Company type | Public company |
---|---|
LSE: SFR | |
Industry | Construction |
Founded | 1978[1] |
Founders | |
Headquarters | Dalton Airfield Industrial Estate, North Yorkshire |
Key people | |
Products |
|
Revenue | £491.8 million (2023) [7] |
£35.0 million (2023) [7] | |
£21.6 million (2023) [7] | |
Number of employees | 1,719 (2023) [7] |
Website | www |
Severfield plc is a North Yorkshire based structural steel contractor. By turnover it is the largest in the UK, [8] and amongst the biggest in Europe, with a capacity of 165,000 tons per year. [9] Landmark works include London's 2012 Olympic Stadium, The Shard, Wimbledon Centre Court roof, Emirates Stadium and Paris Philharmonic Hall. [10]
The firm has acquired businesses across structural steel market sectors within the UK [1] and participates with JSW Group in two Mumbai based joint ventures, JSW Severfield Structures Ltd and indirectly, JSW Structural Metal Decking Ltd. [10] [11] [12]
The business was founded in 1978 as a partnership named Severfield-Reeve; moved to Dalton in 1980, and incorporated as Severfield Reeve Structural Engineers Ltd in 1983. As a public company it was known from 1988 to 1999 as Severfield-Reeve plc; from 1999 to 2014 as Severfield-Rowen plc, and then adopted its current title. [13] [1]
In July 1988, Severfield-Reeve plc was quoted on the Unlisted Securities Market, then moved up to the London Stock Exchange on 8 June 1995. [1]
As of 2022 [update] , Severfield plc is a component of the FTSE SmallCap Index. [14]
1990 | Shildon based A A Steel Erection Ltd and A & A Fabrications Ltd purchased for £943,238 in shares. [1] [15] [lower-alpha 1] |
---|---|
1991 | Steel trading business, Steel (UK) Ltd (80%) acquired. [19] |
1995 | Meat processing safety equipment subsidiary Manabo (UK) Ltd (75%) begins trading. [20] [21] |
1996 | Remaining 25% minority stake in Manabo (UK) Ltd purchased. [20] |
Sutton-in-Ashfield based structural steel contractor, and airport terminal specialist, J N Rowen Ltd acquired for £800,000. [20] [1] [22] [lower-alpha 2] | |
1997 | Hungarian chain mail glove manufacturing business opened in Bataszek. [28] [29] |
Subsidiary Severfield Reeve Projects Ltd began to undertake construction projects outside of Severfield. [30] | |
1999 | Sheffield based design bureau Kennedy Watts Partnership Ltd (25.1%) purchased. [25] |
2001 | Cellular beam design software developer, Fabsec Ltd incorporated with industry partners. [31] [lower-alpha 3] |
Lostock based structural contractor Watson Steel Structures Ltd purchased from AMEC for £2.6 million. [1] [34] | |
2002 | Wetherby based tubular steel fabricator Tubemasters Ltd purchased for £330,000. [35] [lower-alpha 4] |
Severfield Reeve Projects Ltd diversifies into house building. [37] | |
2005 | Sherburn based Atlas Ward Structures Ltd purchased from Bank of Scotland, and diluted shareholders, for £1.2 million. [1] [38] [39] [lower-alpha 5] |
2006 | Entered into Steel UK Ltd (50%) joint venture with Sheffield based steel stockholder Murray Metals Group Ltd to negotiate steel purchase prices for both partners [41] [42] |
Patented craned or self climbing work platform that attaches to steelwork at height. [43] | |
2007 | Ballinamallard based structural steel contractor Fisher Engineering Ltd purchased for £90 million in shares and cash. [44] [1] |
2008 | Severfield Reeve Projects Ltd launches property investment division. [45] |
2010 | JSW Severfield Structures Ltd (50%) joint venture opened in Mumbai. Remainder of the structural steel firm held by JSW Group. [1] [46] |
2014 | JSW Structural Metal Decking Ltd (33%) joint venture opened in Mumbai. [47] [lower-alpha 6] |
2015 | Mamhilad based cold rolled structural steel manufacturer Composite Metal Forming Ltd purchased (50%) for a minimum initial cost of £4.1 million, potentially rising to £6.6 million. [6] [49] [lower-alpha 7] |
2019 | Bolton based nuclear and infrastructure structural steel business Harry Peers & Co Ltd purchased for a minimum initial cost of £18 million, potentially rising to £25 million. [1] [51] [lower-alpha 8] |
Severfield's products and process division begins to market former products of the closed Shepherd Building Group Engineering Division. [6] [53] [54] [lower-alpha 9] | |
2021 | Bridlington based support structure and railway steelwork contractor, DAM Structures Ltd purchased for a minimum initial cost of £12 million, potentially rising to £27 million. [1] [63] [lower-alpha 8] |
In 1991, Severfield Reeve acquired 80% of steel trading business, Steel (UK) Ltd [19] and bought out the remaining minority shareholdings in 2009. [64] The company ceased trading in 2002; was renamed Stable Move Ltd in 2005, and dissolved in 2013 owing £1,161,732 to Severfield plc and eliminating shareholder value. [65] [66] [67]
