Chairman on brink of taking control at Cosalt

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1873 – Great Grimsby Coal, Salt and Tanning Company founded

1971 – floats on the London Stock Exchange and abbreviates name to Cosalt

1972 – receives Queen’s Award for export

October 2007 – buys GTC marine services group for £30m

June 2008 – David Ross becomes chairman

June 2008 – buys Norwegian oil and gas support services firm Myhre-Maritime for £12m

August 2009 – £18.9m fundraising to avoid covenant breach

August 2009 – admits had a number of takeover approaches, which come to nothing

October 2010 – reveals £4m hole in offshore accounts

August 2011 – completes sale of marine business to Survitec for £27m after costs and says it is more financially stable

October 19, 2011 – profits and cashflow warning

November 17, 2011 – David Ross considering £400,000 offer