the process remained difficult until further discovery increased the strength of the yarn. However, in recent years the process has been very successful and responsible for turning silk weavers into the world's leading man-made fiber production company.
Courtaulds also entered the market of cellulose (viscose and acetate) in North America with the establishment of American Viscose Corporation (AVC) in 1909. Investing in the US was very successful, but its sales at very low prices were enforced. in 1941 as part of a negotiation that preceded Lend-Lease. In 1927-28 Courtaulds and Vereinigte Glanzstoff-Fabriken (VGF) occupied the Italian rayon factory SNIA Viscosa from Riccardo Gualino. A German VGF director, Karl Scherer, replaces Gualino as head of the company and cuts output drastically. Overseas intervention is seen as shameful by the fascists. In Europe Courtaulds develops its cellulosic business both directly and in joint ventures, including British Cellophane.
In 1945 Courtaulds remained one of four groups that dominated the manmade fiber industry in Europe (counting the German VGF and I Dutch as a group, and including the CTA - later joining the Rhone-Poulenc ~ -in France, and Snia Viscose in Italy). Courtaulds' activities on the European continent consist of a fully owned viscose fiber business, one factory employing about 3,000 people in France, 50% of the shares in a similar business in Germany (the other 50% is owned by VGF, a major competitor), and a minority shareholder 20% of the voting capital in the Italian company Snia Viscosa, also mainly viscose fiber producer. This activity expanded until the 1960s, when these products were replaced by more recent developments.
Courtaulds acquired Fine Spinners and Doublers in 1963 and Lancashire Cotton Corporation in 1964.
Post World War II
Courtaulds is one of the earliest companies in the UK to set up an economic department. In the three decades after World War II the department made important contributions to the understanding of investment judgment and the formulation of European-British and later European trade policies. This function also played an important role in the development of Courtaulds from a rather quiet producer of artificial fiber to the world's largest textile manufacturer, a position the company achieved in the mid-1970s. The economic department then influenced the initial stage of massive corporate restructuring, a process that culminated in the abolition of its textile activities as a company cited separately in March 1990
Break-Up
In the late 1980s, apparel manufacturing quickly moved to Southeast Asia and China. Courtaulds has shut down many of its factories in the UK and transferred its production to a new Asian site, but its main customer Marks and Spencer wants a better price. Furthermore, the main advantage comes from the business of fibers and chemicals, held by the textile business.
In 1990, Courtaulds plc thwarted itself into two parts:
- Courtaulds plc - the business of making fibers and chemicals
- Courtaulds Textiles Ltd - the manufacture of yarns and fabrics and garments
Courtaulds plc
The global chemical industry is in a different recession, and companies face tough times. The company employs 23,000 and has annual revenues of  £ 2 billion, with 30% of the United States, 40% of Europe, and 15% of Asia-Pacific. CEO Sipko Huismans has focused the company on rationalization and cost-cutting: We have to cut costs. We can not rely on sales growth to pay us more or to allow us to buy more of our favorite items. In 1991, the company closed its viscose plant in Calais, France, allowing other factories to increase production capacity by 93%, compared to an industry average of 75%. This allows stock prices to double in the first three years after a demerger.
Despite the stable price, the company has earning potential at Tencel, artificial fibers Courtaulds spent Ã, Â £ 100 million and 10 years brought to market. Like viscose, Tencel is made from cellulose derived from dissolved wood pulp. While rayon production produces large amounts of sulfur waste, Tencel is made with a "closed loop" chemical process in which the solvent can be filtered and reused. The end product is much stronger than rayon or cotton, which allows a variety of different shapes and flavors - from ultrasoft but strong denim jeans, to silken shirts, to a cashmere-like scarf.
To help its purpose expand its business, particularly in Asia-Pacific, Courtaulds plc delivered part of its development in joint ventures, especially with Akzo Nobel. In 1998, Akzo-Nobel proposed a merger, approved by the European Union subject to the sale of Courtauld's aerospace business.
In October 2000, PPG Industries announced it had agreed to purchase Courtaulds Aerospace for $ US512.5 million. Based in Glendale, California, the aerospace business has annual sales of approximately $ US240 million, employing 1,200 people. In the US produce sealants in Glendale, California, and Shildon, England; coatings and sealants in Mojave, California; glazing sealant in Gloucester City, New Jersey; and also coatings in Gonfreville, France. The business also operates 14 application support centers in North America, Europe, Africa, Asia and Australia.
Courtaulds Textiles
Courtaulds Textiles is the largest UK lingerie and underwear manufacturer. The organization employs about 20,000 people in 16 countries in Europe, North America and Asia, and has an annual turnover exceeding Ã, Â £ 1 billion, 40% of which is obtained from sales to Mark & ​​â € < Spencer. It markets its products under leading retailers worldwide and self-owned brands including Aristoc, Berlei and Gossard and Well. In addition, Courtaulds Textiles has a network of international lace and stretch fabric business. After the demerger, the business sold retail business' Salisbury's, Sock Shop and McIlroys department store group in 1995.
The business has moved most of its offshore manufacturing jobs, most of which are now divesting in the joint venture for flexibility. Investments in Sri Lanka include a joint venture partnership with MAS Holdings (Pvt) Ltd, a 2 million pound investment employing 2,000 people and a manufacturer of underwear and casual wear for retailers including Victoria's Secret, Marks & Spencer, BHS and Hanro. The second joint venture of £ 3.1 million employs 1,100 and exclusively produces men's underwear and baby clothing for Marks & amp; Spencer. A phase of £ 3 million expansion is underway which will boost 700 strong workforce to 1,100 people
In 2000, Sara Lee attempted to acquire Courtaulds Textiles. A bitter battle ensued and Courtaulds issued numerous retaliatory measures to survive as an independent company. However, Sara Lee chairman announced that the acquisition will strengthen our presence in Europe and give us access to exciting market opportunities - so they increase their bid to Ã, Â £ 150 million, and win.
While the name Courtaulds disappeared in a chemical merger with Akzo Nobel, Courtaulds' textile name remained as a division in Sara Lee. However, to survive again had to cut jobs and fire many of its factories because it grapples with the high cost of manufacturing in the UK and M & S, under Stuart Rose, kept suppressing its suppliers. In February 2005, Brenda C. Barnes became Sara Lee's chairman and CEO - and has a much more focused strategy. Courtaulds is basically seen as a UK-based brand and company, and is incompatible with global business. Barnes agreed that the sale of the business was right, and for some time tried to sell the business Courtaulds, which had a turnover in 2005 of $ 560 million (£ 302 million), but was hampered by Courtaulds retirement deficits. Finally agreed with the UK pension regulator to increase payments to the deficit from Ã, Â £ 20 million to Ã, Â £ 32 million per year until 2015. In May 2006, Sara Lee announced the sale of Courtaulds Textiles to PD Enterprise Limited, a major supplier of apparel for Textiles Courtaulds. No sale price was announced, but it was announced that Sara Lee would continue to hold a $ 483 million (Â £ 260 million) pension deficit, and Brenda Barnes commented that Sara Lee had effectively "given" the unit.
Source of the article : Wikipedia
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