Washington H Soul Pattison & Company (SOL)

Shares / Stock Code

SOL

Stock Exchange / Sharemarket

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Washington H Soul Pattison & Company (SOL) is a holding company enagaged in a diverse range of activities. The principal activities of Company incorporate the acquisition of shares and properties, coal mining, bulk handling, telecommunications carrier, funds management and retailing of pharmaceutical products. SOL was listed on the Australian Stock Exchange on 31 July, 1962. SOL has considerable equity and property investments. Its key investments incorporate Australian Pharmaceutical Industries, Brickworks, Clover Corporation and controlling interests in New Hope Corporation, SP Telemedia and KH Foods.

The Company sold out its entire media division in May 2007. This disposal involved the sale of the interest in NBN Enterprises Pty Limited. The Company purchased the remaining 50% and Food and Beverage Company Limited on December 1, 2006. On January 22, 2007, Washington H Soul Pattison & Company joined the KH Foods Limited rights issue, thus increasing its ownership rights to 86.6%. Andrew Wright Holdings Pty Ltd which is a wholly owned subsidiary of New Hope acquired the remaining 50% equity in Queensland Bulk Handling Pty Ltd (QBH) and Bulk Terminal Services partnership (BTS) on August 1, 2007. On August 22, 2007, KH Foods Limited divested its grocery cake business to George Weston Foods Limited. On August 28, 2007, KH Foods Limited completed the divestment of the Beaumonts route business, which provides services to the greater Geelong region.

SOL derives its revenue from its equity and property investments as well as from its subsidiaries. Its interest in various industries of operations has made it possible for the company to capitalise on market changes in diversified sectors.

Washington H Soul Pattison & Company History

Washington H. Soul Pattinson and Company Limited was formed on 21 January, 1903. The company had previously operated as two separate companies - Pattinson and Co. and Washington H. Soul and Co. The Company listed on the Australian Stock Exchange ASX in 1962. Since the late 1960s, SOL has progressively expanded its operations. SOL obtained a stake in Brickworks in 1969. In 1982, it acquired 59% of Surrey Properties, which was later renamed as New Hope Corp. In 1989 the Company announced the acquisition of NBN Ltd. After that SOL also invested in the telecommunications, merchant banking and food products market segments. More than 40 employees have served the company for over 50 years. Washington H. Soul Pattinson is now a major investment house with a portfolio incorporating many industries - its traditional field of pharmacy along with building materials, natural resources, food technology and beverages, equity investments, media and telecommunications, merchant banking and funds management.