Ferrostaal

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Ferrostaal GmbH
Private company: GmbH
Industry Industrial Services and Machinery Supply
Founded 1920
Headquarters Essen, 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
Products Petrochemicals, printing machinery, food processing and packaging converting, etc
Services industrial services
Revenue Increase 1,6 billion (2008)[1]
Profit Increase 100 million(2008)[1]
Number of employees
4,400 (2008)
Website ferrostaal.com

Ferrostaal is a provider of industrial services. With 4,400 employees and an annual turnover of around euro 1, 6 billion euro (2008), Ferrostaal serves customers in more than 40 countries worldwide. Ferrostaal provides industrial services 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 has taken 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, underlining its separation from the MAN Group.[2]

History[edit]

Ferrostaal was founded in The Hague, Netherlands in 1920. The steel trading company was bought by Gutehoffnungshütte Aktienverein (GHH) in 1926. Ferrostaal expanded into many countries and, from the 1950s onwards, committed itself to worldwide steel trade. During the 1960s the company started to build industrial plants. Until the end of the 1960s, Ferrostaal was also known as 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's new owner is MPC Industries GmbH and the company's name has been changed to Ferrostaal GmbH.

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