James Hardie Industries NV (JHI NV) was created in October 2001, after shareholders voted to accept a unanimous recommendation by the board of James Hardie Industries Limited (JHIL) to restructure the company and establish a new parent company (JHI NV) incorporated in the Netherlands.
In 2009 James Hardie put forward to shareholders a two-stage proposal (the Proposal) to transform James Hardie into a Societas Europaea company (SE) (Stage 1), and move its corporate domicile from The Netherlands to Ireland (Stage 2).
James Hardie shareholders approved Stage 1 of the Proposal on 21 August 2009, with over 99% of votes cast at an Extraordinary General Meeting being in favour of the resolution.
On 19 February 2010, James Hardie Industries SE announced that it had finalised the first stage of the the Proposal and, as a result, had transformed from a Dutch NV company to a Dutch SE and is now named "James Hardie Industries SE".
|
James Hardie
|
Andrew Reid |
The predecessor to these modern companies was established more than 100 years ago, in 1888, when the enterprising young James Hardie left his family's tannery business in Scotland and immigrated to Melbourne, Australia, in search of new opportunities. Capitalising on his experience, James started business, importing oils and animal hide tanning products.
The second major figure in the company's history, Andrew Reid, was born on January 24, 1867, near Linlithgow in Scotland. He knew James Hardie and maintained contact from Glasgow, where he worked as a Shipping Clerk. Encouraged by prospects in Australia, Andrew arrived in Melbourne in March 1892 and soon after joined James Hardie's business, becoming a full partner in 1895. Andrew Reid was outgoing, energetic and visionary and his talents combined well with Hardie's sound commercial judgement.
James Hardie retired in 1911 and sold his half of the business to Andrew Reid, whose family led the expanding business from 1911 until 1995, when his grandson John B Reid retired.
A publicly-owned company, James Hardie Industries Ltd, was listed on the Australian Stock Exchange in 1951. In the following years, the company built up a diverse portfolio of building and industrial products businesses.
In the mid 1980s, James Hardie pioneered the development of fibre cement technology, and began designing and manufacturing a wide range of fibre cement building products that made use of the benefits that came from the product's durability, versatility and strength.
Using the technical and manufacturing expertise it developed in Australia, James Hardie expanded its operations to become a world-leading, specialised, high-technology manufacturer of a wide range of fibre cement building materials.
Today, James Hardie is purely a fibre cement business. Our operations span the United States, Australia, New Zealand and the Philippines. We are also establishing a presence in Europe. We employ over 3,000 people who generate revenue of over US$900 million a year.
