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Frederick Wolseley's innovations to sheep shearing machinery revolutionised the entire wool industry. The wool business was much diminished by the advent of artificial textiles. Wolseley Sheep Shearing Machine Company was obliged to diversify into heating gear then building supplies. Its name and enterprise has continued, supplemented since 1982 by Ferguson Enterprises, a large American supplier of constructing materials. A Jersey holding company was set up in 2017 named Ferguson plc and underneath that title and ownership the original Wolseley business stays listed on the London Stock Exchange and a constituent of the FTSE 100 Index. The British and Canadian operations are still referred to as Wolseley. Ferguson plc's world headquarters is in Zug, Switzerland. The English business was founded by Frederick York Wolseley in London in 1889 and a company was integrated there with a capital of £200,000 to better realise the potential of his sheep shearing invention patented in March 1877. Herbert Austin, who had labored on the product's improvement in Melbourne Australia from 1887, was appointed its manager and acquired a share of its fairness.
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