IDENTITY STATEMENT
Reference code(s): GB 0074 LMA/4487
Held at: London Metropolitan Archives
Title: HUNTING PENSION TRUST LIMITED
Date(s): 197- - 2002
Level of description: Collection
Extent: 0.01 linear metres (11 documents)
Name of creator(s): Hunting Plc | supplier to oil and gas industry
CONTEXT
Administrative/Biographical history:
The Company website provides the following information: "Charles Samuel Hunting entered the oil business in the 1890's, expanding upon a successful ship owning firm set up by his father, also named Charles, in 1874. An inveterate traveller, he had journeyed the world "to study the oil trade" and in short order had pursued exploration prospects in Russia, built the first batch oil refinery on the Thames, invested in a production venture in Hungary and sought trading opportunities out of the Gulf of Mexico."
"He was a dynamic and directed man, characterised by his clear vision on what would power world trade. Leading by example he took a timely risk by ordering one of the first ever oil tankers. A subsequent building programme was to see one of the largest independent tanker fleets in the world flying the Hunting flag."
"The early shipping years bred a strong culture of trust and expectation of integrity. It was possible, after all in those pre-radio days, for a master of his ship to be away for nearly a year on some of the longest voyages. The ship's company needed the reassurance that the owners were working in their best interests and the owners on their part had to have faith in the dependence of their crew. This autonomous style of management is still deeply rooted."
"The First World War decimated the Hunting fleet and when Charles' two sons Percy and Lindsay got to grips with the business in the early twenties it was a desolate landscape that greeted the brothers. Determined once again to rebuild the fleet, Percy as "governing partner" also diversified the business by taking the company into aircraft servicing and manufacturing, and some years later an airline business, Hunting Clan. Much later the Hunting name in aviation became synonymous with a range of military and civil aircraft including the Jet Provost and in its nascent days the aircraft that would become one of Britain's best export sellers, the BAC 1-11."
"Yet further diversification came after the Second World War in which yet again Hunting personnel suffered the most appalling loss of life in the tanker trade. The urgency to test new markets, scan the horizon for new opportunities and to anticipate the needs of industry led the brothers into all sorts of ventures - and adventures. Not always successfully, but always with an eye to be leaders in the field. Oil had been struck in Texas, a world-class defence company had been established (whose precision engineering skills gave rise to the formation of an oil services company), an aerial survey and geophysical business with a global reach built, - and substantial investments made in the Canadian oil sector."
"It was indeed a worldwide, leading edge concern that Sir Percy Hunting left to the next generation and to Pat Hunting on his retirement with a knighthood in 1960. Always a pragmatist and a people person, his drive and enthusiasm for getting the best out of the team made a lasting impression."
"Petroleum retailing, lubricants and specialised products were added to the portfolio and increasingly outside capital was brought into the business to fund expansion during the sixties and seventies. The hitherto privately owned Hunting interests went public in three separate, though interrelated quoted companies. The situation was simplified in 1989 under Clive Hunting when all three were merged into the present Hunting PLC. His nephew Richard Hunting subsequently succeeded to the chair, taking up the reins as the company entered this new era."
"Today the company has metamorphosed again into a industry challenging Energy Services company, in one sector as befits a fully listed public company. Boosted by the proceeds of restructuring and leveraging off strong market fundamentals, the company is now in a new growth phase with new management in the vanguard, inspired by the entrepreneurial spirit and driven by the leadership of previous generations."
Source: Hunting Plc website at http://www.hunting.plc.uk/, accessed Nov 2009
CONTENT
Scope and content/abstract:
Pension scheme booklets for Hunting Plc; 'A Guide to the Hunting Gibson Limited and Hunting Group Limited Retirement Benefit Scheme (1967); 'Additional Voluntary Contributions' (2002) and 'The Hunting Pension Scheme' (2002).
ACCESS AND USE
Language/scripts of material: English
System of arrangement:
Arranged into sub-fonds, Hunting Publications (LMA/4487/A) and Other publications (LMA/4487/B).
Conditions governing access:
These records are available for public inspection, although records containing personal information are subject to access restrictions under the UK Data Protection Act, 1998.
Conditions governing reproduction:
Copyright rests with the depositor.
Finding aids:
Please see online catalogues at: http://search.lma.gov.uk/opac_lma/index.htm
ARCHIVAL INFORMATION
Archival history:
Immediate source of acquisition:
Deposited by The Pensions Archive Trust in 2008.
ALLIED MATERIALS
Related material:
This collection forms part of the Pensions Archive.
DESCRIPTION NOTES
Date(s) of descriptions: July to October 2009