Redman Heenan International
1968 Merger of Redman Tools and Heenan Group by one-for-one share offer for Heenan by Redman forming Redman Heenan International.
1969 Acquired Fisholow Products of Coseley, makers of materials handing equipment, from British Leyland Motor Corporation
Substantial expansion of subsidiary Fielding and Platt of Gloucester.
1970 Court Works was one of the few parts of the group that was making a loss, due to commitments under some old contracts.
Large losses incurred on an East European contract
1971 Accounting irregularities found at Redman Broughton, which had joined the group in 1966; the King's Norton factory was closed and all work moved to the other Broughton factory at Hockley
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
1972 Sold Arsmtrong Stevens to Warne Wright
1972 Newman Industries purchased Court Works from Redman Heenan International and subsequently transferred it to H. W. Lindop.
1972 Sold Freeman, Taylor Machines to Frank Lewis (London). Redman Heenan Froude installed its first furnace specifically designed for disposal of tyres at Goodyear's plant in Wolverhampton.
By the end of the year the company was breaking-even
1974 The outlook seemed to be improving:
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