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Stemcor
Stemcor is a British steel trading and distribution company. The company acts as an intermediary between buyers and sellers of steel and raw materials. It provides additional services, including logistics, price risk management and inventory management. It is one of the world's largest independent steel traders and operates in 45 countries. As of 2012, the company's turnover exceeded £5 billion. However, since then, the company has undergone a number of restructurings after the company built up large debts and defaulted on an $850 million debt. The largest shareholder of Stemcor is US distressed investment fund Apollo Global Management. History Stemcor was founded in 1951 as the London subsidiary of German trading company Coutinho, Caro & Co. The company was founded by Herbert Coutinho and German immigrant Hans Oppenheimer, each taking half a stake in the business. Coutinho's stake was acquired by US construction group McDermott International, then J McDermott, in 1984. In 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stemcor Logo
Stemcor is a British steel trading and distribution company. The company acts as an intermediary between buyers and sellers of steel and raw materials. It provides additional services, including logistics, price risk management and inventory management. It is one of the world's largest independent steel traders and operates in 45 countries. As of 2012, the company's turnover exceeded £5 billion. However, since then, the company has undergone a number of restructurings after the company built up large debts and defaulted on an $850 million debt. The largest shareholder of Stemcor is US distressed investment fund Apollo Global Management. History Stemcor was founded in 1951 as the London subsidiary of German trading company Coutinho, Caro & Co. The company was founded by Herbert Coutinho and German immigrant Hans Oppenheimer, each taking half a stake in the business. Coutinho's stake was acquired by US construction group McDermott International, then J McDermott, in 1984. In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Margaret Hodge
Dame Margaret Eve Hodge, Lady Hodge, (née Oppenheimer, formerly Watson; born 8 September 1944) is a British politician serving as the Member of Parliament (MP) for Barking since 1994. A member of the Labour Party, she previously served as Leader of Islington London Borough Council from 1982 to 1992. She has held a number of ministerial roles and served as Chair of the Public Accounts Committee from 2010 to 2015.Polly Curti"Margaret Hodge named head of public accounts committee", ''The Guardian'', 10 June 2015 Hodge is the daughter of the co-founder of steel firm Stemcor and remains a major shareholder. She was a councillor on Islington Council from 1973 to 1994, was chair of the Housing Committee, and then Council Leader from 1982 to 1992. Hodge later apologised for failing to ensure that allegations of serious child abuse in council-run homes were sufficiently investigated and for libelling a complainant. Hodge was elected to parliament in a 1994 by-election. She was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
McDermott International
McDermott International, Ltd is a global provider of engineering and construction solutions to the energy industry. Operating in over 54 countries, McDermott has more than 40,000 employees, as well as a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. Incorporated in Bermuda, it is headquartered in the Energy Corridor area of Houston, Texas. History 1923–2000 In 1923, Ralph Thomas McDermott established J. Ray McDermott & Company Incorporated at the age of 24 upon receipt of a contract to build 50 wooden drilling rigs for a wildcatter in Luling, Texas. Knowing he could benefit from his father's long-time experience in the lumber and oilfield construction businesses, Ralph made John Raymond McDermott a partner and the company's namesake. In 1930, it expanded the business from its original headquarters in Eastland, Texas, to Luling after a boom in oil exploration in the area. In 1932, the company moved to Houston, Texas w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Companies Established In 1951
British may refer to: Peoples, culture, and language * British people, nationals or natives of the United Kingdom, British Overseas Territories, and Crown Dependencies. ** Britishness, the British identity and common culture * British English, the English language as spoken and written in the United Kingdom or, more broadly, throughout the British Isles * Celtic Britons, an ancient ethno-linguistic group * Brittonic languages, a branch of the Insular Celtic language family (formerly called British) ** Common Brittonic, an ancient language Other uses *''Brit(ish)'', a 2018 memoir by Afua Hirsch *People or things associated with: ** Great Britain, an island ** United Kingdom, a sovereign state ** Kingdom of Great Britain (1707–1800) ** United Kingdom of Great Britain and Ireland (1801–1922) See also * Terminology of the British Isles * Alternative names for the British * English (other) * Britannic (other) * British Isles * Brit (other) * Briton (d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies Based In The London Borough Of Islington
A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Companies take various forms, such as: * voluntary associations, which may include nonprofit organizations * business entities, whose aim is generating profit * financial entities and banks * programs or educational institutions A company can be created as a legal person so that the company itself has limited liability as members perform or fail to discharge their duty according to the publicly declared incorporation, or published policy. When a company closes, it may need to be liquidated to avoid further legal obligations. Companies may associate and collectively register themselves as new companies; the resulting entities are often known as corporate groups. Meanings and definitions A company can be defined as an "artificial per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Steel Companies Of The United Kingdom
