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Michael is up 260 places in the Rich List
7:40pm Thursday 10th May 2012 in News
A KNUTSFORD businessman has jumped 260 places in the latest Sunday Times Rich List.
Michael Oliver, chairman and founder of Oliver Valves, the Parkgate-based manufacturer of high-performance valves used by the world’s biggest energy companies, has been named on the prestigious list.
He has been ranked at number 243 with a personal wealth of £344 million, rising 260 places from his position last year.
Michael founded Oliver Valves off the back off a single innovative valve he created in his garage in 1979.
The business now supplies valves to the world’s biggest oil and gas firms such as Shell and Exxonmobil.
In 2011, it posted profits of more than £8 million. Michael is the chairman of three separate companies within the Oliver family – Oliver Valves, Oliver Valvetek and Oliver Twinsafe.
Oliver Valvetek received one of the highest honours in business after securing a Queen’s Award for Enterprise in the International Trade category.
A noted-philanthropist, Michael regularly donates to charities such as the Armed Forces Benevolent Fund, Wood Street Mission and Variety Club.
He also recently set up the Michael Oliver Foundation, which supports carers living in the Cheshire area.