In 2006, Severfield established Steel UK Ltd as a 50% joint venture with Sheffield based steel stockholder Murray Metals Group Ltd to negotiate steel purchase prices for both partners. [41] [42] The company had been incorporated in 2005 as Stable Move Ltd. Severfield and Murray bought steel at prices agreed with suppliers by Steel UK and the company did not trade itself. The joint venture was dissolved in 2013. [42] [68] [69]
In 1995, Severfield's meat processing safety equipment subsidiary Manabo (UK) Ltd began trading. Initially the business was a 75% joint venture with the original technology developer but in 1996, Severfield Reeve bought out all remaining minority shareholdings. The established Scandinavian distributor for Manabo's products agreed to purchase from the new company. Manabo manufactured at sites around Thirsk and, from 1997, operated a chain mail glove factory in Bataszek, Hungary. [21] [20] [28] [29]
Such was the anticipated transformation of the structural steel business that by 1997, The Times described Severfield as a specialist engineer and supplier of equipment for the meat and poultry processing industry. However, in the same year company founder John Severs blamed Manabo's six monthly £902,000 losses on the meat industry being reluctant to change its ways in health and hygiene.The glove business and company were sold in 2000 after a further £2 million loss in 1998, and asset write-down of £2.8 million in 1999. [70] [28] [71] [21]
In 1991, subsidiary Severfield Reeve Projects Ltd was incorporated, initially to carry out construction at Severfield's plants. It began to undertake main contracting for others in 1997. [72] [30]
1998 | Express Terminals Ltd (Ripon), National Tube Stockholders Ltd (Dalton) and Talking Pictures Cards Ltd (Thirsk) [73] |
---|---|
2000 | Northern headquarters for the National Crime Squad and office building at Thirsk for Teleware [74] |
2001 | Turnkey relocation for Dowding & Mills at York [75] |
2002 | Warehouse for Encore Direct Ltd in York; office in Wakefield; premises for Union Trucks, and a school for North Yorkshire County Council [76] [77] |
2006 | Thirsk Rural Business Centre (£5.2 million), and Belmont Nursing Home (£5.1 million) at Harrogate for Lincare [78] |
Severfield Reeve Projects diversified into house building in 2002, purchasing on its own account a site in Bagby for two traditional, five bedroom dwellings with 1 acre (0.40 ha) gardens. [37] [79]
In 2008, it launched a property investment division with the purchase of distribution warehouses for £7.1 million. The value of the initial investments was written down by £2.1 million in 2009. New projects and investments by Severfield Reeve Projects Ltd stopped in 2009, and it closed in 2011. [45] [80] [81] [82] [83]
In 1999, Severfield purchased 25.1% of Sheffield based design bureau Kennedy Watts Partnership Ltd for £464,000 in shares and cash. The shareholding was restructured in 2008 so that it was held through an intermediary, Last Exit Ltd. Kennedy Watts Partnership Ltd was placed into administration in 2013; into liquidation in 2014, and dissolved in 2016 with a deficit to creditors of £292,000 and elimination of all shareholder stakes. [84] [85] [86] [25]
In 2006, Severfield patented a craned or self climbing work platform that attaches to steelwork at height, and mounts its own powered cherry picker. The apparatus was invented to assist erection of steel structures where conditions are not suitable for safe operation of conventional access equipment. In 2009, the work platform project was abandoned and £2.4 million development costs written off. [43] [87]
Severfield structural, fabricated steel output, relative to capacity and UK market:
Severfield output (UK) (1,000 tons) [lower-roman 1] | Severfield capacity (UK) (1,000 tons) | Total consumed (UK) (1,000 tons) [lower-roman 2] | |
---|---|---|---|
2016 | 85 [88] | 150 [88] | 892 [89] |
2017 | 90 [88] | 150 [88] | 876 [89] |
2018 | 75 [90] | 150 [90] | 879 [89] |
2019 | 80 [91] | 150 [91] | 858 [89] |
2020 | 95 [52] | 150 [52] | 683 [89] |
2021 | 95 [52] | 165 [52] | 803 [10] |
2022 | 95 [10] | 165 [9] | 803 [10] |
2023 | 115 [7] | 150 [7] | 894 [7] |
As of 2022 [update] , the JSW Severfield Structures Ltd joint venture in India has a capacity of 100,000 tons of fabricated steel per annum. [10]
Severfield plc is headquartered on the former RAF Dalton near Thirsk and is a significant employer there. It also has sites in Sherburn, Lostock, Bolton, Bridlington, Ballinamallard, and European offices at Zevenbergen. [36] [92]
Joint ventures JSW Severfield Structures Ltd and JSW Structural Metal Decking Ltd are located in Mumbai. [36]
The Construction Metal Forming Ltd cold formed construction steel joint venture manufactures steel decking, and light gauge framing, in Mamhilad and Magor. [93] [94]
