Cape plc

Last updated
Cape plc
IndustryEnergy services
Founded1893
Headquarters West Drayton, Middlesex
Key people
Timothy Eggar (Chairman)
Joe Oatley (CEO)
ProductsAccess, Insulation, Coatings, Passive Fire Protection, Refractory Linings, Environmental Services, Oil and Gas Storage Tanks and Heat Exchanger Replacement and Refurbishment
Revenue £697.1 million (2013) [1]
£41 million (2013) [1]
£23.5 million (2013) [1]
Number of employees
18,000 (2014) [2]
Website www.capeplc.com

Cape plc is a British energy services company based in West Drayton, Middlesex. It was acquired by Altrad in September 2017.

Contents

History

The company was founded in 1893 as the Cape Asbestos Company with the objective of mining asbestos in the Orange Free State and importing it into European countries where it could be woven into fire-resistant materials. [3] By 1913 it had four factories in the London area including a facility in Barking [3] 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. [4] In 1976 it established a scaffolding division [5] 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. [6] Although it had a full listing during the 1980s it was at that time 67.3% owned by Charter Consolidated plc. [6]

In 1990, the company was involved in an important UK company law case, Adams v Cape Industries plc , concerning separate legal personality and limited liability of shareholders for asbestos related injuries. [7] A subsequent related case in 2012, Chandler v Cape plc , also involved the company. [8]

It transferred from a full listing to the Alternative Investment Market in 2002 in a bid to cut costs [9] and it reached a settlement in 2003 to pay £7.5 million to 7,500 claimants from South Africa who had been seeking compensation over many years for asbestos-related health problems. [10] In 2006 it established a £40 million fund for claimants based in the UK. [11]

In 2006 it bought DBI, an industrial cleaning specialist based in the UK, [12] and in 2007 it acquired PCH, a scaffolding and hoist company based in Australia. [13] 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. [14]

The company was acquired by Altrad for £332 million in September 2017. [15]

In 2023, MPs and asbestos victim campaigners in the UK called on Cape to provide a £10m donation towards mesothelioma research. This is due to documents [16] released after a long running court battle showing Cape "provided misleading reassurance about the dangers of asbestos". [17] Labour MP Ian Lavery, chair of the all-party parliamentary group (APPG) on occupational safety and health, and the group’s other members, said: "Knowing the links between the products made by your company, the role of Cape in knowingly putting more people in danger, and the devastating consequences, we appeal to your company to make this donation. Mesothelioma is always terminal, and Britain has the highest rates of anywhere in the world." [18]

Operations

Cape provides "non-mechanical" multi-disciplined integrated support services covering such disciplines as access, scaffolding, insulation, coatings, passive fire protection, refractory linings, environmental services, oil and gas storage tanks and heat exchanger replacement and refurbishment, project management and other essential services to major industrial clients in the energy sector. [19]

Related Research Articles

<span class="mw-page-title-main">Mesothelioma</span> Cancer associated with asbestos

Mesothelioma is a type of cancer that develops from the thin layer of tissue that covers many of the internal organs. The area most commonly affected is the lining of the lungs and chest wall. Less commonly the lining of the abdomen and rarely the sac surrounding the heart, or the sac surrounding the testis may be affected. Signs and symptoms of mesothelioma may include shortness of breath due to fluid around the lung, a swollen abdomen, chest wall pain, cough, feeling tired, and weight loss. These symptoms typically come on slowly.

Reach plc is a British newspaper, magazine and digital publisher. It is one of the UK's biggest newspaper groups, publishing 240 regional papers in addition to the national Daily Mirror, Sunday Mirror, The Sunday People, Daily Express, Sunday Express, Daily Star, Daily Star Sunday as well as the Scottish Daily Record and Sunday Mail and the magazine OK! Since purchasing Local World, it has gained 83 print publications. Reach plc's headquarters are at the One Canada Square in London. It is listed on the London Stock Exchange.

Owens Corning is an American company that develops and produces insulation, roofing, and fiberglass composites and related materials and products. It is the world's largest manufacturer of fiberglass composites. It was formed in 1935 as a partnership between two major American glassworks, Corning Glass Works and Owens-Illinois. The company employs approximately 19,000 people around the world. Owens Corning has been a Fortune 500 company every year since the list was created in 1955. The Pink Panther acts as the company's mascot and appears in most of their advertisements.

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<span class="mw-page-title-main">Johns Manville</span> American manufacturing corporation

Johns Manville is an American company based in Denver, Colorado, that manufactures insulation, roofing materials and engineered products. For much of the 20th century, the then-titled Johns-Manville Corporation was the global leader in the manufacture of asbestos-containing products, including asbestos pipe insulation, asbestos shingles, asbestos roofing materials and asbestos cement pipe.

The mineral asbestos is subject to a wide range of laws and regulations that relate to its production and use, including mining, manufacturing, use and disposal. Injuries attributed to asbestos have resulted in both workers' compensation claims and injury litigation. Health problems attributed to asbestos include asbestosis, mesothelioma, lung cancer, and diffuse pleural thickening.

