| Type | Public company: AG |
|---|---|
| Industry | Industrial Services and Machinery Supply |
| Headquarters | Essen, Germany |
| Number of locations | more than 60 countries worldwide |
| Area served | global |
| Key people | CEO: Jan Secher, |
| Products | Biofuels, Petrochemicals, Solar Power, printing machinery, food processing and packaging converting, etc |
| Services | industrial services |
| Revenue | € 1,6 billion (2008)[1] |
| Employees | 4,400 (2008) |
| Website | Homepage |
Ferrostaal is a provider of industrial services. With 4,400 employees and an annual turnover of euro 1.6 billion euro (2008), Ferrostaal serves customers in more than 60 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]
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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.
Ferrostaal consists of the divisions Projects and Services. Projects is responsible for the construction of large plants. In the Services division the company acts as a sales and service partner for Original Equipment Manufacturers (OEMs). Each division consists of several individual business units.