Synthomer plc , formerly known as Yule Catto & Co , is a British-based chemicals business. It is listed on the London Stock Exchange .
15-658: The company traces its roots back to 1863, when Andrew Yule founded a trading house known as Andrew Yule & Co. in Calcutta . At the same time Andrew's brother, George Yule , set up George Yule & Co. in London , which acted as British agency arm of Andrew Yule & Co. When in 1919 Andrew Yule & Co. and George Yule & Co. were sold to the US banking group J.P. Morgan & Co. and its British merchant banking affiliate Morgan Grenfell & Co. , both were turned from
30-569: A partnership into a private limited company . That same year Thomas Catto (1879–1959) was sent to India to take over management of the firm from Sir David Yule (1858–1928), a nephew of Andrew Yule. David Yule continued to hold the title of Chairman but had no active part in the operations of the business. In 1920, Thomas Catto and David Yule changed the name of the British purchasing arm of Andrew Yule & Co., George Yule and Company, to Yule, Catto & Company Ltd. Due to increased taxation,
45-614: A cashier at the Sasine Office, Register House. David was educated in Britain and went into the family business, which was trade with India, then the " jewel in the crown " of the British Empire . David joined Andrew Yule and Company , a conglomerate with diversified interests, which was founded by both his uncles, Andrew Yule and George Yule . The principal business of the company was the export of jute fiber. Over time
60-479: A daughter, Annie Henrietta Yule (1874 – 1950), who married her cousin . David eventually inherited all of the family's enterprises. As a wealthy widow, Annie spent the latter decades of her life as a film financier and a breeder of Arabian horses at the Hanstead Stud , alongside their only child, Gladys Yule. Sir David Yule, 1st Baronet Sir David Yule, 1st Baronet (4 August 1858 – 3 July 1928)
75-719: A partnership as warehousemen. The same year, encouraged by profits to be made in colonial trade, Andrew moved to India . One of the first businesses he established there was the Hoolungpooree Tea company. In 1866, he formed Andrew Yule and Co and established operations in Calcutta (now Kolkata ). The company was one of the pioneers of the extension of the cotton spinning industry to Bengal . Hand spinning had been widespread in Bengal in previous centuries, but cotton mills (factories) had previously been confined to
90-640: A very successful horse breeding farm for the Arabian breed , known as the Hanstead Stud . Annie Yule also commissioned one of the largest private yachts ever built in the UK, Nahlin , which measured 1,574 tons Thames measurement , was 300 feet (91 m) long and was said to have cost £250,000. Descendants of the Yule family are still alive today in England. This Scottish business-related biographical article
105-677: Is now known as Synthomer and is listed on the London Stock Exchange . Among his other business interests were directorships of Midland Bank , Mercantile Bank of India , Vickers Limited , the Royal Exchange Assurance Company and ownership of the Daily Chronicle newspaper, which he purchased from Lloyd George . David Yule was knighted by King George V in India on 4 January 1912 and
120-456: The Yules became progressively integrated in India from plantation to textile mills. His uncle George died childless in 1892. His uncle Andrew had a daughter, Annie Henrietta , whom David married in 1900. Andrew died in 1902 and at this point, the entire Yule conglomerate came under David's control. In 1919, David Yule and Thomas Catto, 1st Baron Catto formed Yule Catto and Company Ltd, which
135-585: The acquisition of Eastman Chemical adhesive activities for $ 1 billion. It included a former Hercules factory with 230 employees in Middelburg , the Netherlands , that produced about 80 different synthetic resins . They delivered, partly in 20 tonne bulk , to companies in over 70 countries. The company has three activities: polymer chemicals, pharma chemicals and impact chemicals. Andrew Yule Andrew Yule (2 November 1834 – 18 July 1902)
150-570: The city of Bombay . He also acted as trade representative for several companies. By 1875, he had established interests in jute, cotton and coal as well as in tea. That year, his brother George and their nephew David left England to settle in India. Andrew visited England frequently and finally retired there in 1888, settling in Dulwich (now a part of London ). He died at his residence, in Dulwich Park Road, on 18 July 1902. He had
165-590: The devaluation of the Indian rupee and the abolition of the managing agency system, Yule, Catto & Co. decided in 1969 to sell its shareholding in Andrew Yule & Co. to the Indian government. With the acquisition of Revertex Chemicals in 1980, Thomas Catto's son, Stephen (1923–2001) started to turn Yule Catto & Co. into an international speciality chemicals and building products manufacturer. Since 2007
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#1732791956681180-446: The group has been transformed from a diversified chemical business to a focussed speciality polymer business. In 2012 the company changed its name to Synthomer on the basis that the majority of its business already traded under that name. In July 2019, Synthomer announced that it was going to buy OMNOVA Solutions for an enterprise value of $ 824 million; the transaction was completed on 2 April 2020. In October 2021, Synthomer announced
195-573: Was a Scottish businessman based in British India . The Oxford Dictionary of National Biography judged him "arguably the most important businessman in India" and quoted his obituary in The Times as "one of the wealthiest men, if not the wealthiest man, in the country". David was born in Edinburgh , the son of David Yule and his wife Margaret. His father was a writer who also worked as
210-487: Was a businessman who founded Andrew Yule and Co . Andrew was born in Stonehaven - Fetteresso , Scotland , the third and youngest son of Robert Yule, a clothier , and his wife Elizabeth. He had two older brothers, David, a cashier at Register House in Edinburgh , and George , also an entrepreneur and trader. Andrew and George moved from Scotland to Manchester around 1855. Three years later, in 1858, they formed
225-567: Was created a baronet , of Hugli River in Calcutta , on 30 January 1922. He died on 3 July 1928. His baronetcy lapsed at his death for lack of an eligible heir. The New York Times reported that his daughter inherited $ 100 000 000 on his death, equivalent to $ 1.6 billion in 2022 money. David and Annie Yule had one child, a daughter called Gladys Yule (1903–1957). In 1925, the two women commissioned, as their family home, Hanstead House in Bricket Wood , Hertfordshire . Here, they set up
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