 The company was originally formed by Edgar Purnell Hooley as the Tar Macadam (Purnell Hooley's Patent) Syndicate Limited in 1903.The distinguishing feature of the new process was that it "tarred" cheap blast furnace slag, a steelworks by-product, rather than expensive roadstone and the company entered into long term contracts with steelworks to ensure its supply.The business was secured in 1905 by Sir Alfred Hickman, who became its first chairman.