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50-674: The Butterley Company was an English manufacturing firm founded as Benjamin Outram and Company in 1790. Its subsidiaries existed until 2009. This area of Derbyshire had been known for its outcrops of iron ore which had been exploited at least since the Middle Ages . After the Norman Conquest , nearby Duffield Frith was the property of the de Ferrers family who were iron masters in Normandy . In 1793, William Jessop , with

100-405: A corporate , although this term can also apply to cooperating companies and their subsidiaries with varying degrees of shared ownership. A parent company does not have to be the larger or "more powerful" entity; it is possible for the parent company to be smaller than a subsidiary, such as DanJaq , a closely held family company, which controls Eon Productions , the large corporation which manages

150-507: A scheduled monument in 2013. The Butterley Ironworks Trust was formed in 2015 to formulate plans for future uses of the remaining Butterley Company buildings, archaeological remains and the Butterley Tunnel . 53°3′35.43″N 1°24′11.40″W  /  53.0598417°N 1.4031667°W  / 53.0598417; -1.4031667  ( Location of the former Butterley Company ) Subsidiaries The subsidiary can be

200-642: A company (usually with limited liability ) and may be a government-owned 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 ; more focused companies include IBM , Xerox , and Microsoft . These, and others, organize their businesses into national and functional subsidiaries, often with multiple levels of subsidiaries. Subsidiaries are separate, distinct legal entities for

250-487: A definition that provides that "control" is "the capacity of an entity to dominate decision-making, directly or indirectly, in relation to the financial and operating policies of another entity so as to enable that other entity to operate with it in pursuing the objectives of the controlling entity". This definition was adapted in the Australian Corporations Act 2001 : s 50AA. Furthermore, it can be

300-404: A joint arrangement (joint operation or joint venture) over which two or more parties have joint control (IFRS 11 para 4). Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. The Companies Act 2006 contains two definitions: one of "subsidiary" and

350-432: A judgment against the parent if they can pierce the corporate veil and prove that the parent and subsidiary are mere alter egos of one another. Thus any copyrights, trademarks, and patents remain with the subsidiary until the parent shuts down the subsidiary. Ownership of a subsidiary is usually achieved by owning a majority of its shares . This gives the parent the necessary votes to elect their nominees as directors of

400-524: A licence from Sir Henry Bessemer within a month of his announcing his method. The licences were spread around the country in order to protect the trading interests of the licensees. Notable patents were taken out by the company's manager, Sir John Alleyne . In December 1859 Alleyne patented a method of producing a load-bearing iron beam known as the Butterley Bulb, used in many early iron steam ships including HMS Warrior In 1861 Alleyne patented

450-408: A method that allowed hot ingots to be moved around a roller after they had passed by just one person. During the production of steel sections the bar has to be repeatedly put through rollers. Allowing this to happen using just one person was a substantial increase in productivity. By 1863 the company was rolling the largest masses of iron of any foundry in the country. Among its most famous buildings are

500-677: A photograph shoot for the record sleeve for their 1995 single called 'Some might say.' The Old Godavari Bridge , also known as the Havelock Bridge was constructed with stone masonry and steel girders in 1896 linking Rajahmundry in East Godavari to Kovvuru in West Godavari in Andhra Pradesh,India. It has 56 spans each of 45.7 metres (150 ft)and is 3,480 metres (11,420 ft) long. The girders were fabricated by

550-462: A subsidiary undertaking, if: The broader definition of "subsidiary undertaking" is applied to the accounting provisions of the Companies Act 2006, while the definition of "subsidiary" is used for general purposes. In Oceania , the accounting standards defined the circumstances in which one entity controls another. In doing so, they largely abandoned the legal control concepts in favour of

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600-561: A useful part of the company that allows every head of the company to apply new projects and latest rules. Pode Hole Pode Hole is a village in South Holland , Lincolnshire , England. It is 2 miles (3.2 km) from Spalding and 10 miles from Bourne . The village lies at the confluence of several drainage channels, where two pumping stations discharge water into Vernatt's Drain from land in Deeping Fen to

650-1002: Is a subsidiary/child company of the ultimate parent company, while a second-tier subsidiary is a subsidiary of a first-tier subsidiary: a "grandchild" of the main parent company. Consequently, a third-tier subsidiary is a subsidiary of a second-tier subsidiary—a "great-grandchild" of the main parent company. The ownership structure of the small British specialist company Ford Component Sales, which sells Ford components to specialist car manufacturers and OEM manufacturers, such as Morgan Motor Company and Caterham Cars , illustrates how multiple levels of subsidiaries are used in large corporations: The word "control" and its derivatives (subsidiary and parent) may have different meanings in different contexts. These concepts may have different meanings in various areas of law (e.g. corporate law , competition law , capital markets law ) or in accounting . For example, if Company A purchases shares in Company B, it

