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TI Group plc (formerly "Tube Investments") was a holding company for specialised
engineering Engineering is the use of scientific principles to design and build machines, structures, and other items, including bridges, tunnels, roads, vehicles, and buildings. The discipline of engineering encompasses a broad range of more speciali ...
companies. It was based in
Abingdon, Oxfordshire Abingdon-on-Thames ( ), commonly known as Abingdon, is a historic market town and civil parish in the ceremonial county of Oxfordshire, England, on the River Thames. Historically the county town of Berkshire, since 1974 Abingdon has been admin ...
. It was registered as ''Tube Investments'' in 1919, combining the seamless steel tube businesses of Tubes Ltd, New Credenda Tube (later known as Creda), Simplex and Accles & Pollock. Reynolds Tube joined the group in 1928. Tube Investments was listed on the
London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St P ...
, and was a constituent of the FTSE 100 Index. It was acquired by Smiths Industries in the end of 2000.


History

The company was registered as ''Tube Investments'' in 1919, combining the seamless steel tube businesses of Tubes Ltd, New Credenda Tube (later known as Creda), Simplex and Accles & Pollock. Reynolds Tube joined the group in 1928.
Ivan Stedeford Sir Ivan Arthur Rice Stedeford GBE, (28 January 18979 February 1975) was a British industrialist and philanthropist. Stedeford was chairman and managing director of Tube Investments (T.I.) and one of Britain's leading 20th-century industrial ...
joined the company in 1928. He became
chief executive A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...
in 1935, and chairman in 1944. In 1946, the company bought Swallow Coachbuilding Co. (1935) Ltd. and
Hercules Cycles The Hercules Cycle and Motor Company Limited was a British bicycle manufacturer founded on 9 September 1910 in Aston in England.Company registration 111679: Companies House – http://www.companieshouse.gov.uk/ The name Hercules was chosen for ...
. In 1949, the company established TI Cycles of India as a
joint venture A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and economic risk, risks, and shared governance. Companies typically pursue joint ventures for one of four rea ...
with the
Murugappa family The Murugappa family is an Indian Nagarathar ( Nattukottai Chettiar) family that owns and manages the Murugappa Group Murugappa Group is an Indian conglomerate founded in 1900. The Group has 28 businesses including nine companies listed on th ...
. The British Cycle Corporation subsidiary was formed in 1956, and consisted of Armstrong,
Norman Cycles Norman Cycles was a British bicycle, autocycle, moped, and motorcycle manufacturer in Ashford, Kent, England. The company and its products are remembered today by the Norman Cycles Club at Willesborough Windmill, in Willesborough, Ashford. T ...
, Sun Cycles,
Phillips Cycles Phillips Cycles Ltd. was a British bicycle manufacturer based in Smethwick near Birmingham, England. Its history began early in the 20th century and ended in the 1980s by which time it had become part of Raleigh Industries, itself a par ...
and Hercules Cycles (no connection with the German Hercules company). TI subsidiary Swallow Coachbuilding Co. constructed the Swallow Doretti sports car in 1954 and 1955. The 'Aluminium War' from 1958 to 1959 was a fierce and successful battle to acquire
British Aluminium British Aluminium was an aluminium production company. It was originally formed as the British Aluminium Company Ltd on 7 May 1894 and was subsequently known as British Alcan Aluminium plc (1982-1996). History In the late 1880s and early 1890s, ...
. Raleigh Industries were acquired in 1960, bringing the Raleigh owned brands BSA Cycles, Humber, Triumph, Rudge, New Hudson, Sunbeam Three Spires and J. B. Brooks. The company bought kettle manufacturers
Russell Hobbs Russell Hobbs is a British manufacturer of household appliances. Formed in 1952 by William Russell and Peter Hobbs, it became the primary kettle maker in the United Kingdom marketplace in the 1960s. Subjected to many corporate acquisitions thr ...
in 1963, and Sir Ivan Stedeford retired as chairman and chief executive officer and became life president. The group bought Alfred Herbert Ltd in 1982. In 1986, Tube Investments acquired Houdaille, parent of John Crane and other industrial companies from
Kohlberg Kravis Roberts KKR & Co. Inc., also known as Kohlberg Kravis Roberts & Co., is an American global investment company that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strate ...
; the non Crane divisions were sold back to KKR as IDEX. Tube Investments acquired Armco Inc.'s European Tubing business – Fulton (UK) and Bundy Corporation (USA) in 1987; Raleigh was sold that year to Derby International and Creda to GEC. TI Group bought Huron Products Industries (USA) in 1991, and
Dowty Group Dowty Group was a leading British manufacturer of aircraft equipment. It was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index. The firm ceased operating as an individual entity following its acquisition by T ...
in 1992, and sold Accles & Pollock to Hay Hall Group in 1996. Over the next few years, the Group acquired Technoflow Tube Systems (Germany), Bundy Asia Pacific, S&H Fabricating and Engineering (USA), Kenmore Italiana (Italy), Walbro Corporation (USA), and Marwal (France). On 4 December 2000, Smiths Industries merged with TI Group. Smiths (thereafter renamed Smiths Group) divested TI Automotive shortly after the merger was completed.


Operations

The three major divisions were: * John Crane International, manufacturer of mechanical seals, *Bundy Corporation, a tubing manufacturer and supplier to the refrigeration and automotive industries, and *
Dowty Group Dowty Group was a leading British manufacturer of aircraft equipment. It was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index. The firm ceased operating as an individual entity following its acquisition by T ...
, an
aerospace Aerospace is a term used to collectively refer to the atmosphere and outer space. Aerospace activity is very diverse, with a multitude of commercial, industrial and military applications. Aerospace engineering consists of aeronautics and astr ...
company. The group also owned TI Creda, a manufacturer of domestic cookers, and owned TI Chesterfield Cylinders, a manufacturer of pressurised gas cylinders for companies such as BOC and
Air Products and Chemicals Air Products and Chemicals, Inc. is an American international corporation whose principal business is selling gases and chemicals for industrial uses. Air Products' headquarters is in Allentown, Pennsylvania, in the Lehigh Valley region of Pen ...
: the business was sold and the factory moved from Chesterfield to
Sheffield Sheffield is a city in South Yorkshire, England, whose name derives from the River Sheaf which runs through it. The city serves as the administrative centre of the City of Sheffield. It is historically part of the West Riding of Yorkshire a ...
.


References


External links


History of the TI Group, from the company's former website on the Internet Archive
{{Authority control Defunct companies of the United Kingdom Engineering companies of the United Kingdom Cycle manufacturers of the United Kingdom Holding companies established in 1919 Companies based in Oxfordshire Companies formerly listed on the London Stock Exchange Steel companies of the United Kingdom Technology companies established in 1919 1919 establishments in England Technology companies disestablished in 2000 2000 disestablishments in England Holding companies disestablished in 2000