Salzgitter AG
   HOME

TheInfoList



OR:

Salzgitter AG is a German company, one of the largest
steel Steel is an alloy made up of iron with added carbon to improve its strength and fracture resistance compared to other forms of iron. Many other elements may be present or added. Stainless steels that are corrosion- and oxidation-resistant ty ...
producers in
Europe Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a Continent#Subcontinents, subcontinent of Eurasia ...
with an annual output of around seven million tonnes. 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.


Activities

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 Aurubis AG (formerly Norddeutsche Affinerie AG) is listed on the stock exchange and is the largest copper producer in Europe (the second largest in the world) and the largest copper recycler worldwide. Its headquarters is in Hamburg, German ...
which is the largest copper producer in Europe and as well the largest copper recycler worldwide.


History

The history of the company goes back to 1858, when in
Peine Peine (; Eastphalian: ''Paane'') is a town in Lower Saxony, Germany, capital of the district Peine. It is situated on the river Fuhse and the Mittellandkanal, approximately west of Braunschweig, and east of Hanover. History A deed from 11 ...
the
Ilseder Hütte The Ilseder Hütte is a former ironworks in Ilsede ( district of Peine) in Lower Saxony, Germany History Funded by the bank Ephraim Meyer & Sohn. Carl Hostmann founded an Ironworks based on supposed both coal- and orefields in this area ...
started. The company was part in 1937 as
Reichswerke Hermann Göring Reichswerke Hermann Göring was an industrial conglomerate in Nazi Germany from 1937 until 1945. It was established to extract and process domestic iron ores from Salzgitter that were deemed uneconomical by the privately held steel mills. The st ...
, Neumann, Klaus.
Shifting memories: the Nazi past in the new Germany
', University of Michigan Press 2000, pp. 18–40.
Wengenroth, Ulrich.
The Rise and Fall of State-Owned Enterprise in Germany
', in Toninelli, Pierangelo Maria: ''The Rise and Fall of State-Owned Enterprise in the Western World'', Cambridge University Press 2000, pp. 103–127.


. ''
Time Time is the continued sequence of existence and events that occurs in an apparently irreversible succession from the past, through the present, into the future. It is a component quantity of various measurements used to sequence events, to ...
''. 15 December 1965. Retrieved on 13 December 2009.

Riskanter Kurs
" (in German). ''
Die Zeit ''Die Zeit'' (, "The Time") is a German national weekly newspaper published in Hamburg in Germany. The newspaper is generally considered to be among the German newspapers of record and is known for its long and extensive articles. History The ...
''. 3 February 1989, No. 6. Retrieved on 13 December 2009.
Salzgitter AG – eine Stadt für den Stahl
(in German). NDR online. 17 March 2009. Retrieved on 13 December 2009.

