Ferrostaal

Ferrostaal is a German-owned industrial services company. It has 4,400 employees and an annual turnover of around 1.6 billion euros (2008), and has a market presence in around 40 countries. The company's activities are focused in two areas: Projects (Petrochemicals, Industrial Plants, Solar Energy and Power) and Services (Equipment, Piping, Automotive). In 2009, the International Petroleum Investment Company (IPIC) of Abu Dhabi took over 70% of the shares of Ferrostaal AG from MAN AG, Munich. Due to the acquisition of the majority shares, the company entered the commercial register as Ferrostaal, signifying its separation from the MAN Group.[2]

Ferrostaal GmbH
TypePrivate company: GmbH
IndustryIndustrial Services and Machinery Supply
Founded1920
HeadquartersEssen, Germany
Number of locations
more than 40 countries worldwide
Area served
global
Key people
Executive Board: Dr. John Benjamin Schroeder, Dr. Klaus Lesker, Joachim Ludwig, Ralf Schwarzhaupt, Dr. Michael Bütter
ProductsPetrochemicals, printing machinery, food processing and packaging converting, etc
Servicesindustrial services
RevenueIncrease 1,6 billion (2008)[1]
Increase 100 million(2008)[1]
Number of employees
4,400 (2008)
ParentFranz Haniel & Cie. Edit this on Wikidata
Websiteferrostaal.com

HistoryEdit

Ferrostaal was founded in The Hague, Netherlands, in 1920. The steel trading company was bought by Gutehoffnungshütte Aktienverein (GHH) in 1926. Over time Ferrostaal expanded into more countries, and had a presence in the international steel trade from the 1950s onwards. During the 1960s the company started building industrial plants. Until the end of the 1960s, Ferrostaal was also a manufacturer of diesel railcars and railbuses. In 2004 it was renamed MAN Ferrostaal. Three years later the corporation sold two thirds of its steel business. In 2007 Solar and Biofuels were created as new strategic business areas. As a result of IPIC taking over the majority of shares of MAN Ferrostaal AG, the company changed its name into Ferrostaal AG.[citation needed]

In March 2012, MAN SE announced the sale of Ferrostaal AG to the MPC Group.[3] Since March 2012 Ferrostaal has been owned by MPC Industries GmbH and the company's name has been changed to Ferrostaal GmbH.

ReferencesEdit

  1. ^ a b "Annual Report of Ferrostaal AG" (PDF). ferrostaal.com. 2008.[permanent dead link]
  2. ^ http://www.ferrostaal.com/uploads/tx_mfsmatrix/MF_JB_08_Gb_sec.pdf[permanent dead link]
  3. ^ MAN. "MAN and IPIC close Ferrostaal transaction". man.eu.

External linksEdit