700-436: Is available for Pode Hole. The best available report is for the whole Pinchbeck civil parish , which covers several settlements north and east of Spalding with a total of 5,153. At the 2011 census population details can be found under the civil parish of Pinchbeck. The name may well be a reference to a marshy location, possibly with a population of frogs and toads. Pode Hole farm , near Thorney probably derives its name

750-497: Is possible that the transaction is not subject to merger control (because Company A had been deemed to already control Company B before the share purchase, under competition law rules), but at the same time Company A may be required to start consolidating Company B into its financial statements under the relevant accounting rules (because it had been treated as a joint venture before the purchase for accounting purposes). Control can be direct (e.g., an ultimate parent company controls

800-680: The Cromford Canal at Bullbridge was called the Butterley Gangroad and incorporated the world's oldest surviving railway tunnel , at Fritchley (built 1793). In 1812, William Brunton , an engineer for the company, produced his remarkable Steam Horse locomotive In 1817, in the depression following the Napoleonic Wars , the works at Butterley was the scene of the Pentrich Revolution . The intention of

850-470: The James Bond franchise. Conversely, the parent may be larger than some or all of its subsidiaries (if it has more than one), as the relationship is defined by control of ownership shares, not the number of employees. The parent and the subsidiary do not necessarily have to operate in the same locations or operate the same businesses. Not only is it possible that they could conceivably be competitors in

900-628: The Midland Counties Railway . It produced all the necessary castings for the new railways and two complete lines, the Croydon, Merstham and Godstone Iron Railway and the Cromford and High Peak Railway . A winding engine for the latter exists in working order at Middleton Top near Wirksworth . The company was quick to invest in the new Bessemer process for steel manufacture in 1856, being one of four businesses that took out

950-574: The Welland to the Witham to improve the fall. It is unclear if this would have worked, but the funds were not available and a later proposal for steam engines at Pode Hole was interrupted by his death. In the end an engineer called Benjamin Bevan appointed by the commissioners placed orders for two beam engines from separate engineers, Fenton and Murray of Leeds, and Butterley of Derby. The first

1000-513: The Barlow train shed at St Pancras station in London , which included 240-foot spans. Alleyne's next invention was the two high reversing steel mill patented in 1870, which used two steam engines to allow metal ingots to be repeatedly rolled to get the correct size and section. With this technique the steel did not have to be moved to re-enter the rolling process but merely had to be moved back into

1050-795: The Butterley Company of Ripley, Derbyshire. The rail bridge served the busy Howrah-Chennai line until its decommissioning, a century later, in 1997 when a replacement bridge was built at the side of the Old Godavari Bridge. The bridge is being used to host the civic water supply and there are plans for it to be a tourist destination. Discussing the war work which the Butterley Company undertook during WW2, Roy Christian stated that "The workers who made mysterious floats had no idea of their ultimate purpose until one morning in June 1944 they realised that their products were helping to support

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1100-505: The Mulberry Harbour off the low coastline of Normandy, and by that time they were busy building pontoon units and Bailey bridge panels ready for the breakthrough into Germany. But if they were often in the dark about the purpose and destination of the products over which they toiled for days in workshop, forge and foundry, they understood their importance. No time was lost through the war years on strikes or disputes, and absenteeism

1150-624: The South and West. Water from Pinchbeck South Fen to the North is also lifted into Vernatt's Drain. The village arose to service the pumping stations . The village is largely a ribbon development stretching from the pumping stations and the Fishermans Arms public house along Bourne Road toward Spalding. The village post office and small shop is now also a bed and breakfast , and an outside catering service. No separate population statistic

1200-497: The assistance of Benjamin Outram , constructed the Cromford Canal to connect Pinxton and Cromford with the Erewash Canal . In digging Butterley Tunnel for the Cromford Canal , coal and iron were discovered. Fortuitously, Butterley Hall fell vacant and in 1790 Outram, with the financial assistance of Francis Beresford, bought it and its estate. The following year Outram and Beresford were joined by Jessop and John,

1250-623: The capacity was required. The water from the South drain is piped under Vernatt's drain to the Pode Hole station, much as it was tunnelled before the 1830 engine was built. (The idea of a tunnel under a river is not unique. Not far away at Bourne South Fen Gilbert Heathcote's tunnel was built under the River Glen , and might have been the inspiration for the system at Pode Hole.) The beam engines were maintained in storage until 1952, but then scrapped. Diesel engines were already in use across

