Courtaulds
 | |
| Industry | Textiles, Chemicals |
|---|---|
| Founded | 1794 |
| Founder | George Courtauld |
| Defunct | 2000 / 2006 |
| Fate | Acquired |
| Successor | Sara Lee, Akzo Nobel |
| Headquarters | Coventry |
| Key people | George Courtauld Samuel Courtauld |
| Products | Textiles, Chemicals |
Number of employees | 1000 (2006) |
| Website | www |
Courtaulds was a United Kingdom-based manufacturer of fabric, clothing, artificial fibres, and chemicals. At one point, it was the world's leading man-made fibre production company before being broken up in 1990 into Courtaulds plc and Courtaulds Textiles Ltd.
The company was established in 1794 as George Courtauld & Co by George Courtauld. By 1850, it employed over 2,000 people across three silk mill, and it continued to expand over time. In 1904, Courtaulds acquired the Cross and Bevan's patents to the viscose process for manufacturing artificial silk to reduce the company's dependence on natural silk; within the decade, it was producing man-made fibres in quantity. Courtaulds also entered the market of cellulosics (viscose and acetate) in North America with the setting up of the American Viscose Corporation (AVC) in 1909. During the interwar period, the firm expanded its cellulosics business through various means, which included the founding of British Cellophane in 1935. By the end of the Second World War, Courtaulds was one of the four groups which dominated the man-made fibre industry in Europe.
Courtaulds was one of the first British companies to setup an economics department, a decision that has been credited with helping the firm become the world's largest textile manufacturer. In 1962, it was subject to an unsuccessful hostile takeover attempt by Imperial Chemical Industries (ICI). In the 1980s, Courtaulds worked on developing solvent-spun cellulose fibres. By the late 1980s, intense competition from Asian competitors led to the textiles business producing a smaller share of the profits in contrast to its fibre and chemicals business. Accordingly, in 1990, Courtaulds demerged itself into two parts, Courtaulds plc (containing the fibre production and chemicals activities) and Courtaulds Textiles Ltd (focused on fabric manufacture and clothing). Courtaulds plc would merge with competitor Akzo Nobel in 1998 while Sara Lee acquired Courtaulds Textiles two years later.