MAN Ferrostaal AG celebrates its 75th anniversary

13.09.2005 -

MAN Ferrostaal AG celebrates its 75th anniversary on September 17, 2005. Looking back on an eventful history, the Essen-based company is today an international provider of industrial services within the MAN Group.

When Ferrostaal was formally entered in the Essen company registry as a joint-stock company in 1930, it was the result of a merger between the iron merchant activities of Gutehoffnungshütte (GHH), a local company, and Ferrostaal, a Dutch company. At that time German companies typically used the Netherlands as a stepping stone into the international iron trade. Ferrostaal had joined the Gutehoffnungshütte group already in 1925 and was instrumental in supporting the development of industrialising countries in Latin America, Africa, Asia and Eastern Europe ever since its foundation.

Already back in those early days the company's international network included branches in Chile, Peru, Argentina, Uruguay and Indonesia which were soon complemented by businesses in China, Greece Turkey and Iran. Over time the international operations developed into the mainstay of Ferrostaal's activities and the company steadily leveraged its trading contacts to build a worldwide business network with a particular focus on the emerging countries.

General contracting, technology transfers and project networking have long been among the proven strengths of the Ferrostaal company. From planning and financing to turnkey completion, the Essen-based company has an excellent track record at managing major industrial projects. Today MAN Ferrostaal is a fully integrated member of the MAN Group and the second biggest MAN division in terms of sales revenues, maintaining branches and offices in more than 60 countries around the globe.

As the Group faces unique challenges in the global economic environment, Executive Board Chairman Dr. Matthias Mitscherlich says: “We are resolved to sharpen our profile within MAN and to mobilise synergies within the Group.” Specifically, Ferrostaal will push ahead its role as a global sales platform for the MAN Group and continue to build its project management expertise. These two efforts will be the cornerstones of the future development. At the same time, the Essen head office remains committed to ensuring continuity particularly in periods of major change. “Our business hinges on our employees and their daily contributions,” says Dr. Mitscherlich. In fact, MAN Ferrostaal's business has always revolved around people and local contacts have been key to the company's growth and expansion throughout its history. MAN Ferrostaal will stay true to these beliefs as it moves forward to identify and develop new sectors and markets which fit its key competencies. The newly defined brand values - openness, dynamism, innovation and reliability - will underpin this effort on a day-to-day basis.

With 4,700 employees and sales of EUR 3.2 billion (2004), Essen-based MAN Ferrostaal AG is the Industrial Services division of the MAN Group. Serving customers in more than 60 countries, MAN Ferrostaal's businesses are Industrial Projects and Contracting, Industrial Equipment and Systems as well as Materials and Supply Chain Solutions. MAN Ferrostaal is a subsidiary of MAN Aktiengesellschaft, Munich. With annual sales of around EUR 15 billion and a workforce of 60,000 people, the MAN Group is one of Europe's leading engineering companies. MAN AG's shares are included in the DAX 30, the index of Germany's blue-chip companies.

About MAN Ferrostaal AG:

MAN Ferrostaal is a worldwide supplier of industrial services for the construction of large-scale industrial plants and machine supply. As a general contractor for plant construction, the company offers project development, project management and financing solutions for turnkey plants in the areas of solar thermal power plants as well as biofuels, petrochemical and industrial plants. In ccoperation with manufacturers of machines and production lines, MAN Ferrostaal offers sales and services in the areas of automotive industries, print and packaging, piping, ships and transport solutions. With 4,200 employees MAN Ferrostaal is represented in more than 60 countries. The company achieved a turnover of EUR 1.4 billion in 2007.

MAN Ferrostaal is a subsidiary of MAN Aktiengesellschaft, Munich. The MAN Group is one of Europe’s leading manufacturers of engineering equipment and vehicles, generating annual sales of around EUR 16 billion. MAN supplies products, systems and services to the capital goods industry and employs approx. 55,000 people worldwide. The core areas operated by the MAN Group, Commercial Vehicles, Industrial Services, Diesel Engines and Turbomachines, all hold leading positions in their markets. MAN is a member of the DAX German Share Index, Germany’s top 30 public limited companies.