Courtaulds was an English based manufacturer of fabric, clothing, artificial fibres, and chemicals. Royal motto (French): Dieu et mon droit (Translated: God and my right) Englands location (dark green) within the United Kingdom (light green), with the Republic of Ireland (blue) to its west Languages English Capital London Largest city London Area – Total Ranked 1st UK 130,395 km² Population – Total (mid...

Foundation

George Courtauld returned to England in 1794, and founded a silk, crepe and textile business in north Essex at Pebmarsh – George Courtauld & Co – with his cousin Peter Taylor (1790-1850). In 1810, his American-born son Samuel Courtauld was managing his own silk mill in Braintree, Essex. Royal motto (French): Dieu et mon droit (Translated: God and my right) Englands location (dark green) within the United Kingdom (light green), with the Republic of Ireland (blue) to its west Languages English Capital London Largest city London Area – Total Ranked 1st UK 130,395 km² Population – Total (mid... 1794 was a common year starting on Wednesday (see link for calendar). ... Essex is a county in the East of England. ... 1790 was a common year starting on Friday (see link for calendar). ... 1850 was a common year starting on Tuesday (see link for calendar). ... There have been at least two prominent people called Samuel Courtauld. ... Silk weaver Silk is a natural protein fiber that can be woven into textiles. ... There are several places named Braintree, or a variant thereof:- Braintree, Essex - a town in the county of Essex, in the United Kingdom The town gives its name to the constituency of Braintree. ...

In 1818, George Courtauld returned to America, leaving Samuel Courtauld and Taylor to expand the business Рnow known as Courtauld & Taylor Рby building further mills in Halstead and Bocking. In 1825 Courtauld installed a steam engine at the Bocking mill, and then installed power looms at Halstead. His mills, however, remained heavily dependent on young female workers Рin 1838, over 92% of his workforce was female. 1818 (MDCCCXVIII) is a common year starting on Thursday of the Gregorian calendar or a common year starting on Saturday of the 12-day slower Julian calendar. ... This page is about the country United States of America. ... Location within the British Isles Halstead is a rural town located in Essex, England, near such historical towns as Colchester and Sudbury. ... Arms of the former Braintree and Bocking Urban District Council Braintree is a town of about 30,000 people in the county of Essex, in the south east of England. ... 1825 was a common year starting on Saturday (see link for calendar). ... A steam engine is an external combustion heat engine that makes use of the thermal energy that exists in steam, converting it to mechanical work. ... The power loom was designed in 1784 by Edmund Cartwright and first built in 1785. ... | J̦ns Jakob Berzelius, discoverer of protein 1838 was a common year starting on Monday (see link for calendar). ...

By 1850, Courtauld employed over 2,000 people in his three silk mills, and he had recruited partners including (in 1828) his brother, George Courtauld II (1802-1861) and – in 1849 - fellow Unitarian social reformer Peter Alfred Taylor (1819-1891 – son of Peter Taylor who died the following year). By this time, Courtauld was a very wealthy man but was also suffering from deafness. He planned to spend more time on his country estate Gosfield Hall near Halstead, but could not convince himself to retire, and continued to play an active role in the company until just before he died in March 1881. 1828 was a leap year starting on Tuesday (see link for calendar). ... --69. ... 1861 is a common year starting on Tuesday. ... 1849 was a common year starting on Monday (see link for calendar). ... 1819 common year starting on Friday (see link for calendar). ... 1891 (MDCCCXCI) was a common year starting on Thursday (see link for calendar). ... This article is about hearing impairment in the patholocial sense. ...

