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drink due to poor filtration and decades-old wooden supply pipes. Environmental research and
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clean-up efforts have contributed to the diversification of the local economy in the
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post-millennium era, and signs of vitality remain, including a multimillion-dollar polysilicon
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manufacturing plant locating nearby in the 1990s and the city's recognition and designation in the
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late 1990s as an All-America City and also as one of the National Trust for Historic Preservation's
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Dozen Distinctive Destinations in 2002.
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See also Anaconda Copper History of Montana References Works cited External links
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History & culture of Butte at official City and County of Butte-Silver Bow website
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Butte mining history at Mining History Association
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History Butte
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Jardine Matheson Holdings Limited (also known as Jardines) is a Hong Kong-based Bermuda-domiciled
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British multinational conglomerate. It has a primary listing on the London Stock Exchange and
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secondary listings on the Singapore Exchange and Bermuda Stock Exchange. The majority of its
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business interests are in Asia, and its subsidiaries include Jardine Pacific, Jardine Motors,
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Hongkong Land, Jardine Strategic Holdings, DFI Retail Group, Mandarin Oriental Hotel Group, Jardine
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Cycle & Carriage and Astra International. It set up the Jardine Scholarship in 1982 and Mindset, a
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mental health-focused charity, in 2002.
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Jardines was one of the original Hong Kong trading houses or Hongs that date back to Imperial
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China. 58 per cent of the company's profits were earned in China in 2019. The company is controlled
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by the Keswick family, who are descendants of co-founder William Jardine's older sister, Jean
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Johnstone.
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Jardine Matheson is a Fortune Global 500 company. In 2013, both Jardine Matheson and Jardine
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Strategic were among the top 200 publicly traded companies in the world, as valued by market
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capitalisation.
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History 19th century to WWII: The early days
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The firm of Jardine, Matheson & Company emerged in 1832 from an evolving process of partnership
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changes in the trading business Cox & Reid, a partnership established in 1782 between John Cox and
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John Reid, the latter having been agent of the Austrian trading company, Trieste Company.
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University of Edinburgh Medical School graduate William Jardine (1784-1843) joined the firm, by
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then having morphed through Cox & Beale, Beale & Company and Beale & Magniac into Magniac &
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Company, and the original partners long gone, in 1825 at the invitation of principal Hollingworth
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Magniac. University of Edinburgh graduate James Matheson joined three years later as Magniac
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prepared to retire. With the cession of Hong Kong under the 1842 Treaty of Nanking, the firm, by
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then named Jardine, Matheson & Company, set up its headquarters on the island and grew rapidly.
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Continuing its longstanding trade in smuggled opium, tea, and cotton, the firm diversified into
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other areas including insurance, shipping, and railways. By the mid-19th century, the company had
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become the largest of the hongs or foreign trading conglomerates with offices in all the important
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Chinese cities as well as Yokohama, Japan. One of its branch agencies, Glover and Co., established
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in Nagasaki, was known in Japan as an arms dealer who contracted with then-rebel forces from Chōshū
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Domain who led the Meiji Restoration in 1868.
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In the early decades of the 20th century, Jardines built cotton mills, a press packing plant, and a
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brewery in Shanghai while expanding into Africa, America, and Australia. When war came to China in
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1937, the firm suffered heavily both in Hong Kong and in mainland China.
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After the 1949 foundation of the People's Republic of China, trading conditions for foreign
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companies under the new Communist regime became increasingly difficult.
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Post-WWII restructuring and expansion
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The firm listed in Hong Kong in 1961. The landmark Mandarin Hotel opened in Hong Kong in 1963 as
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the city's first five star hotel.