Severfield plc's RIDDOR ratios have improved, and are lower than its industry average. Senior executives are remunerated according to the accident frequency rate [lower-alpha 1] of the business units they oversee. [91] [9] [52]
Severfield AFR [lower-alpha 1] | Industry AFR [lower-alpha 2] [lower-alpha 1] | |
---|---|---|
2013 | 0.55 [97] | |
2014 | 0.57 [97] | 0.4 [98] |
2015 | 0.21 [99] | |
2016 | 0.25 [99] | |
2017 | 0.24 [100] | |
2018 | 0.22 [100] | |
2019 | 0.11 [101] | >0.3 [89] |
2020 | 0.15 [101] | 0.3 [89] |
2021 | 0.18 [9] | |
2022 | 0.16 [9] | >0.16 [9] |
2023 | 0.14 [7] | |
In January 2021, a steel erector employed by Severfield fell down a staircase at Google's Kings Cross site and was unfit to work for six days. Severfield suspected fraud and summarily dismissed him, but an Employment Tribunal determined the incident occurred; that the employee was unfairly dismissed, and awarded £2,721 in compensation. There was no order for payment in lieu of notice because, post dismissal, the erector took immediate, better remunerated employment elsewhere. [102]
In March 2020, Severfield was served a Health and Safety Executive Improvement Notice, because of hazardous welding fumes at its Lostock works. The fault was corrected by April 2020. [103]
In 2019, a link weld in the chain set being used to lift a 2.5 ton beam failed, although rated to over twice that capacity. The lifting equipment had recently been independently inspected. Similar sets from the Turkey based manufacturer were withdrawn from use and allegedly exhibited faulty welds. The beam was partially bolted in place so did not fall. [104]
During 2017 redevelopment of 22 Bishopsgate, a suspended girder struck Leadenhall Tower. Severfield was the steel frame subcontractor to Multiplex's Bishopsgate site. Nobody was hurt. [105]
In November 2017, Severfield was served a Health and Safety Executive Improvement Notice, because of tools causing excessive hand arm vibrations, at its Dalton site. New working practices were applied by March 2018. [106]
In 2016, the Health and Safety Executive fined the firm £135,000, plus £46,020 costs following a 2013 incident when a 27 year old forklift driver was fatally crushed at its Dalton site. [107] [108] [109]
In 2015, Severfield and its haulage contractors adopted customised trailers for delivering fabricated steel to construction sites. They are fitted with exclusion barriers to prevent unauthorised access whilst unloading by forklift, and fall arrest equipment to protect riggers on the trailer when unloading by crane. [110] [111] [112]
In November 2014, two embrittled bolts, purchased from a supplier, broke and fell from Leadenhall Tower. Another descended in January 2015. Severfield announced an anticipated £6 million charge for bolt remediation works in 2015, and final settlement in 2019. [113] [114]
In 2012, Severfield settled the claim from a welder who had been moving steelwork with a crane and faulty plate clamp. A ten foot long, and two foot wide, beam fell and crushed his foot. [115]
In 2011, a plater at Severfield's Dalton facility suffered permanent damage to his hands caused by vibrating tools provided by the firm. He developed hand arm vibration syndrome commonly known as white finger. [116]
Severfield subsidiary Watson Steel Structures Ltd fabricated the Clyde Arc Bridge in 2007. It had to be closed in 2008 because a clevis connector failed and a 35 metre long tension bar fell onto the carriageway. Another clevis was found to be cracked and it was decided to replace all 14 tension bars in the structure. Watson Steel Structures Ltd claimed £1.8 million from Macalloy, the clevis supplier, alleging its product was faulty. Macalloy denied the claim and countered Watson Steel Structures Ltd had only specified minimum yield stress for the components. [117] [118] [119]
In 2005 Severfield dismissed a painter, at its newly acquired Sherburn site, who suffered allergic industrial contact dermatitis following exposure to epoxy resin paint. He claimed compensation. Severfield initially denied, but then accepted responsibility just before the 2007 High Court hearing. Mr Recorder Salter went on to award the painter £113,168.15 damages including £50,000 for loss of future earnings. The firm appealed but in 2008, Lord Justice Keene's judgement rejected its arguments and increased the award for future earnings loss to £90,000. [120] [121] [122]
In 2002, a 29 year old steel fixer working for Severfield's Steelcraft Erection Services Ltd fell from a new Sainsbury's distribution centre, and suffered spinal injuries; broken ribs, and a punctured lung. [123]
The Guardian reported in September 2022 that Severfield had been impacted by cancelled and delayed works at Britishvolt's challenged Blyth gigafactory. It declined comment to the newspaper. [147]
