Salzgitter AG

Salzgitter AG
legal form	Corporation
ISIN	DE0006202005
founding	1998
Seat	Salzgitter , Germany
management	Heinz Jörg Fuhrmann , CEO ; Burkhard Becker, finance; Michael Kieckbusch, HR; Heinz-Gerhard Wente , Chairman of the Supervisory Board ;
Number of employees	25,227
sales	8.547 billion euros
Branch	Steel industry
Website	www.salzgitter-ag.de
	As of December 31, 2019

The Salzgitter AG power plant in Salzgitter

Blast Furnaces 1961

Blast furnace B at night

The Salzgitter AG is a listed German steel company based in Salzgitter . The Salzgitter Group consists of more than 100 individual companies, including Salzgitter Flachstahl- , Ilsenburger Grobblech- , Peiner Träger GmbH and Mannesmannröhren-Werke . In 2018, the group achieved sales of around 9.3 billion euros. The Salzgitter Group employs over 25,000 people worldwide, it is the fifth largest European manufacturer in the flat and profile steel sectors and occupies a leading position worldwide in the tube sector. In terms of value added, it is among the 5 largest companies in Lower Saxony.

The company name Salzgitter AG stands for two different companies:

Firstly for Salzgitter AG , which emerged in 1962 from the former Reichswerke AG für Berg- und Hüttenbetriebe , which was taken over by Preussag AG in 1989 .

Second, for Salzgitter AG , which was newly founded in 1998 and which arose from the spin-off of the steel division of Preussag AG ( Preussag Stahl AG ).

history

Today's Salzgitter AG traces its history back to the Ilseder Hütte in Groß Ilsede near Peine . The AG, founded on September 6th, 1858, is one of the oldest German stock corporations . The steel activities at the eponymous location in Salzgitter originated for the first time during the National Socialist dictatorship through the Reichswerke AG “Hermann Göring” . After the Second World War , the German part of the Reichswerke became part of the state-owned Salzgitter AG . Since the original works in Salzgitter had been almost completely dismantled and transported away by the Allies after the end of the war, reconstruction began in the 1950s. In addition to steel production, the Salzgitter Group later included other activities, primarily in the areas of mining, shipbuilding, plant construction and building materials.

In the post-war period , the central location of Salzgitter AG , the city of Salzgitter, became a "paradise for social democrats ". In the still young Federal Republic, in addition to Salzgitter AG, there were companies such as VW , Büssing , Bosch and the wagon and railcar manufacturer Linke-Hofmann-Busch . In 1962 the state-owned Salzgitter Group had 81,000 employees and an annual turnover of 2.3 billion DM .

On September 19, 1966, the weekly newspaper Der Spiegel published a notice that Georg Leibbrandt , a former participant in the Wannsee Conference , was head of the Bonn office of the federally owned Salzgitter AG .

In 1970 the steel division of the state-owned Salzgitter AG was brought into the Ilseder Hütte, which was then renamed Stahlwerke Peine-Salzgitter AG with its headquarters in Peine; The majority shareholder was now Salzgitter AG . In 1995 the Groß Ilsede site was given up.

On October 1, 1989, the formerly federally owned Salzgitter AG , which included other activities in addition to steel production, was sold to Preussag AG . With the privatization proceeds of Salzgitter AG amounting to around 1.3 billion euros, the federal government established the German Federal Environment Foundation ( DBU Foundation ). This is one of the largest foundations in Europe. The annual income from the foundation's assets of around 50 million euros is available for funding purposes.

The steel division was renamed Preussag Stahl AG , other Salzgitter companies were sold by Preussag in the following years. Until 1998, Preussag Stahl was part of Preussag. In spring 1998 the group was taken over temporarily by the Lower Saxony state government and the Norddeutsche Landesbank ( NORD / LB ) and on June 2, 1998 60.2% of the shares in the steel company renamed Salzgitter AG were floated on the stock exchange. Previously, only 0.232% of the shares were in public trading.

In the spring of 1999 Salzgitter AG negotiated a merger with the Luxembourg Arbed Group. In 1999/2000, Salzgitter AG participated in the compensation fund for former Nazi forced laborers .

After Mannesmann was taken over by Vodafone in 2000 , the Salzgitter Group acquired Mannesmannröhren-Werke , a leading global supplier of seamless and welded steel tubes , for the symbolic price of one euro.

In June 2006, the Stahlservice-Center Flachform Stahl GmbH , Schwerte , belonging to the Arcelor group, was taken over by the Salzgitter company Stahl-Service-Center (SSC) Hövelmann & Lueg GmbH (now Salzgitter Mannesmann Stahlservice GmbH ). With this step, the steel trading activities of Salzgitter Mannesmann Handel GmbH , the global sales network of the Salzgitter Group in Germany, were expanded. On August 8, 2006, the minority stake in the French pipe manufacturer Vallourec was sold on the stock exchange and a profit of more than EUR 900 million was achieved.

With the takeover of a 78 percent stake in Klöckner-Werke , announced on March 8, 2007 , the group intended to reduce its dependency on the highly cyclical steel industry and to expand its position by adding new activities.

Heinz Jörg Fuhrmann has been the CEO of Salzgitter AG since February 1, 2011 .

As part of the 2021 strategy , Salzgitter AG is investing a three-digit million amount in Ilsenburger Grobblech GmbH for a new heat treatment line and in Salzgitter Flachstahl GmbH for a new hot-dip galvanizing plant. The investments announced in 2017 should be completed with the completion of the plants by 2020.

In 2018, Salzgitter AG achieved a profit of around 278 million euros.

In June 2020, Salzgitter AG announced the preparation of a feasibility study for an iron ore direct reduction plant with upstream hydrogen electrolysis at the deep water port of Wilhelmshaven .

Share and shareholders

The company's share capital is divided into around 60 million ordinary shares . The shares held by Salzgitter AG itself and the stake held by the State of Lower Saxony are regarded as permanent holdings, the remaining 63.5% of the ordinary shares are considered to be free float . For shareholders with reportable shares at the end of 2017, see table:

proportion of	Shareholders
26.5%	State of Lower Saxony
10.0%	own shares
4.80%	Deutsche Asset Management Investment GmbH
3.0%	Dimensional Holdings Inc.
3.0%	Wellington Management Group LLP