Steel is an alloy made up of iron with added carbon to improve its strength and fracture resistance compared to other forms of iron. Many other elements may be present or added. Stainless steels that are corrosion- and oxidation-resistant typically need an additional 11% chromium. Because of its high tensile strength and low cost, steel is used in buildings, infrastructure, tools, ships, trains, cars, machines, Home appliance, electrical appliances, weapons, and rockets. Iron is the base metal of steel. Depending on the temperature, it can take two crystalline forms (allotropic forms): Cubic crystal system, body-centred cubic and face-centred cubic. The interaction of the allotropes of iron with the alloying elements, primarily carbon, gives steel and cast iron their range of unique properties. In pure iron, the crystal lattice, crystal structure has relatively little resistance to the iron atoms slipping past one another, and so pure iron is quite ductility, ductile, or soft ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Saint Helier
St Helier (; Jèrriais: ; french: Saint-Hélier) is one of the twelve parishes of Jersey, the largest of the Channel Islands in the English Channel. St Helier has a population of 35,822 – over one-third of the total population of Jersey – and is the Capital city, capital of the island. The town of St Helier is the largest settlement and only town of Jersey. The town consists of the built-up areas of St Helier, including First Tower, and parts of the parishes of Saint Saviour, Jersey, St Saviour and Saint Clement, Jersey, St Clement, with further suburbs in surrounding parishes. The greater part of St Helier is rural. The parish covers a surface area of , being 9% of the total land area of the island (this includes Land reclamation, reclaimed land area of or 200 hectare, ha). The growth of the town has been described as "spasmodic", its expansion reflecting waves of migration to the island. The parish arms are two crossed gold axes on a blue background, the blue symbol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debt-to-equity Swap
Debt restructuring is a process that allows a private or public company or a sovereign entity facing cash flow problems and financial distress to reduce and renegotiate its delinquent debts to improve or restore liquidity so that it can continue its operations. Replacement of old debt by new debt when not under financial distress is called "refinancing". Out-of-court restructurings, also known as s, are increasingly becoming a global reality. Motivation Debt restructuring involves a reduction of debt and an extension of payment terms and is usually less expensive than bankruptcy. The main costs associated with debt restructuring are the time and effort spent negotiating with bankers, creditors, vendors, and tax authorities. In the United States, small business bankruptcy filings cost at least $50,000 in legal and court fees, and filing costs in excess of $100,000 are common. By some measures, only 20% of firms survive Chapter 11 bankruptcy filings. Historically, debt restruct ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mergers And Acquisitions
Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization. As an aspect of strategic management, M&A can allow enterprises to grow or downsize, and change the nature of their business or competitive position. Technically, a is a legal consolidation of two business entities into one, whereas an occurs when one entity takes ownership of another entity's share capital, equity interests or assets. A deal may be euphemistically called a ''merger of equals'' if both CEOs agree that joining together is in the best interest of both of their companies. From a legal and financial point of view, both mergers and acquisitions generally result in the consolidation of assets and liabilities under one entity, and the distinction between the two is not always clear. In most countries, mergers and acquisitions must co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
London
London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a major settlement for two millennia. The City of London, its ancient core and financial centre, was founded by the Romans as '' Londinium'' and retains its medieval boundaries.See also: Independent city § National capitals The City of Westminster, to the west of the City of London, has for centuries hosted the national government and parliament. Since the 19th century, the name "London" has also referred to the metropolis around this core, historically split between the counties of Middlesex, Essex, Surrey, Kent, and Hertfordshire, which largely comprises Greater London, governed by the Greater London Authority.The Greater London Authority consists of the Mayor of London and the London Assembly. The London Mayor is distinguished fr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subsidiary
A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a same management being substantially controlled by same entity/group are called sister companies. The subsidiary can be a company (usually with limited liability) and may be a government- or state-owned enterprise. They are a common feature of modern business life, and most multinational corporations organize their operations in this way. Examples of holding companies are Berkshire Hathaway, Jefferies Financial Group, The Walt Disney Company, Warner Bros. Discovery, or Citigroup; as well as more focused companies such as IBM, Xerox, and Microsoft. These, and others, organize their businesses into national and functional subsidiaries, often with multiple levels of subsidiaries. Details Subsidiaries are separate, distinct legal entities f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
