Deutsche Babcock

Babcock Borsig AG was formed in 2001 by merging the Babcock -Borsig Aktiengesellschaft with the BDAG Balcke -Dürr AG. It is now a corporate shell that is left within the opened 1 September 2002 bankruptcy.

History

The merger-related change of name of Babcock Borsig AG in Babcock Borsig AG was only a last act in the colorful history of this company. Headquarters was consistently Oberhausen.

The construction (1898-1945)

The name comes from the Babcock founded in London in 1891, Babcock and Wilcox Ltd.. , The 1898 Deutsche Babcock & Wilcox Boiler Works joint-stock company founded with registered capital of 2 million Reichsmark and hereto held 51 % of the shares. For the first time in 1909 shares of Deutsche Babcock & Wilcox steam boiler plants on the Berlin Stock Exchange were traded. In the following years and decades, Babcock was characterized by various innovations in the field of boiler construction, such as the dust firing first in the world for a boiler and the construction of the first Benson boiler. In 1939, the Deutsche Babcock & Wilcox steam boiler plants were placed under the Reich Commissioner for the treatment of enemy property because of the British majority stake. On March 25, 1945 presented the Babcock - works a their work, but were spared because of the British majority stake of disassembly. In the same year, production was resumed.

The expansion (1945-1975)

1970 acquired Babcock Borsig company. Could this majority stake to a quick resumption of production in Oberhausen contribute, it was more of a hindrance in the coming decades: Despite widespread discontinuation agreed with the British company boundaries in the wake of the introduction of the European Economic Community, the British parent company retained the world's major markets outside Europe before. Remedy could be achieved only in 1975, when Iran the British bought from a stake of 25.02 % in Deutsche Babcock AG. This opens the way on major markets outside Europe was set free. Due to the continued growth of the Group was started in 1966, according to the business areas of mechanical engineering, structuring process and environmental and energy- technical engineering.

Further expansion (1975-1999)

A priority project was in this phase the delivery of the reactor system at in the sequence only relatively short operating nuclear power plant in Mülheim -Kärlich. Restructuring should in the next few decades part of everyday life: In 1981, the German Babcock AG became a pure holding company, which in the meantime had to manage several hundred subsidiaries. Beginning of the 80s benefited the German Babcock of the emerging environmental awareness, more stringent emission values for industrial plants and increased efficiencies ensured full order books. 1987 sold his shares of Iran, these were widely distributed. In 1988, the German Babcock AG was a founding member of the introduced by Deutsche Börse German stock index, which tracks the price performance of the 30 largest German companies. The shares of Deutsche Babcock AG was on 15 September 1995, the first value of the " descent " from the Dax: Due to low market capitalization, SAP AG replaced the stock, which was then listed on the M DAX. 1997, there was a major realignment of the corporate structure, there were seven areas created by the operating business segments, into which the respective Group companies were filed.

Development to " Babcock Borsig AG " and crisis (1999-2002)

In 1999, the German Babcock AG, the industrial and shipyard business Preussag, Preussag was thus a major shareholder in the now operating as Babcock Borsig AG company. In 2001 this corporation and its wholly-owned subsidiary BDAG Balcke -Dürr AG were merged together to Babcock Borsig AG.

Mid- 2002, the Babcock Borsig AG acute financial difficulties known. In addition to the then Prime Minister of North Rhine -Westphalia, Wolfgang Clement also the then Chancellor Gerhard Schröder tried to rescue the group. On 4 July 2002, the Group declared insolvent and placed before the District Court of Duisburg for the opening of insolvency proceedings. At this time, approximately 20,000 people worked for the companies managed by the Babcock -Borsig AG. On 1 September 2002, the insolvency proceedings over the assets of Babcock Borsig AG was opened. It was here the first major insolvency proceedings in Germany, the self-administered (Managing Director of the essential operating companies: Hans -Gerd Jauch ) was performed according to the then still fairly new Insolvency Act.

Large parts of the company were sold and continue to operate remained the shell of the holding company Babcock Borsig AG iI, which is March 1, 2004 at the regulated insolvency proceedings.

The field of energy technology has been operating since 2004 as the Hitachi Power Europe GmbH, headquartered in Duisburg.

In 2005 all shares of Babcock Borsig Service were adopted by the Bilfinger Berger AG, Mannheim. With the growth of established Bilfinger Berger 2006, a separate business unit with Bilfinger Berger Power Services GmbH as lead company.

Significant investments

In its long history the German Babcock and Babcock Borsig AG was involved, among others, to partially significant shares in the following companies:

HDW - German shipyard
Balcke Dürr GmbH
United Kesselwerke
Lufthansa building management
Schumag
Omnical
Babcock -BSH
L. & C. Steinmueller, Gummersbach
Nordex

(As of July 9, 2013 )

Companies ( Oberhausen )
Steam boiler manufacturer
Companies in the DAX ( former)

Pictures of Deutsche Babcock

Boiler (power generation) Allied plans for German industry after World War II Amtsgericht Continental AG Deutsche Post Deutsche Telekom The Linde Group Salzgitter AG

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