Abelló Linde Centenary Book

THE PUBLIC LIMITED COMPANY
he conversion of the individual company – Isidro Abelló, Fábrica de
TOxígeno – into a plc – Abelló, Oxígeno-Linde SA – was logical. It may be
surprising, in any case, that the transformation took so long in coming,
if we bear in mind the success of the individual company. The delay is attributable
to the political and economic circumstances of the period studied in the previous
chapter, which affected above all the German part.
Going public was more suited to a company of a certain size. Moreover,
Isidro Abelló was getting old and it was in the company’s best interests to provide
it with a company structure that would assure its continuity and reach where he
had not.
The deed of establishment of the public limited company is dated March
28 th 1922. It was made between the brothers Isidro, Federico and José Abelló i
Camps, and Juan Rivera i Anglada, nephew of the first. Isidro Abelló acted on his
own behalf and on that of the individual company in his name, and the two
brothers also acted on behalf of Abelló Hermanos. The four of them established
Abelló, Oxígeno-Linde SA, as “the continuer of the business previously established
here in the name of Isidro Abelló”, which was already producing oxygen.
The objectives of the company, according to its articles of association, were:
1. The manufacture of liquid air, oxygen, nitrogen and other gases, using
the Linde system or any other suitable ones, plus the sale of its products.
2. The manufacture and sale of autogenous welding gear.
3. The sale and hire of bottles for oxygen or other gases, for the industrial
or therapeutic use of the products.
4. The purchase and sale of calcium carbide and dissolved acetylene, as
well as its manufacture.
Deed of establishment of the company “Abelló, Oxígeno-Linde, S.A.”
The registered office was established in Barcelona, at number 1, Carrer Alí
Bey. In 1934 they had to leave this address and move to number 6, Carrer Bailèn,
a few metres away. The factory remained at number 149, Carrer Sardenya.
The board of directors was made up of a committee of three delegated
shareholders and the manager.
The articles of association envisaged sharing out a 6% dividend between
the shareholders, as long as the financial years ended in profit, of course. If this
amounted to more than 6% of the capital, 10% would go to the manager, 15% to
the Board of Directors, another 15% to the staff and the rest for the formation of a
reserve fund or for a supplementary dividend.
View of La Sagrera factory
The early years of Abelló, Oxígeno-Linde S.A. (1922-1935) 61