Salzgitter AG
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| Type | Public (FWB: SZG) |
|---|---|
| Founded | 1858 |
| Headquarters | Salzgitter, Germany |
| Key people | Wolfgang Leese (CEO and Chairman of the executive board), Rainer Thieme (Chairman of the supervisory board) |
| Industry | Steel, engineering |
| Products | Steel products including tubes, steel trading, packaging and filling systems |
| Revenue | €12.499 billion (2008)[1] |
| Profit | ▲ €676.9 million (2008)[1] |
| Employees | 21,600 (2007)[2] |
| Website | www.salzgitter-ag.de |
Salzgitter AG (FWB: SZG) is a German company, one of the largest steel producers in Europe with an annual output of around 7 million tonnes.
The company was founded in 1858 in the Hanover area in Germany to manufacture the pig iron from the ore discovered in the area between Hanover and Magdeburg. The initial shareholders were primarily local landowners and merchants. In the 1920s the company was involved in coal mining in Westphalia to safeguard the supplies of coal required for pig iron manufacturing. The company grew through a number or mergers and acquisitions and eventually became state owned. During the 1960s, the company was the largest state owned corporation in the world. It then went public on the German Stock Exchange in 1998.
With over 100 subsidiaries and associated companies, the Group is structured in five divisions – Steel, Trading, Tubes, Services and Technology – under the umbrella of a management holding company.
The Group's principal activity is to manufacture steel and associated products. The products include heavy profile steel sheets, hot-rolled wide strips and steel strips, heavy and medium weight plates, sheet steel, and trapezoidal sheeting. The company also owns 20% of Norddeutsche Affinerie which is the largest copper producer in Europe and as well the largest copper recycler worldwide.
In December 2008 the company moved up from the MDAX Index to the DAX Index of top 30 German companies.
[edit] References
- ^ a b "Annual Results 2008". Salzgitter AG. http://www.salzgitter-ag.de/en/Presse/Pressearchiv/2009/Eckdaten_des_Geschaeftsjahres_2008/. Retrieved on 2009-03-07.
- ^ "Key data". Salzgitter AG. http://www.salzgitter-ag.de/en/Investor_Relations/Finanzdaten/Kennzahlen/. Retrieved on 2009-03-07.
[edit] External links
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