Cathelco Property
Cathelco is the world's leading manufacturer and supplier of marine cathodic protection systems. The strength of the company in this field provides a stable and sustained income stream to the rest of the Group. For many years the Group had invested in property to provide asset strength to the engineering businesses but in 1996 a strategic decision was made to become actively involved in property development. Property development is a good fit with the engineering businesses because they are different but complementary. Engineering provides a steady and predictable income stream, property development income is infrequent and more volatile but gives potentially higher margins. Engineering is labour intensive, property is capital intensive. By having both facets within the Group each benefits from the other. |
