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Swire

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For people named Swire, see Swire (surname).

Swire Group
Company type
IndustryConglomerate
Founded1816; 208 years ago (1816)
HeadquartersOne Pacific Place, Hong Kong (Operational HQ)
London (Registered HQ) [1]
(Hong Kong but with registered office in London for John Swire & Sons Limited (UK) and some other related entities and subsidiaries)
Key people
Barnaby Swire, Chairman, John Swire & Sons Limited, Merlin Swire, (Chairman, Swire Pacific)
ProductsProperty, aviation, beverages, food chain, shipping, offshore support services, agriculture, manufacturing, wholesale and retail, mining etc.
RevenueIncrease £12.08 billion (2021)[1]
US$16.3 billion
Number of employees
100,000+ [2]
SubsidiariesSwire Pacific

Steamships Trading Company
Swire Beverages
Swire Shipping
Swire Resources

Swire Foods
WebsiteSwire.com
Swire
Traditional Chinese太古集團
Simplified Chinese太古集团
Jyutpingtaai3 gu2 zaap6 tyun4
Transcriptions
Standard Mandarin
Hanyu PinyinTàigǔ Jítuán
Yue: Cantonese
Jyutpingtaai3 gu2 zaap6 tyun4

Swire Group (Chinese: 太古集團) is a highly diversified global conglomerate with its parent company being John Swire & Sons Limited that holds controlling stakes in a range of businesses trading in the UK, USA, Australia, Papua New Guinea, East and West Africa, and across Southeast Asia. The Group's businesses are arranged into groups: property, aviation, beverages and food chain, marine services, and trading and industrial.

Its core businesses are mainly focused on Asia, with its key operations in Hong Kong and the Chinese Mainland. Within Asia, Swire's activities come under the group's publicly quoted arm, Swire Pacific Limited, which is the largest shareholder in two Hong Kong listed companies: Swire Properties and Cathay Pacific. Taikoo (太古) is the Chinese name of Swire. It serves as the brand name for businesses such as Taikoo Sugar and Taikoo Shing.

History

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The Swire Group's privately owned parent company is London-based John Swire & Sons Limited.[3] The Swire Group, started by John Swire (1787–1847) in 1816, had its beginnings as a modest Liverpool import-export company based mainly on the textile trade.[4]

Swire Pacific Offshore Holdings Limited (SPO), was a wholly owned subsidiary of Swire Pacific, supplying chartered vessels that supported the offshore oil and gas industry worldwide. It owned a fleet of 69 offshore vessels.[5] Tidewater entered into a definitive agreement to acquire all of the outstanding shares of Swire Pacific Offshore (SPO), a subsidiary of Swire Pacific Limited, for approximately $190 million in early March 2022. Tidewater announced the completion of its acquisition of Swire Pacific Offshore on Friday 22 April 2022.[6]

Businesses

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Swire Pacific Limited

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The Swire Group's core businesses in Hong Kong are held by Swire Pacific Limited, listed on the Hong Kong Stock Exchange.[7] It also operates Swire Beverages Holdings Ltd and Swire Foods Holdings Ltd for their beverages and food chain group.

Cathay Pacific Airways

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In 1948, Swire Pacific acquired Cathay Pacific, Hong Kong's largest airline, and remains as the largest shareholder, with 42%.[8]

Swire Properties

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Incorporated in 1972, Swire Properties develops and manages commercial, retail and residential properties, with a particular focus on mixed-use development in prime locations at major mass transportation intersections.[9]

The company's investment portfolio in Hong Kong totals approximately 17.8 million sq ft (approximately 1.66 million square metres[note 1]) of gross floor area, with Pacific Place,[10] Island East[11] as its core holdings.

In addition to Hong Kong, the company has a presence in China, the United States and the United Kingdom. In China, Swire Properties has a portfolio amounting to approximately 12.9 million sq ft (approximately 1.20 million square metres[note 1]), the majority of which is under construction. The five projects consist of mixed-use developments in Beijing, Shanghai, Guangzhou and Chengdu,[12] with Sanlitun Village[13] and The Opposite House hotel[14] in Beijing being the best-known among them.

In 2008, the company formed Swire Hotels[15] to create and manage urban hotels in Hong Kong, China and the United Kingdom.

Swire Resources

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Swire Resources is a Hong Kong retail company specializing in sports apparel, swimwear, and footwear.

The company is the Hong Kong distributor for several major international brands, including Aldo, Arena, Columbia Sportswear, Crocs, Rockport, and Speedo.

Swire Shipping

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Swire Shipping is the wholly owned shipping arm of John Swire & Sons Limited, headquartered in Singapore. It operates shipping agencies for its liner shipping trades.

The company has a 67% shareholding in Quadrant Pacific of New Zealand that provides third-party agency services to the forestry and oil industries, as well as husbandry services.

