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TI Group
Former type Public
Fate Acquired
Successor Smiths Group
Founded 1919
Defunct 2000
Headquarters Abingdon, UK
Key people Lord Plowden, (Chairman)
Industry Engineering

TI Group plc (formerly Tube Investments) was a holding company for various specialised engineering companies. It was based in Abingdon in Oxfordshire. It was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index but it was acquired by Smiths Group in 2000.

Contents

History

The Company was registered as Tube Investments in 1919 combining the seamless steel tube businesses of Tubes Limited, New Credenda Tube (later known as Creda), Simplex and Accles & Pollock.[1] In 1928 Reynolds Tube joined the Group.

In 1928 Ivan Stedeford joined the Company: he became Chief Executive in 1935 and Chairman in 1944. In 1946, the Company bought Swallow Coachbuilding Co. (1935) Ltd.

In 1946 The British Cycle Corporation subsidiary was formed which eventually composed of the following cycle companies:[2] Phillips Cycles, Hercules Cycles (No connection with the German Hercules company), Armstrong, Rudge-Whitworth, Norman Cycles and Sun Cycles.

The period 1958/9 saw the Aluminium War when the Company fought a fierce and ultimately successful battle to acquire British Aluminium.[3]

In 1960 Raleigh Industries joined the group bringing with it BSA Cycles and J. B. Brookes.[4]

In 1963 the Company bought Russell Hobbs, kettle manufacturers and Sir Ivan Stedeford GBE retired as Chairman and CEO and assumed the title of Life President.

Alfred Herbert Ltd was purchased in 1982.[5]

In 1987 Raleigh was sold to Derby International[6] and Creda was sold to GEC.[7]

Dowty Group was purchased in 1992[8] and in 1996 Accles & Pollock was sold to Hay Hall Group.[1]

On 18 September 2000 Smiths Group announced its intention to merge with TI Group.[9] The merger was completed on 4 December 2000. Smiths divested TI's automotive business shortly after the merger.[10]

Operations

The three major divisions were John Crane International, a manufacturer of mechanical seals, Bundy Corporation, a tubing manufacturer and supplier to the refrigeration and automotive industries, and Dowty Group plc, an aerospace company.[11] The Group also owned TI Creda, a manufacturer of domestic cookers. It also owned TI Chesterfield Cylinders, a manufacturer of pressurised gas cylinders for companies such as BOC and Air Products: the business was sold and the factory relocated from Chesterfield to Sheffield.[12]

References

External links

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