1300-490: The cill of the precursor sluices at Pode Hole. The fen drains could not naturally discharge into Vernatt's Drain. There was a history of windmill-driven pumps and later small steam engines across the Fens but the two engines at Pode Hole were the first of the large scale pumping efforts, and an encouragement to later schemes. John Rennie was consulted in 1818, and he proposed diverting the upper reaches of Vernatt's Drain from

1350-575: The company with it. In 1830 it was considered to be the largest coal owner and the second-largest iron producer in the East Midlands . By this time the company owned a considerable number of quarries for limestone and mines for coal and iron , and installed a third blast furnace at Codnor Park. In 1830, John Wright withdrew from the partnership and passed his interest in the company to his twenty-four year old son, Francis Wright . Francis worked for his first years at Butterley with William Jessop

1400-461: The company. Wellman Booth is a division of The Clarke Chapman Group Ltd, itself a wholly owned subsidiary of Langley Holdings plc. After completion of the acquisition, Clarke Chapman Services, a division of Clarke Chapman added Butterley, Adamson, Adamson Alliance and John Smith (Keighley) cranes to the list of brands that they provide parts and service for. In March 2024, the website of Clarke Chapman Limited, formerly The Clarke Chapman Group Limited,

1450-401: The fens when Pode Hole was modernised in 1925. The current Ruston diesel engines date from 1964 and vertical axis axial flow Foster Gwynnes pumps are driven by David Brown gear boxes. The second station alongside uses electric pumps and was built in the 1960s. The original pumping station building is a feature in the village and is in use for workshops and a small museum. The by-laws of

1500-453: The first-tier subsidiary directly) or indirect (e.g., an ultimate parent company controls second and lower tiers of subsidiaries indirectly, through first-tier subsidiaries). Recital 31 of Directive 2013/34/EU stipulates that control should be based on holding a majority of voting rights, but control may also exist where there are agreements with fellow shareholders or members. In certain circumstances, control may be effectively exercised where

1550-664: The grandson of Ichabod Wright, a wealthy Nottingham banker who was betrothed to Beresford's daughter and who owned the neighbouring Butterley Park estate. In 1793 the French Revolutionary Wars broke out and by 1796 the blast furnace was producing nearly a thousand tons of pig iron a year. By the second decade of the next century the company had expanded with another works at Codnor Park in Codnor , both works then having two blast furnaces, and output had risen to around 4,500 tons per year. Outram died in 1805 and

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1600-684: The leadership of the Company passed to many of his descendants. One of the two drainage engines at Pode Hole and the engine in the Pinchbeck Engine land drainage museum were built by Butterley, as were the Scoop wheel pumps. They produced a vast array of goods, from rails for wagonways to heaters for tea urns. Thomas Telford 's Caledonian Canal used lock gates and machinery with castings produced at Butterley, and two steam dredgers designed by Jessop. The company also produced steam locomotives , mostly for its own use, but it provided two for

1650-555: The marketplace, but such arrangements happen frequently at the end of a hostile takeover or voluntary merger. Also, because a parent company and a subsidiary are separate entities, it is entirely possible for one of them to be involved in legal proceedings, bankruptcy, tax delinquency, indictment or under investigation while the other is not. In descriptions of larger corporate structures, the terms "first-tier subsidiary", "second-tier subsidiary", "third-tier subsidiary", etc. describe multiple levels of subsidiaries. A first-tier subsidiary

1700-553: The name changed to the Butterley Company, with one of Jessop's sons, also William, taking over. In 1814 the company produced the iron work for Vauxhall Bridge over the River Thames . The company also owned Hilt's Quarry at Crich , which supplied limestone for the ironworks and for the limekilns at Bullbridge , providing lime for farmers and for the increasing amount of building work. The steep wagonway to

1750-482: The other "subsidiary undertaking". According to s.1159 of the Act, a company is a "subsidiary" of another company, its "holding company", if that other company: The second definition is broader. According to s.1162 of the Companies Act 2006, an undertaking is a parent undertaking in relation to another undertaking, a subsidiary undertaking, if: An undertaking is also a parent undertaking in relation to another undertaking,

1800-471: The parent holds a minority or none of the shares in the subsidiary. According to Article 22 of the directive 2013/34/EU an undertaking is a parent if it: Additionally, control may arise when: Under the international accounting standards adopted by the EU a company is deemed to control another company only if it has all the following: A subsidiary can have only one parent; otherwise, the subsidiary is, in fact,

1850-430: The purposes of taxation , regulation and liability . For this reason, they differ from divisions which are businesses fully integrated within the main company, and not legally or otherwise distinct from it. In other words, a subsidiary can sue and be sued separately from its parent and its obligations will not normally be the obligations of its parent. However, creditors of an insolvent subsidiary may be able to obtain