Company History: Salzgitter AG
.
Answers.com Answers.com, formerly known as WikiAnswers, is an Internet-based knowledge exchange. The Answers.com domain name was purchased by entrepreneurs Bill Gross and Henrik Jones at idealab in 1996. The domain name was acquired by NetShepard and sub ...
. Retrieved on 13 December 2009.
which went on to become the largest German economic enterprise in the
Third Reich Nazi Germany (lit. "National Socialist State"), ' (lit. "Nazi State") for short; also ' (lit. "National Socialist Germany") (officially known as the German Reich from 1933 until 1943, and the Greater German Reich from 1943 to 1945) was ...
Overy, Richard J.
War and economy in the Third Reich
', Oxford University Press, Clarendon Press, 1995, pp. 144–174.
along with
I.G. Farben Interessengemeinschaft Farbenindustrie AG (), commonly known as IG Farben (German for 'IG Dyestuffs'), was a German chemical and pharmaceutical conglomerate. Formed in 1925 from a merger of six chemical companies—BASF, Bayer, Hoechst, Agfa, ...
and
Vereinigte Stahlwerke AG The Vereinigte Stahlwerke AG (VSt or Vestag, ''United Steelworks'') was a German industrial conglomerate producing coal, iron, and steel in the interbellum and during World War II. Founded in 1926, economic pressures (decreasing prices and excess ...
. The Reichswerke were liquidated in 1953. Its legal successor became the state owned AG für Bergbau- und Hüttenbetrieb, renamed Salzgitter AG in 1961. During the 1960s, the company was the largest state-owned corporation in the world. It went public on the German Stock Exchange in 1998. In 1970, Salzgitter AG merged with the mining company
Ilseder Hütte The Ilseder Hütte is a former ironworks in Ilsede ( district of Peine) in Lower Saxony, Germany History Funded by the bank Ephraim Meyer & Sohn. Carl Hostmann founded an Ironworks based on supposed both coal- and orefields in this area ...
, which was founded in 1858 in the
Hanover Hanover (; german: Hannover ; nds, Hannober) is the capital and largest city of the German state of Lower Saxony. Its 535,932 (2021) inhabitants make it the 13th-largest city in Germany as well as the fourth-largest city in Northern Germany ...
area in Germany to manufacture
pig iron Pig iron, also known as crude iron, is an intermediate product of the iron industry in the production of steel which is obtained by smelting iron ore in a blast furnace. Pig iron has a high carbon content, typically 3.8–4.7%, along with silic ...
from the ore discovered in the area between Hanover and Magdeburg. The initial shareholders of Ilseder Hütte 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, but was hit by the economic crisis of the 1970s and became state owned through the merger with Salzgitter AG. :de:Ilseder Hütte In December 2008 Salzgitter AG moved up from the
MDAX The MDAX is a stock index which lists German companies trading on the Frankfurt Stock Exchange. The index is calculated by Deutsche Börse. Until 2021 included the 60 Prime Standard shares from sectors that rank immediately below (in value of mar ...
index to the
DAX Dax or DAX may refer to: Business and organizations * DAX, stock market index of the top 40 German companies ** DAX 100, an expanded index of 100 stocks, superseded by the HDAX ** TecDAX, stock index of the top 30 German technology firms * Dax ...
index of top 30 German companies. It was demoted back to the MDAX in June 2010. Since 2019, Salzgitter AG is part of the small-cap
SDAX The SDAX (German abbreviation for ''Small-Cap-deutsche Aktienindex'') is a stock market index composed of 70 small and medium-sized companies in Germany. These so-called ' small caps' rank directly below the MDAX (mid-cap) shares in terms of o ...
index.


Controversy

In 2019, Germany’s
Federal Cartel Office The Federal Cartel Office (, ; BKartA) is Germany's national competition regulatory agency. First established in 1958, BKartA comes under the authority of the Federal Ministry for Economic Affairs and Climate Action. The agency is headquartered ...
(BKartA) fined Salzgitter AG – alongside
Thyssenkrupp ThyssenKrupp AG (, ; stylized as thyssenkrupp) is a German industrial engineering and steel production multinational corporation, multinational Conglomerate (company), conglomerate. It is the result of the 1999 merger of Thyssen AG and Krupp and h ...
and
Voestalpine Voestalpine AG – stylized as voestalpine – is an Austrian steel-based technology and capital goods group based in Linz, Austria. The company is active in steel, automotive, railway systems, profilform and tool steel industries. As of 201 ...
– and three individuals a combined €646 million ($712 million) for
price fixing Price fixing is an anticompetitive agreement between participants on the same side in a market to buy or sell a product, service, or commodity only at a fixed price, or maintain the market conditions such that the price is maintained at a given ...
after establishing that they had agreed on certain surcharges for steel plates from 2002 to 2016.Arno Schuetze (December 12, 2019)
German antitrust watchdog fines Thyssen, Salzgitter, Voestalpine
''
Reuters Reuters ( ) is a news agency owned by Thomson Reuters Corporation. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide. Reuters is one of the largest news agencies in the world. The agency was estab ...
''.


See also

*
List of steel producers This is a list of the largest steel-producing companies in the world mostly based on the list by the World Steel Association. This list ranks steelmakers by volume of steel production in millions of tonnes and includes all steelmakers with producti ...


References


External links

* {{DEFAULTSORT:Salzgitter Ag Companies based in Lower Saxony Manufacturing companies established in 1937 Manufacturing companies of Germany Salzgitter History of mining in Germany German companies established in 1858