Glencore plc (an acronym for Global Energy Commodity Resources) is an Anglo–Swiss multinational commodity trading and mining company headquartered in Baar, Switzerland, with its registered office in Saint Helier, Jersey. The current company was created through a merger of Glencore with Xstrata on 2 May 2013. As of 2014, it ranked tenth in the Fortune Global 500 list of the world's largest companies. It is the world's third-largest family business.
As Glencore International, the company was already one of the world's leading integrated producers and marketers of commodities. It was the largest company in Switzerland and the world's largest commodities trading company, with a 2010 global market share of 60 percent in the internationally tradable zinc market, 50 percent in the internationally tradeable copper market, 9 percent in the internationally tradable grain market and 3 percent in the internationally tradeable oil market.
Glencore had a number of production facilities all around the world and supplied metals, minerals, crude oil, oil products, coal, natural gas and agricultural products to international customers in the automotive, power generation, steel production and food processing industries. The company was formed in 1994 by a management buyout of Marc Rich + Co AG (itself founded in 1974). It was listed on the London Stock Exchange in May 2011 and was a constituent of the FTSE 100 Index. It has a secondary listing on the Hong Kong Stock Exchange. Glencore's shares started trading on the Johannesburg Stock Exchange in November 2013.
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^ "Relatively successful". Daily Chart. The Economist. 3 November 2014. Retrieved 20 November 2014. Family-controlled firms now make up 19% of the companies in the Fortune Global 500, which tracks the world’s largest firms by sales. That is up from 15% in 2005, according to new research by McKinsey, a consulting firm, which defines such firms as ones whose founders or their families have the biggest stake, of at least 18%, plus the power to appoint the chief executive.
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