<span class="mw-page-title-main">RSA Insurance Group</span> British multinational general insurance company

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<i>Adams v Cape Industries plc</i> UK company law case

Adams v Cape Industries plc [1990] Ch 433 is a UK company law case on separate legal personality and limited liability of shareholders. The case also addressed long-standing issues under the English conflict of laws as to when a company would be resident in a foreign jurisdiction such that the English courts would recognise the foreign court's jurisdiction over the company. It has in effect been superseded by Lungowe v Vedanta Resources plc, which held that a parent company could be liable for the actions of a subsidiary on ordinary principles of tort law.

<span class="mw-page-title-main">Compensation Act 2006</span> United Kingdom legislation

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<span class="mw-page-title-main">Turner & Newall</span> Asbestos manufacturer of Manchester, UK (1871-1998)

Turner & Newall was a manufacturing business based in Manchester, United Kingdom. At its peak, it was a constituent of the FT 30 index of leading companies on the London Stock Exchange. As part of their business, the company was one of the first to industrialise asbestos, and its eventual demise in 2001 left an aftermath of asbestos litigation.

<span class="mw-page-title-main">Asbestos</span> Carcinogenic fibrous silicate mineral

Asbestos is a naturally occurring fibrous silicate mineral. There are six types, all of which are composed of long and thin fibrous crystals, each fibre being composed of many microscopic "fibrils" that can be released into the atmosphere by abrasion and other processes. Inhalation of asbestos fibres can lead to various dangerous lung conditions, including mesothelioma, asbestosis, and lung cancer. As a result of these health effects, asbestos is considered a serious health and safety hazard.

<span class="mw-page-title-main">Armley asbestos disaster</span> Asbestos contamination

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<i>Chandler v Cape plc</i>

Chandler v Cape plc [2012] EWCA Civ 525 is a decision of the Court of Appeal which addresses the availability of damages for a tort victim from a parent company, in circumstances where the victim suffered industrial injury during employment by a subsidiary company.

<i>In re Garlock Sealing Technologies, LLC</i>

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<span class="mw-page-title-main">Koegas mine</span> Mine in Northern Cape, South Africa

The Koegas mine was a crocidolite mine in Northern Cape, South Africa. It lies near to the town of Prieska and drew much of its workforce from there and Griquatown; though significant proportions also came from Botswana, Zimbabwe and Malawi. The mine was opened by Cape Asbestos Company Limited in 1893. Its small-scale operations were unprofitable and it temporarily ceased work in 1903. Production resumed in 1907 and the First World War led to a boom. The mine eventually became the largest crocidolite mine in the world. After a difficult period during the Great Depression the Second World War and post-war economic boom led to an increase in production, with up to 5,000 miners on site. Extraction and milling of asbestos continued until 1979.

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References

  1. 1 2 3 "Preliminary Results 2013" (PDF). Cape plc. Archived from the original (PDF) on 3 September 2014. Retrieved 27 October 2014.
  2. "Cape: About Cape".
  3. 1 2 "Cape Asbestos Company" (PDF). London Borough of Barking and Dagenham. Retrieved 2011-09-17.[ permanent dead link ]
  4. "Acre Mill" . Retrieved 2011-09-17.
  5. "Some significant events in UK asbestos compensation 2004/5" (PDF). Retrieved 2011-09-17.
  6. 1 2 "Charter Consolidated PLC" (PDF). Competition Commission. Archived from the original (PDF) on 2007-10-24. Retrieved 2011-09-17.
  7. Kershaw, David (2012). Company Law in Context. OUP Oxford. p. 147. ISBN   9780199609321.
  8. Meeran, Richard (2021). Human Rights Litigation Against Multinationals in Practice. OUP Oxford. p. 64. ISBN   9780198866220.
  9. "Cape to move to AIM". Cape plc. 10 April 2002. Retrieved 2011-09-17.
  10. "Case profile: Cape/Gencor lawsuits (re So. Africa)". Business and Human Rights Resource Centre. Archived from the original on 2011-08-30. Retrieved 2011-09-24.
  11. "Asbestos Victims Groups Warn Cape on it's [sic] proposed Asbestos Fund". Hazards Magazine. 2006. Retrieved 2011-09-24.
  12. "Cape acquires DBI". 8 January 2007. Retrieved 2011-09-17.[ dead link ]
  13. "Cape bids £95m for PCH Group after demand from shareholders". Yorkshire Post. 14 September 2007. Retrieved 2011-09-17.
  14. "LG advises Cape Plc on proposed new international holding company and move to the LSE market". LG. 12 May 2011. Archived from the original on 2011-11-03. Retrieved 2011-09-24.
  15. "Altrad Bids £332 Million to Buy Cape". Scaffolding Magazine. 7 July 2017. Retrieved 13 September 2017.
  16. "Cape Documents".
  17. Siddique, Haroon (March 20, 2022). "UK asbestos maker withheld information on material's risks, court papers show". The Guardian.
  18. Siddique, Haroon (January 22, 2023). "MPs urge asbestos company to pay £10m to fund cancer research". The Guardian.
  19. "Annual Report for the year ended 31 December 2010" (PDF). Cape plc. Archived from the original (PDF) on 1 April 2012. Retrieved 2011-09-17.