His great nephew Samuel Courtauld (1876-1947) became chairman of the Courtauld company in 1921 but is chiefly remembered today as the founder of the Courtauld Institute of Art in London. Samuel Courtauld (1876-1947) was an English industrialist (great-nephew of textile magnate Samuel Courtauld) who is best remembered as an art collector. ... 1876 (MDCCCLXXVI) is a leap year starting on Saturday. ... 1947 (MCMXLVII) was a common year starting on Wednesday (the link is to a full 1947 calendar). ... 1921 (MCMXXI) was a common year starting on Saturday (see link for calendar). ... The Courtauld Institute of Art is a listed organisation of the University of London specialising in the study of the history of art. ... London is the capital city of the United Kingdom and of England and is the most populous city in the European Union. ...

Expansion

Courtaulds had entered the market of cellulosics (viscose and acetate), in North America with the setting up of the American Viscose Corporation (AVC) in 1909. The investment in the USA was highly successful, but its sale was enforced in 1941 as part of the negotiations which preceded Lend-Lease. The Lend-Lease program was a program of the United States during World War II that allowed the United States to provide the Allied Powers with war material without becoming directly involved in the war. ...

Mean while in Europe, Courtaulds expanded it's cellulosics business bouth directly and in JV's, including British Cellophane.

In Europe in 1945 Courtaulds remained one of the four groups which dominated the man-made fibre industry in Europe (counting the German VGF and the Dutch AKU as one group, and including also the CTA--later merged into Rhone-Poulenc~-in France, and Sonia Viscose in Italy). Courtaulds activities in continental Europe consisted in a wholly-owned, one-factory viscose fibre business employing some 3,000 people in France, a 50% share in a similar business in Germany (of which the other 50% was owned by VGF, the major competitor), and a minority shareholding which controlled 20% of the voting capital in the Italian firm Sonia Viscosa, also primarily a viscose fibre producer. This activity expanded until the 1960's, when these products were replaced by newer developments

Post World War II

Courtaulds was one of the earliest companies in the U.K. to establish an economics department. In the three decades following World War II that department made notable contributions to the understanding of investment appraisal and the formulation of British - and later European trade policy. It also played a significant role in the development of Courtaulds from a rather sedate man-made fibers producer to the world's largest textile manufacturer, a position the company attained in the mid-1970s. The department then influenced the early stages of the subsequent extensive restructuring of the company, a process that culminated in the demerging of its textile activities as a separately quoted company in March 1990 ^[1] Combatants Allies: Poland, British Commonwealth, France/Free France, Soviet Union, United States, China, and others Axis Powers: Germany, Italy, Japan, and others Casualties Military dead: 17 million Civilian dead: 33 million Total dead: 50 million Military dead: 8 million Civilian dead: 4 million Total dead: 12 million World War II...

Break-Up

By the late 1980's, the manufacture of clothing was quickly moving to South East Asia, and China. Courtaulds had shut many of it's UK based factories and moved production to new Asian based sites ^[2] but it's main customer Marks and Spencer wanted better prices. Secondly, it's main profit was coming from it's Chemicals business, which was being held back by the Textiles business. Marks and Spencer plc (known also as M&S and sometimes colloquially as Marks and Sparks) is the largest retailer in the United Kingdom by sales. ...

In 1990, Courtaulds plc split itself in to two parts:

• Courtaulds textiles - the fibre manufacture and clothing business
• Courtaulds plc - the chemicals business

Courtaulds plc

Courtaulds plc was the chemicals part of the business. However, the global chemicals industry was in a distinct recession, and the company faced difficult times. The company employed 23,000 and had £2 billion ($2.9 million) in annual revenue, with 30% from the United States, 40% from Europe and 15% from Asia-Pacific. CEO Sipko Huismans had focused the company on rationalisation and cost cutting: We have to cut costs. We can't count on sales growth to pay us more or to allow us to buy more of our favorite things. In 1991, the company closed its French plant that made viscose, allowing its other plants to boost output to 93% capacity, compared with an industry average of 75%. This enabled the share price to double in its first three years of freedom ^[3]