Swire Bulk

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Swire Bulk is a leading vessel owner and operator specializing in transporting cargoes in the dry bulk segment, that currently own and chartered-in a fleet of 125 modern, fuel-efficient vessels worldwide, predominantly in the handy-size and supra / ultramax sector.

Steamships Trading Company

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Steamships Trading Company is a diversified leader in shipping, transport, property and commercial operation in Papua New Guinea.

The company has a 70% shareholding in Consort Express Lines, a leading provider of coastal and river shipping services in Papua New Guinea. Its liner trades service 17 ports in Papua New Guinea and the company also provides project charters.

The company has a 100% shareholding in Pacific Towing, which has a harbor towing, offshore support and salvage operation that owns and operates 12 tugs and nine line boats across seven ports in Papua New Guinea.

John Swire and Sons (Green Investments) Ltd

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John Swire & Sons (Green Investments) Ltd has acquired Scottish biodiesel producer Argent Energy. Argent Energy pioneered large scale commercial biodiesel production in the UK when it started production at its plant near Motherwell in Scotland in 2005.[16] The firm makes its road fuel by recycling wastes and residues from other industries – specifically used cooking oil which is a waste from the food industry, tallow from the meat industry, and sewer grease.

Swire Coca-Cola

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Swire is an anchor bottler in the Coca-Cola System. It is the bottler of Coca-Cola and its related products in 11 provinces and the Shanghai Municipality in Mainland China, Hong Kong, Taiwan, Cambodia, Vietnam, and 13 states in the western United States.[17] This territory represents a population of 780 million people.[18]

Chairmen

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Chairmen of Swire Pacific

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Swire Pacific was formed in 1974 (from Taikoo Swire) to become the main holding company for Swire's Hong Kong–based assets.

  1. John Bremridge, 1974–1980
  2. Duncan Bluck, 1981–1984
  3. Michael Miles, 1984–1988
  4. David Gledhill, 1988–1992
  5. Peter Sutch, 1992–1999
  6. James Hughes-Hallett, 1999–2004
  7. David Turnbull, 2005–2006
  8. Christopher Pratt, 2006–2014
  9. John Slosar, 2014–2018 (First non-British citizen as chairman)[19]
  10. Merlin Swire, 2018–2021 (First Swire family chairman)
  11. Guy Bradley, since 2021

See also

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Notes

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  1. ^ a b Gross floor area in respect of 100% of the properties excluding car park areas and not on an attributable basis.

References

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  1. ^ https://find-and-update.company-information.service.gov.uk/company/00133143/filing-history. Retrieved 13 November 2022.
  2. ^ "Swire About Us". Swire Group. Archived from the original on 2 July 2019. Retrieved 13 November 2022.
  3. ^ The Archives of John Swire & Sons are held at the School of Oriental and African Studies (SOAS), London. http://www.soas.ac.uk/library/archives/
  4. ^ The archives of John Swire & Sons Ltd are held at the School of Oriental and African Studies, London, http://www.soas.ac.uk/library/archives/
  5. ^ "Annual Report 2008" (PDF). Swire. p. 39. Archived from the original (PDF) on 29 September 2011. Retrieved 4 October 2009.
  6. ^ "Tidewater adds 50 vessels to its fleet after taking over Singapore operator". 25 April 2022.
  7. ^ "The Official Website of Swire Pacific". swirepacific.com. Retrieved 20 April 2012.
  8. ^ "Hong Kong govt takes stake in Cathay Pacific though $7bn rescue". executivetraveller.com. 9 June 2020. Retrieved 9 June 2020.
  9. ^ "The Official Website of Swire Properties". Swireproperties.com. Archived from the original on 26 February 2009. Retrieved 20 April 2012.
  10. ^ "Pacific Place Hong Kong". Pacificplace.com.hk. Retrieved 20 April 2012.
  11. ^ "Island East". Island East. 29 June 2010. Archived from the original on 10 January 2014. Retrieved 20 April 2012.
  12. ^ "Future Developments". Swire Properties. Archived from the original on 11 February 2014. Retrieved 20 April 2012.
  13. ^ "Sanlitun Village Shopping & Life Style Centre". Sanlitunvillage.com. Archived from the original on 21 April 2012. Retrieved 20 April 2012.
  14. ^ "Boutique Luxury Hotel – Beijing". The Opposite House. Retrieved 20 April 2012.
  15. ^ "Home page". swirehotels.com. Retrieved 20 April 2012.
  16. ^ "Who We Are". Argent Energy. Retrieved 28 March 2018.
  17. ^ Swire buys Coca-Cola bottlers in Vietnam, Cambodia for $1bn
  18. ^ "Beverages & Food Chain". Swire. Retrieved 23 March 2023.
  19. ^ Dvorak, Joanne Chiu And Phred (17 August 2014). "Swire Pacific Grooms Talent for the Long Term". Wall Street Journal. ISSN 0099-9660. Retrieved 28 December 2020.

Further reading

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