LAIRD PLC

LAIRD PLC

Previous company name
LAIRD GROUP PUBLIC LIMITED COMPANY (THE)
Name change date
5/9/2008
Company Overview
The company is a privately held entity based in the United Kingdom that is engaged in the management activities of a holding company. It was incorporated in 1898, and has its registered business office located in London, UK.
The company handles the administrative affairs and services of a holding company and grants management services to its subsidiaries. It also provides financial support and control function for the board. Furthermore, the company is responsible for managing the group and its overall legal structure, tax planning, financial and equity structures. In addition, it is involved in matters of policy, strategic planning, marketing, selecting and manning senior management positions, approving investments and budgets, and the overall ongoing monitoring of the group companies’ performance. The company’s subsidiaries are involved in the design, manufacture and supply of products and services to the electronics industries.
Business Summary
The Company is a holding company. The principal activities of its subsidiary undertakings are design, manufacture and supply of products and services to the electronics industries.
Description and history
The Company is a holding company. The principal activities of its subsidiary undertakings are design, manufacture and supply of products and services to the electronics industries.

Laird is a global electronics and security systems group currently employing some 12,000 people in operations in North America, Europe and across Asia.

History
The Company was incorporated on 4 January 1898 and admission of its shares to trading on AIM commenced on 23 June 1949.

The Company is structured into two core business divisions, Laird Technologies and Laird Security Systems, both of which enjoy leading positions in their chosen markets. Laird’s increasing presence in the growing markets of Asia and Central Europe provides proximity to its customers as well as a lower-cost supply base. Laird is committed to creating value for its shareholders through a partnership of customers, employees and suppliers, as well as maintaining high environmental and ethical standards in the countries in which it operates. With its global presence and a competitive edge through innovation, technical expertise, customer service and low cost manufacturing, Laird is well-equipped to compete in the third Millennium and faces the future with confidence.

Laird can trace its origins back to the 1800s as a shipbuilder. One of its early achievements was the manufacture of the first ironclad ship to sail in US waters, and the Group was a builder of warships for the British Navy. During the next 100 years Laird’s principal activities remained focused on the heavy engineering industry, including shipbuilding, aircraft manufacturing, steel production and the manufacture of mass transit railway carriages and equipment.

With the arrival of the 1970s Laird sets a new course into businesses with prospects of growth by commencing the divestment of its major heavy engineering activities. In the early 1980s Laird develops its focus on the automotive industry in Continental Europe and on the service and distribution industries, through the acquisition of Fullarton Computer Industries and the establishment of its North American plastics distribution business.

In the mid 1980s Laird establishes its Security Systems division, which rapidly expands to supply a comprehensive range of security hardware products for the residential building and home improvement markets. In the mid 1990s Laird creates an electronics business as a spin-off from its sealing business, growing it rapidly both geographically and by acquisition.

Laird embraces the new Millennium by beginning to focus on specialist markets where its businesses can hold leading positions and seek opportunities for profitable growth. The automotive activities are divested in 2000 and Laird acquires Instrument Specialties in the first step of what will become a very successful acquisition programme to strengthen its interests in the electromagnetic shielding industry. In 2001 R&F Products, a leading supplier of EMI absorber products mainly to the military market, is acquired.

The focusing of Laird is advanced by the decision to divest of its Fullarton computer assembly activity in 2002, as its market becomes subject to increasing competitive pressure and over-capacity. BMI is acquired in a further step to strengthen the electronics division, and broaden its product range.

Laird’s acquisition programme accelerates in 2003 with the purchase of US-based Orcus Inc, Korea-based Magnes Corporation and Warth Limited in the UK and Japan, allowing Laird to establish itself firmly as the global market leader in EMI shielding and to begin to build a presence in the thermal management industry. Laird enters the high growth composite door market with the acquisition of Intron, allowing the Group to bring a unique and fully integrated solution to the market and to achieve synergistic benefits through the use of Laird Security Systems’ door hardware.

The focusing of Laird to its two core divisions is completed with the divestment of Laird Plastics in 2004. The acquisition of Lindman Group Limited, a manufacturer of high specification composite entrance doors, follows that of Intron in 2003, enabling Laird Security Systems to offer a wider range of products and support services via two strong brands. In September Laird acquires Home Doors (GB) and Houseproud and upon integrating these businesses Laird becomes the UK market leader in the supply of doors, windows and affordable conservatories to the DIY retail market. Laird Technologies’ success as a thermal management provider is secured by the acquisition of Thermagon, Inc and Laird enters the antennae market in October with the acquisition of the market-leader, Centurion Wireless Technologies, thereby becoming a leading integrated supplier in the growth market for mobile communication technologies.

In 2005 Cateron Corporation is acquired, providing Laird Technologies with greater access to the PC notebook market and later in the year the acquisition of Melcor Corporation further strengthens the thermal management solutions the Group offers. Within Laird Security Systems, exposure to the declining UK window market is reduced through the disposal of the Permacell Finesse business. The UK composite door business is strengthened with the acquisition of Securidor, while Laird Security Systems’ US window and door hardware business is augmented by the acquisition of Builders Hardware Inc, which offers complementary products and increases the Group’s presence on the west coast of the USA.

Laird starts 2006 with two ‘bolt on’ acquisitions, enhancing Laird Security System’s growing position in the building products market: Bandlock Corporation, a supplier of an extensive range of custom PVC extrusions, mainly for the fenestration and door markets in California and Balance UK Limited, a supplier of a range of heavy duty window balances used in the manufacture of vertically sliding windows in the UK. In continuance of the Group’s repositioning to higher growth markets Laird acquires Antenex, a leading designer, developer and manufacturer of wireless communications antennae, thus expanding Laird Technologies’ product range and markets served. In March Laird acquires RecepTec, a leader in the design, testing and supply of satellite digital radio, global positioning system and other specialist communications antennae to the North American and European automotive markets. The acquisition of RecepTec allows Laird Technologies to exploit further its revenues from the automotive market and serves to complement its existing antennae offering.

Change of name
The company changed name to Laird Plc with effective on 9 May 2008.

Business Line
Engaged in the management activities of a holding company
Subsidiary
“CAROLINE” ACHTZEHNTE VERMЦGENSVERWALTUNGSGESELLSCHAFT MBH
Advisor
ERNST & YOUNG LLP
IPO date
6/23/1949
US SIC Code
3679
Company Address
100, Pall Mall

City province or state postal code
SW1Y 5NQ, LONDON
Phone: +44 20 7468 4040
Fax: +44 20 7839 2921
Country address: UNITED KINGDOM
Website url: www.laird-plc.com