Mattr
 | |
| Formerly | Shawcor Ltd. |
|---|---|
| Type | Public |
| TSX: MATR | |
| Industry | Oil & Gas Equipment Services |
| Headquarters | Toronto, Ontario, Canada Houston, Texas, United States |
Area served | Worldwide |
Key people | Kevin Nugent (Chairman) Mike Reeves (CEO) Tom Holloway (CFO) |
| Products | Spoolable Composite Pipes, Underground Storage Tanks, Wire and Cable, Heat Shrinkable Tubes |
Number of employees | 6,000 – November 2017 |
| Website | www |
Mattr Corp., formerly known as Shawcor Ltd., is a Canadian materials technology company, based in Toronto, Ontario, and listed on the Toronto Stock Exchange.[1] [2] In 2017, it had a revenue of $1.56 billion.[3] It was founded by Francis Shaw, the father of the founder of Shaw Communications, and there was substantial ownership in both companies by the Shaw family for many years.[4]
History
[edit]Shawcor was founded by Francis Shaw in rural Lambton County.[5] It was originally a construction company, but later expanded into pipeline coatings, cable television, and numerous other businesses. In the 1970s, the business was split between Francis's sons Leslie and JR Shaw; Leslie inherited the pipeline services business, which became the current Shawcor, while JR Shaw inherited the western cable business, which became Shaw Communications.[5] Under Leslie's leadership, the company grew significantly; by 2002, it had a market capitalization of $1 billion, and 43 plants in 20 countries.[4] Around that time, Leslie ceded his leadership of the business to his daughter, Virginia Shaw.[6]
In 2012, Shawcor suggested that it might consider putting itself up for sale.[2] At the time, the company had a market capitalization of about $3 billion. The company eventually decided not to sell, causing to share price to fall 15%.[7] In 2013, it eliminated its dual class share structure, under which the Shaw family controlled the majority of voting shares.[8]
Operations
[edit]Shawcor operates through 2 Segments: Composite Technologies (Flexpipe and Xerxes) and Connection Technologies (AmerCable, DSG Canusa and Shawflex).[9] It has about 100 manufacturing and service facilities and sales offices and 6000 employees in 25 countries.[9]
The previous pipe coating solutions division - which was the largest division in the company until its sale to Tenaris at the end of 2023 - was formerly part of Halliburton. At that time, it was named Bredero Price. Shawcor acquired the portion of the division it did not already own for $200 million in 2002.[10]
See also
[edit]References
[edit]- ↑ "Shawcor Rebrands to Mattr, a Materials Technology Company Serving Critical Infrastructure Markets Globally". Financial Post. 2023-06-07. Retrieved 2023-06-07.
- 1 2 "ShawCor sale will draw big crowd, high price". The Globe and Mail. 2012-09-06. Retrieved 2018-08-19.
- ↑ "Shawcor 2017 Annual Report" (PDF). investors.shawcor.com. Archived from the original (PDF) on 2018-08-20.
- 1 2 "ShawCor boss's hands-off approach to energy firm leaves time for golf". The Globe and Mail. 2002-10-20. Retrieved 2018-08-19.
- 1 2 "Shaw business dynasty began in rural Lambton County". Wallaceburg Courier Press. 2016-01-14. Retrieved 2018-08-19.
- ↑ "ShawCor boss's hands-off approach to energy firm leaves time for golf". Retrieved 2021-09-02.
- ↑ "ShawCor falls as sale considered 'highly unlikely'". Financial Post. 2012-12-04. Retrieved 2018-08-19.
- ↑ "ShawCor to eliminate dual share structure". The Globe and Mail. 2013-01-14. Retrieved 2018-08-19.
- 1 2 "Archived copy" (PDF). Archived from the original (PDF) on 2018-12-09.
{{cite web}}: CS1 maint: archived copy as title (link) - ↑ "ShawCor taking over all of Bredero-Shaw". The Globe and Mail. 2002-07-23. Retrieved 2018-08-19.