In 2022, Severfield issued a legal claim against Davymarkham Ltd relating to 2015 bridgeworks over the Manchester Ship Canal. Davymarkham Ltd had been dissolved in 2021, but was restored by court order to face proceedings alongside its insurers and Fairfield Engineering Solutions Ltd. [148] [149] [150]
In July 2019, subsidiary Severfield Design and Build Ltd was suspended from the UK Government's Prompt Payment Code for failing to pay suppliers on time. The firm submitted an action plan to the Chartered Institute of Credit Management and was reinstated by November 2019. [151] [152]
In 2013, Severfield contracted with the Duro Felguera group to provide steelwork for the new Carrington Power Station. Duro Felguera's UK subsidiary refused to pay a December 2014 stage payment. Severfield obtained adjudication under the Housing Grants, Construction and Regeneration Act 1996 for £2,470,231.97, and then sought summary judgement from the High Court of Justice to enforce payment for a reduced amount of £1,445,495.78. Judge Stuart-Smith refused because part of the sum related to a power plant and was therefore excluded from the 1996 Act, and the adjudicator's jurisdiction. Duro Felguera argued it was in fact owed money by Severfield because of overpayments. [153]
Severfield finally obtained a judgement from Mr Justice Coulson in 2017 for £2,774,077.91 (or £1,760,480.27 up to 2014) but by then Duro Felguera UK Ltd had entered liquidation and recovery was limited to what Duro Felguera in Spain could be obliged to pay under a parent company guarantee for the period up to 2014. [154]
During 2013, the group acknowledged substantial contractual losses in relation to Leadenhall Tower in the City of London. This prompted a major restructuring of the business; departure of the Chief Executive, and a £45m rights issue. [155] [156] [157]
Severfield's 2012 accounts included a £9.9 million charge for losses at Leadenhall Tower, plus a further £10.2 million on other delinquent contracts. [158]
In 2011, the Daily Mirror alleged the retractable roof over Wimbledon Centre Court leaked during a quarter final tennis match. Severfield completed the 3,000 ton moving roof in 2009. The All England Club stated the leaks were in the permanent roof, not the mobile section, and were "part of the normal drainage process". [159] [10]
In 2011, Severfield decided to reduce the number of welders at its Sherburn site by selectively not renewing the contract of an employee who was caring for his disabled wife. He claimed discrimination by association. Severfield could not satisfy the employment tribunal there was any other reason for the dismissal and the welder was awarded £10,500 compensation with a recommendation he should be re-employed. [160]
Shareholders rebelled against a 2007 payment of £1.6 million to retiring Managing Director, John Severs. They refused to pass a resolution at AGM to authorise the payment which had already been made. [161]
In 2001, directors of the company, including John Severs, purchased the headquarters property for £14 million. In 2007 the company bought it back again for £23.5 million. Both transactions were endorsed by the independent directors. [44]
In 1989, a subsidiary of Georg Fischer AG built a distribution warehouse near Coventry. The shallow pitch roof leaked, exacerbated by deflection of supporting steelwork. It sued the builders and designer. Severfield-Reeve plc was the steelwork subcontractor and met specifications supplied to it by the designer. In 1994, Severfield-Reeve plc agreed to pay £175,000 to the building owner in return for an indemnity against all parties in the matter. [162]
In 2009, Severfield became third party in a claim relating to the leaking roof at a potato processing plant in Airdrie constructed by its then subsidiary Atlas Ward Structures. Severfield agreed joint liability with the building's main contractors. Lord Menzies in the Outer House of the Court of Session was asked to choose between remediation options for the Airdrie premises, the alternatives differing in cost and quantum of damages. He drew attention to the similar decision that had faced Judge Hicks in the Fischer warehouse case. [163]
Harland & Wolff is a British shipbuilding and fabrication company headquartered in London with sites in Belfast, Arnish, Appledore and Methil. It specialises in ship repair, shipbuilding and offshore construction. Harland & Wolff is famous for having built the majority of the ocean liners for the White Star Line, including Olympic-class trio – RMS Olympic, RMS Titanic and HMHS Britannic. Outside of White Star Line, other ships that have been built include the Royal Navy's HMS Belfast; Royal Mail Line's Andes; Shaw, Savill & Albion's Southern Cross; Union-Castle's RMS Pendennis Castle; P&O's Canberra; and Hamburg-America's SS Amerika of 1905. Harland and Wolff's official history, Shipbuilders to the World, was published in 1986.
