 | |
| Company type | Private |
|---|---|
| Industry | Housebuilding |
| Founded | 1880 |
| Headquarters | London, England, United Kingdom |
Key people | John Robinson, Chairman Peter Redfern, CEO |
| Revenue | £3,147.4 million (2006) |
| £362.1 million (2006) | |
| £218.0 million (2006) | |
Number of employees | 6,050 (2005) |
| Parent | Taylor Wimpey |
| Website | www.taylorwimpey.co.uk |
George Wimpey was a British construction firm that typically worked in the civil engineering and housebuilding markets. It was, during the 1970s, the largest homebuilder active in the UK.
Established in 1880 and originally based in Hammersmith, the company's early activities were orientated around its road surfacing contractor role, as well as civil engineering, such as the construction of the White City Stadium complex and similar facilities. Following the death of George Wimpey in 1913, the business was acquired from the Wimpey family by Godfrey Mitchell in 1919. Mitchell would head the company for over half a century, making several key decisions such as to enter the private housebuilding sector during the 1920s. During 1934, George Wimpey went public on the London Stock Exchange; however, an unusual ownership scheme was enacted, under which the charitable Tudor Trust held about half of the firm's shares, an arrangement that lasted for several decades.
Throughout the Second World War, Wimpey contributed to the war effort through the construction of numerous airfields, factories, and other facilities to meet Britain's needs. After the war, the company secured substantial work from various local authorities to produce houses. It played a leading role in the use of no-fines concrete construction to produce new homes. Throughout the 1950s and the following two decades, Wimpey's building and civil engineering divisions expanded substantially, not just domestically but internationally as well, to the point that the firm became one of Britain's larger international contractors. A return to private homebuilding and a series of lucrative opportunities, particularly in the Middle East, had fuelled the company's growth. However, following the stepping down of Mitchell, the company appeared to lose direction and Wimpey's fiscal performance suffered during the late 1980s and early 1990s.
The early 1990s would see substantial changes, ranging from a reorganisation that replaced the traditional regional model to instead orient around key business activities to the disposal of several non-core business sectors. During 1995, Wimpey and rival company Tarmac agreed to the transference of the former's construction and minerals divisions in exchange the latter's housing division (largely McLean Homes). In the following years, McAlpine Homes was acquired from Alfred McAlpine while Laing Homes was also purchased from John Laing. Accordingly, Wimpey became increasingly centred around the housebuilding market. In July 2007, Wimpey merged with Taylor Woodrow to create Taylor Wimpey, the largest homebuilder in the UK.