Although prices were stable, Courtaulds hd a potential revenue generator in Tencel, a man-made fiber Courtaulds spent £100 million and 10 years bringing to market. Tencel, like viscose, is made from cellulose derived from dissolved wood pulp. While rayon production produces large amounts of sulfurous waste, Tencel is made with a "closed loop" chemical process whereby the solvent can be filtered and reused. The final product is far stronger than rayon or cotton, which allows a huge variety of different forms and feels - from ultrasoft yet strong denim jeans, to shirts that feel like silk, to scarves that ape the texture of cashmere ^[4]

To aid it's goal of expanding it's business, and specifically in Asia-Pacific, Courtaulds plc delivered part of it's development in joint ventures, particularly with Akzo Nobel. In 2000, Akzo-Nobel proposed a merger, which the EU approved subject to the sale of the aerospace business^[5] Akzo Nobel is a multinational company, active in the fields of healthcare products, coatings and chemicals. ...

In October 2000, PPG Industries announced it had agreed to buy Courtaulds Aerospace for $512.5 million. Based in Glendale, CA, the Aerospace business has annual sales of approximately $240 million (U.S.), employs 1,200 people. It manufactures sealants in Glendale, CA, and Shildon, England; coatings and sealants in Mojave, CA; glazing sealants at Gloucester City, NJ; and coatings at Gonfreville, France. The business also operates 14 application-support centers in North America, Europe, Africa, Asia, and Australia ^[6] PPG Industries NYSE: PPG was founded in 1883 under the name Pittsburgh Plate Glass Co. ... County Los Angeles County, California Area  - Total  - Water 79. ... Shildon is a town in County Durham, in England. ...

Courtaulds Textiles

Courtaulds Textiles is the textiles side of the business. Britain's largest producer of lingerie and underwear, the organization employs around 20,000 people across 16 countries in Europe, North America and Asia, and has an annual turnover exceeding GBP 1,000 million, forty percent of which is contributed by sales to Marks & Spencer. It markets its products under leading retailer labels across the world as well as its own reputed brands which include Aristoc, Berlei and Grossard & Well. Additionally, Courtaulds Textiles had an international network of lace and stretch fabric businesses. The company has an annual turnover exceeding GBP 1,000 million, forty percent of which is contributed by sales to Marks & Spencer.

The business has moved most of it's manufacturing jobs offshore, most of which as now divested in joint ventures for flexibility. Investments in Sri Lanka include joint venture partnership with MAS Holdings (Pvt) Ltd, a £2million investment which employs 2,000 people and manufacturers lingerie and leisurewear for retailers including Victoria's Secret, Marks & Spencer, BHS and Hanro. A second joint venture of £3.1million employs 1,100 and exclusively manufactures mens underwear and baby wear for Marks & Spencer. A GBP 3 million expansion phase is already underway which will increase the 700 strong workforce to 1,100 ^[7] Adriana Lima on the cover of a Victorias Secret catalog. ... BHS also stands for British Horse Society // Overview British Home Stores (also known as BHS or, more recently Bhs) is a stalwart general retailer of the British High Street, selling clothes and household items (such as bedlinen, cutlery, crockery and lighting). ...

In 2000, Sara Lee approached Courtaulds Textiles. A bitter battle ensued, and Courtaulds issued various counter measures to survive as an independent company. However, Sara Lee's chairman announced that the The acquisition will strengthen our European presence and give us access to a range of exciting market opportunities - so they increased their offer to £150Million, and won ^{[8] [9]} Sara Lee Corporation (NYSE: SLE) is an American consumer-goods company based in Illinois. ...

