Redman Heenan International
1968 Merger of Redman Tools and Heenan Group by one-for-one share offer for Heenan by Redman[1] forming Redman Heenan International.
1969 Acquired Fisholow Products of Coseley, makers of materials handing equipment, from British Leyland Motor Corporation[2]
Substantial expansion of subsidiary Fielding and Platt of Gloucester[3].
1970 Court Works was one of the few parts of the group that was making a loss, due to commitments under some old contracts.[4]
Large losses incurred on an East European contract
1971 Accounting irregularities found at Redman Broughton, which had joined the group in 1966[5]; the King's Norton factory was closed and all work moved to the other Broughton factory at Hockley[6]
The financial losses at the company led to a change of senior management; the new MD found a lack of corporate and financial control, with the 20 subsidiaries each having to find their own way independently; drastic action was taken to redress the situation. The company was reformed into 4 operating divisions and a divestment division[7]
1972 Sold Arsmtrong Stevens to Warne Wright[8]
1972 Newman Industries purchased Court Works from Redman Heenan International and subsequently transferred it to H. W. Lindop[9].
1972 Sold Freeman, Taylor Machines to Frank Lewis (London)[10]. Redman Heenan Froude installed its first furnace specifically designed for disposal of tyres at Goodyear's plant in Wolverhampton[11].
By the end of the year the company was breaking-even[12]
1974 The outlook seemed to be improving[13]:
- Redman Heenan Froude at Worcester, made engineering products
- Fielding and Platt at Gloucester, made aluminium extrusion presses, concrete presses and Redman bumper-bar forming machines
- Redman Heenan Process Engineering at Tipton, designed coil-coating plant
- Redman Fisher Engineering at Tipton
See Also
Sources of Information
- ↑ The Times, 30 July 1968
- ↑ The Times (London, England), Thursday, Apr 24, 1969
- ↑ The Times, Oct 01, 1969
- ↑ The Times, Feb 14, 1970
- ↑ The Times, Jan 16, 1971
- ↑ The Times, Jan 28, 1971
- ↑ The Times (London, England), Monday, Nov 06, 1972
- ↑ The Times, Jan 13, 1972
- ↑ The Times, 14 April 1973
- ↑ The Times Jul 04, 1972
- ↑ The Times, Aug 23, 1972
- ↑ The Times, Dec 29, 1972
- ↑ The Times, Jan 15, 1974