HandMade Films was a British film production and distribution company. Notable films from the studio include Monty Python's Life of Brian, Time Bandits, The Long Good Friday and Withnail and I.
Tata Steel Limited is an Indian multinational steel-making company, based in Jamshedpur, Jharkhand and headquartered in Mumbai, Maharashtra. It is a part of the Tata Group.
Tata Steel Europe Ltd. was a steelmaking company headquartered in London, England, with its main operations in the United Kingdom and the Netherlands. The company was created in 2007, when Tata Group took over the British-Dutch Corus Group.
Renishaw plc is a British engineering company based in Wotton-under-Edge, England. The company's products include coordinate-measuring machines and machine tool products. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Norman Roy Blackwell, Baron Blackwell is a British former businessman, public servant, Conservative politician, campaigner and policy advisor.
GlobalData Plc is a data analytics and consulting company, headquartered in London, England. The company was established in 1999, and, under different names, has been listed on the London Stock Exchange's Alternative Investment Market (AIM) since 2000. It was previously called Progressive Digital Media and, before that, the TMN Group. GlobalData employs over 3,000 personnel in offices across the UK, US, Argentina, South Korea, Mexico, China, Japan, India and Australia. It has an R&D centre in India. The group is chaired by Murray Legg, a former partner at PwC. Mike Danson, one of the founders of Datamonitor, is CEO.
Cleveland Bridge & Engineering Company was a British bridge works and structural steel contractor based in Darlington. It was operational for 144 years.
Connaught plc was a company in the United Kingdom, operating in the social housing, public sector and compliance markets. A constituent of the FTSE 250 Index, it went into administration in October 2010.
Sajjan Jindal is an Indian billionaire industrialist. He is the chairman and managing director of JSW Group of companies; diversified in steel, mining, energy, sports, infrastructure and, software business.
JSW Steel Limited is an Indian multinational steel producer based in Mumbai and is a flagship company of the JSW Group. After the merger of Bhushan Power & Steel, Ispat Steel and Jindal Vijayanagar Steel Limited, JSW Steel became India's second largest private sector steel company.
JSW Group is an Indian multinational conglomerate, based in Mumbai. It is led by Sajjan Jindal and is part of the O.P. Jindal Group. The group's diverse businesses include steel, energy, infrastructure, cement, automotive and paints, across India, the United States, South America, and Africa.
Goodwin plc is a heavy engineering firm located in Stoke-on-Trent, Staffordshire, England. The company, which specialises in the supply and fabrication of castings, is listed on the London Stock Exchange. It is a constituent of the FTSE 250 Index.
BCSA Ltd is a trade association for the structural steel industry in the UK and Ireland. It lobbies on behalf of its members, and provides them with education and technical services.
Rowecord Engineering Ltd was a Welsh structural steel contractor that specialised in sports facilities, footbridges, and heavy industry. Landmark works include the Olympic Aquatics Centre roof, Mary Rose Museum, Cardiff City Stadium, Liberty Stadium and Newport City footbridge.
Safestore is the UK’s largest and Europe’s second largest provider of self-storage. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Restore plc is a company incorporated in England and Wales. The main country of operation is the United Kingdom. It is an AIM-listed support services company and has two divisions: Document Management and Relocation .Since 2010, it has expanded through the acquisition and is now driving abroad based high growth strategy based on organic growth, acquisitions and margin expansion, with the most recent large acquisitions in 2021 of Computer Disposals Ltd and EDM.
John McDonough was a British businessman who was CEO of Carillion from January 2001 to December 2011.
McCalls Special Products Ltd is a British manufacturer of steel bar and cable components for tensioned concrete, ground anchors, curtain walling, and steel structures. It operates under the Macalloy brand and claims to be a world leader in that market.
William Hare Group Ltd is a UK headquartered structural steel contractor and the second largest, by turnover, in the country. It is family owned and has carried out projects in over fifty countries. Landmark works include structural steelwork for 20 Fenchurch Street and 201 Bishopsgate in London, and the Aldar Headquarters and Al Bahr Towers in Abu Dhabi.