While the Courtaulds name disappeared in the merger with Akzo Nobel, the Courtaulds name survived as a division in Sara Lee. However, to survive it had to again slash jobs and axed many of its factories as it has grappled with the high costs of manufacturing in the UK and M&S, under Stuart Rose, continuing to squeeze its suppliers. In February of 2005, Brenda C. Barnes became the chairman and CEO of Sara Lee - and had a far more focused strategy. Courtaulds was basically a British based brand and company, and didn't fit with a global business. Barnes agreed sale of the business was right, and tried to sell the business, which had a turnover in 2005 of $560m (£302m), for some time but has been hampered by Courtaulds' pension deficit. It eventually agreed a deal with the UK pension regulator to increase payments into the deficit from £20m to £32m a year until 2015 ^[10] In May 2006, Sara Lee announced the sale of Courtaulds Textiles to PD Enterprise of Hong Kong, a major supplier of clothing to Courtaulds Textiles. No sale price was announced, but it was announced that Sara Lee would continue to hold the $483 million (£260 million) pension deficit, and Brenda C Barnes commented that Sara Lee had effectivly "given away" the unit ^[11] Chief Executive of Marks & Spencer. ... February is the second month of the year in the Gregorian Calendar. ... 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... Chief Executive Officer (CEO) is the job of having the ultimate executive responsibility or authority within an organization or corporation. ...

PD Enterprise Ltd, a privately held company based in Hong Kong, operates nine facilities that produce more than 120 million garments annually. Its products include bras, underwear, nightwear, swim and beachwear, formalwear and casualwear, jackets and coats, babywear and socks.

Brands

• Gossard - ladies underwear

Production sites

• Flintshire - German Glanzstoff Manufacturing Company started an artifical silk factory in Flint in 1907. During the World War I the factory was taken over by Courtaulds in 1917, who in 1920 built Castle Works followed the Deeside Mill in 1922. At its height Courtaulds employed over 10,000 people at four sites. Textile production declined from 1950, and Aber works shut initially in 1957, opened for rayon in 1966, and pulled down in 1984. Castle works closed in 1977 and Deeside Mill in 1989 ^[12]

• Northern Ireland - many of the laterly held British based jobs were based in the grant aided infrastructure of Northern Ireland. Limavady employed 185 jobs, which were lost in May 2004

Flintshire (Welsh: Sir y Fflint) is a traditional county and principal area in northern Wales. ... Combatants Allies: Serbia, Russia, France, Romania, Belgium, British Empire, United States, Italy, and others Central Powers: Germany, Austria-Hungary, Bulgaria, Ottoman Empire Casualties Military dead: 5 million Civilian deaths: 3 million Total of dead: 8 million Military dead: 4 million Civilian deaths: 3 million Total dead: 7 million Spanish Flu... Dieu et mon droit (motto) (French for God and my right)2 Northern Irelands location within the UK Main language English Other recognised languages Irish, Ulster Scots Capital and largest city Belfast First Minister Office suspended Secretary of State for Northern Ireland Peter Hain MP Area  - Total Ranked 4th... Limavady is a town in County Londonderry in Northern Ireland. ...

References

1. ^ http://www.allbusiness.com/periodicals/article/119291-1.html
2. ^ http://www.ukbusinesspark.co.uk/cos99406.htm
3. ^ http://europa.eu/bulletin/en/9806/p103050.htm
4. ^ http://www.iht.com/bin/print_ipub.php?file=/articles/1993/02/25/chem_0.php
5. ^ http://europa.eu/bulletin/en/9806/p103050.htm
6. ^ http://www.pcimag.com/CDA/Archives/5ccca34a916a7010VgnVCM100000f932a8c0____
7. ^ http://www.boi.lk/popcontent/courtaulds.htm
8. ^ http://www.brandfinance.com/docs/clients/client_details.asp?id=5
9. ^ http://www.saralee.com/newsroom/news_release_popup.aspx?id=134
10. ^ http://www.bharattextile.com/newsitems/1999693
11. ^ http://business.timesonline.co.uk/article/0,,9065-2173217,00.html
12. ^ http://www.bbc.co.uk/wales/northeast/sites/flintshire/pages/courtaulds2.shtml

External links

• Courtaulds background
• Courtaulds in Europe