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In 1970, Jardine Fleming, the first merchant bank in Asia, opened for business while a real estate
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company and sugar plantations in Hawaii and the Philippines were acquired. A Hong Kong building
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boom in the mid 1970s saw Jardine's buy Gammon Construction, the largest construction and civil
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engineering group on the island. A presence was re-established on the mainland in 1979 following
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China's reform and opening up and a year later the firm established the Beijing Air Catering
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Company Ltd., the first foreign joint venture in the country. During the 1970s Jardines also
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expanded their insurance interests with acquisitions in the United Kingdom and the United States
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laying the groundwork for the foundation of Jardine Insurance Brokers.
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By 1980, the firm had operations in southern Africa, Australia, China, Great Britain, Hong Kong,
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Indonesia, Japan, Malaysia, Philippines, Saudi Arabia, Singapore, South Korea, Taiwan, Thailand, as
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well as the United States, and employed 37,000 people. After re-domiciling to Bermuda in 1984 ahead
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of the 1997 handover of Hong Kong, in 1990 Jardine Matheson Holdings and four other listed group
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companies arranged primary share listings on the London Stock Exchange in addition to their Hong
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Kong listings. Other significant developments during this decade included the merging of Jardine
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Insurance Brokers with Lloyd Thompson to form Jardine Lloyd Thompson, the acquisition of a 16%
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interest in Singapore blue-chip Cycle & Carriage and Dairy Farm’s purchase of a significant stake
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in Indonesia's leading supermarket group Hero. Hotel brand Mandarin Oriental also embarked on a
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strategy to double its available rooms and improve returns.
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The first decade of the new millennium saw Jardine Cycle & Carriage acquire an initial 31% stake in
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Astra International, which has since been increased to just over 50%. Hongkong Land became a Group
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subsidiary for the first time following a multi-year programme of steady open market purchases
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while Jardine Pacific raised its interest in Hong Kong Air Cargo Terminals Limited from 25% to 42%.
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In 2018, Jardines sold its 41% interest in Jardine Lloyd Thompson to Marsh and McLennan Companies.
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21st-century operations
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Jardines today comprises a group of companies with extensive operations across Asia and, through
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some of its businesses, the world. The firm's business interests include Jardine Pacific, Jardine
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Motors, Hongkong Land, Dairy Farm, Mandarin Oriental, Jardine Cycle & Carriage, through which its
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interest in Astra is held. The Group also has strategic interests in other entities.
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Jardine Pacific
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Jardine Pacific is a holding company which represents a significant number of the Group's
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non-listed interests in Asia, principally in engineering and construction, transport services,
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restaurants and IT services. These include a number of Jardines’ long-standing businesses such as
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Jardine Engineering Corporation (JEC), Jardine Aviation Services, Hong Kong Air Cargo Terminals,
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Jardine Schindler (joint-venture with the Schindler Group which evolved from JEC's earlier
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appointment as Schindler's sole Hong Kong representative), Gammon Construction and Jardine Travel
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Group as well as more contemporary interests that reflect the demands of Asian consumers; among
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them Pizza Hut restaurants in Hong Kong, Taiwan, Vietnam and Myanmar, KFC franchises in Hong Kong,
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Macau and Taiwan, and Jardine OneSolution IT services.
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Jardine Motors
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Jardine Motors is active in the sales and service of motor vehicles in Hong Kong, Macau, mainland
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China and the United Kingdom.
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Subsidiary Zung Fu, which has held the Mercedes-Benz luxury vehicle franchise in Hong Kong for over
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50 years, has achieved one of the highest market penetrations in the world for the luxury brand and
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ranks among its top international performers. The group also represents Smart and Hyundai passenger
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cars in Hong Kong. Zung Fu is expanding its presence across the growing market of Southern China
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where it is actively developing a network of Mercedes-Benz dealerships.
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In the United Kingdom, Jardine Motors is one of the country's largest retail dealership groups with
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a portfolio of specialist franchises that includes Aston Martin, Audi and Volkswagen, Jaguar and
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Land Rover, Mercedes Benz and Porsche.
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Hongkong Land
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Hongkong Land is an Asian property investment, management and development group. Established in
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Hong Kong in 1889 by Sir Paul Chater and William Keswick, the group today has property interests