1900-414: The rebels was to kill the three senior managers and ransack the works for weapons. When they arrived they were confronted by George Goodwin the factory agent, who, with a few constables, faced them down. There is little to be seen of the event, but the hexagonal office where Goodwin stood his ground is a listed building in the yard of the works. Following this the country entered a long period of prosperity,

1950-456: The rolling machine once it had passed through. There was also an extensive brickworks for railways, thousands of factories and domestic dwellings. By 1874 company workers were starting to fight for better conditions. The company sacked 11 miners "without a charge" on 5 May 1874. In 1885 the Butterley Company made the Grade II listed footbridge for Cromford Station, which was used by Oasis for

2000-463: The same way. Pode Hole has one of the earliest rain gauge records of precipitation, beginning in 1726. Pode Hole falls within the drainage area of the Welland and Deepings Internal Drainage Board , successors to the original Deeping Fen commissioners. Pumping stations were installed because the cill at Vernatt's Sluice, where the drain discharges into the Welland above Spalding, was higher than

2050-460: The subsidiary, and so exercise control. This gives rise to the common presumption that 50% plus one share is enough to create a subsidiary. There are, however, other ways that control can come about, and the exact rules both as to what control is needed, and how it is achieved, can be complex (see below). A subsidiary may itself have subsidiaries, and these, in turn, may have subsidiaries of their own. A parent and all its subsidiaries together are called

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2100-407: The younger (the founding partner's son), and then remained very involved with the company until his death in 1873, building the town of Ironville to house Butterley workers, and often travelling for miles every day by horse and carriage from his estate at Osmaston near Ashbourne to Ripley. It was under Francis' leadership that Butterley supplied the iron for St Pancras Station, and after his death,

2150-423: Was 60 hp , the second 80 hp. Butterley supplied both scoop wheels . The engines started work early in 1825, and continued in use until 1925. A third steam engine was erected on the North bank of Vernatt's drain to lift water from Pinchbeck South Fen. This operated between the early 1830s until the end of the century. This was built as much because that fen was under separate control for those years as because

2200-471: Was designed to open to allow shipping traffic to pass through. The same year, Butterley Engineering Co., known for their expertise with high-tech cranes, were awarded the contract to manufacture a special 'super-safe' crane to work above the reactor at Sizewell B nuclear power station in Suffolk. In the mid 1980s the foundry closed down. When surplus buildings were demolished the original blast furnace of 1790

2250-576: Was exposed. The company entered the 21st century with a well-established reputation for constructing bridges, overhead cranes and structural steelwork. One of the company's prestige projects was the Falkirk Wheel , a boatlift at Falkirk , Scotland to reconnect the Forth & Clyde Canal and the Union Canal in place of a derelict flight of 11 locks . Designed by RMJM architects, it

2300-616: Was funded by the Millennium Commission . The company constructed the Spinnaker Tower in Portsmouth . On 5 March 2009, the company was placed into administration, the administrator stating "This is a highly specialist business that has proven vulnerable to the economic downturn". Following the closure of Butterley Limited in 2009, Wellman Booth acquired certain assets, spares and intellectual property rights of

2350-701: Was low. Some of those workers were women, for in the first time in its history female labour was being employed at the Butterley works." At its peak in the 1950s the company employed around 10,000 people. In 1957, a partnership with Air Products of the USA helped establish that company in the United Kingdom. In the early 1960s the company acquired locomotive manufacturer F. C. Hibberd & Co Ltd . The Codnor Park works closed in 1965. In 1966, Montagu "Monty" Francis Melville Wright retired as Chairman and

2400-585: Was subsequently split up into Butterley Engineering, Butterley Brick and Butterley Aggregates. Butterley Hall, which had been home to Outram and then to Albert Leslie Wright before his death in 1938, after which it became offices, was sold off to become the headquarters of Derbyshire Constabulary . Butterley Engineering Co. manufactured the Glengall Bridge across the Millwall Dock in London, which

2450-562: Was succeeded by Robert William Francis Wilberforce; John Leslie Fitzwalter Wright, son of (Edward) Fitzwalter Wright became vice-Chairman. He was the sixth generation of the Wright family to join Butterley. The last descendant of John Wright to be a director was (Philip) Norman Wright, who retired after the takeover in 1968. The company was acquired by the Wiles Group, which later became Hanson Trust , in 1968 for £4.7 million. The company

2500-508: Was updated with the name 'Butterley Engineering' re-introduced as one of Clarke Chapman's 'Brands' including use the resurrection of the 'Butterley Engineering' logo, seemingly with the intention to pursue potential new work and/or parts provision outside of the other Clarke Chapman divisions. Demolition of the works was undertaken in November and December 2009. The blast furnaces, part of the canal tunnel and its underground wharf were declared

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