Company Profile For Charter International Plc

Charter International plc owns two international engineering businesses, one focused on welding, cutting and automation (ESAB), and the other on air and gas handling (Howden). ESAB is a manufacturer and supplier of welding consumables and equipment, and cutting and automation solutions. ESAB’s range of welding consumables includes electrodes, cored and solid wires, and fluxes. ESAB’s welding equipment ranges from small retail applications and users to large plant in the energy and shipbuilding sectors. Howden is an international applications engineer. It designs, manufactures, installs and services air and gas handling equipment for use in the power, oil and gas, petrochemical and other industries. Howden’s core products include centrifugal and axial fans, air and gas rotary preheaters and compressors. On August 22, 2008, Howden acquired Aeolus Industria e Comercio Ltda (Aeolus).

BRIEF: For the six months ended 30 June 2009, Charter International plc's revenues decreased 6% to £846.2M. Net income decreased 69% to £24.4M. Revenues reflect a decrease in the sale of Welding segment. Net income also reflects lower gross margin, an increase in selling & distribution expenses, higher administrative expenses, the presence of restructuring expenses and the presence of loss on disposal of business.