11th September 1964

Major Guernsey employer Tektronix went public

Tektronix was once a major employer in Guernsey. The US electronics company had chosen Guernsey as its European manufacturing base in the late 1950s, so it could benefit from its proximity to the Common Market (later the EU) and its attractive tax regime.

Originally it occupied a building on Victoria Avenue but, according to the Vintage Tek site, it later commissioned a new factory close to the airport. This building is still in use by another major employer on the island: Specsavers.

The company certainly invested considerably in the island. However if the local staff magazine, Tek-Topics, is anything to go by, the size of the Atlantic was proving to be a buffer to smooth communications.

Tektronix floats

The first edition of the magazine’s second volume (PDF) featured photos of Tektronix equipment being unloaded at Guernsey Airport, news about the factory being extended yet further, and an editorial that asked whether the company should be more open about what it did on Guernsey in light of coverage in the Guernsey Press that, it hints, was a little wary.

However, the issue was dominated by the news that the company, Tektronix Inc, had been floated on the New York and Pacific stock markets on 11 September.

“Here in Europe we tend to miss much of the detail which [head office] employees have enjoyed,” the magazine explained.

The shares opened at $19.75 apiece, but within just a few days were changing hands at more than $30 each, delivering an immediate profit for their original holders of over 33%.

Tektronix closed its Guernsey operation in early 1990.

 

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Other events that occured in September

Channel Television took to the air 1st
A Guernseyman cycled to Herm 2nd
Brecqhou was put up for sale 3rd
Renoir arrived on Guernsey to paint 4th
Ship sinks in St Sampson harbour 5th
The melon king died… long live the melon king 6th
Coronavirus returns to Guernsey 7th
HD Ferries makes its last crossing
6th Battalion of the Royal Irish Regiment fought at the Somme 8th
Guernsey number plate sold for £240,000 9th
Guernsey hosted the second Island Games 10th
Major Guernsey employer Tektronix went public 11th
Guernsey was struck by a hurricane 12th
Schoolboys and teacher went missing off Sark 13th
Guernsey holidaymakers head home itching 14th
The title Baron de Saumarez was created 15th
Missing girl, Jetta, was found on Guernsey 16th
Archaeologists found a porpoise grave 17th
An Islander aircraft crashed in Guernsey 18th
Guernsey commando Hubert Nicolle died 19th
Guernsey and Jersey considered merging 20th
Occupation resister Winifred Green was deported 21st
The Devil’s Rock had its opening night 22nd
The Duke of Connaught visited Guernsey 23rd
Former bailiff Daniel de Lisle Brock died 24th
Occupation president Ambrose Sherwill died 25th
Trudy, Guernsey’s biggest ever import, was installed 26th
“Let em starve,” said Churchill 27th
A Guernsey planning dispute headed to Europe 28th
Herm tenant Major Peter Wood died 29th
Spotlight was broadcast for the first time 30th