The VEBA AG ( originally United Electricity and Mining Company ) was a Prussian- German state energy company, which was later converted into a publicly traded company and in 2000 went up in today's E.ON SE.
The parent company of United Electricity and Mining Company was established on March 8, 1929 by the summary of some mining companies of the Prussian state, including, founded only a few years earlier Preussag. The aim was to strengthen the weakened by the high reparations German economy and to get new investors. By Black Friday on 25 October 1929 and the following Great Depression then the goal could not be realized.
After the end of the Second World War, the VEBA was initially owned by the state, which, however, gradually privatized the company under the leadership of Rudolf von Bennigsen - Foerder 1965-1987. In 1965, the federal government for the first time shares worth about 528 million DM to the stock market. In the same year, the VEBA took over 95 percent of Stinnes AG. In 1972, the VEBA Group employed 58,300 people and generated annual sales of 10.3 billion DM
In 1974, the new headquarters was completed by the architect Hubert Petschnigg in Dusseldorf. In 1975 the acquisition of petroleum and chemical range of Gelsenkirchen Benzin AG, which was introduced in the previous Veba Chemie AG and henceforth renamed as Veba Oel AG. In June 1978 VEBA ended with the oil company BP signed a contract in which BP 3 million tons of crude oil by the year 2000 delivered to VEBA and it received shares in Gelsenberg in the amount of DM 800 million in return. In December 1982, the VEBA Oel AG signed with the Petróleos de Venezuela ( PDVSA ) signed a cooperation agreement to establish a joint venture named Ruhr Oel GmbH.
Since its introduction on 1 January 1988, the VEBA was the German stock index (DAX ) listed. 1989, the number of shareholders was 600,000. 1990 106.900 employees in the group were employed and the annual turnover amounted to 54.591 billion DM in 1992 took over the remaining five percent of the VEBA, now trading as public company Stinnes AG. In 1997, the VEBA founded together with RWE, the telecommunications company o.tel.o.
In late 1998, worked in the VEBA group about 130,000 people and generated a turnover of 42.28 billion euro. Only about 33,000 people were employed outside Germany.
With the merger on September 27, 2000 with the VIAG ended the history of the VEBA and there was the E.ON AG. The VEBA brought a Preussen Elektra, Veba Oel and Degussa - Hüls. Were sold in this framework Veba Telecom (esp. involvement with RWE in E-Plus ), MEMC (USA), Stinnes and Veba Electronics.
- Alfred Hartmann (1959-1966)
- Heinz P. Kemper (1966-1971)
- Rudolf von Bennigsen - Foerder (1971-1989)
- Klaus Piltz (1989-1993)
- Ulrich Hartmann (1993-2000)
The VEBA group in 1996 was made up of seven sub-groups and VEBA AG as a holding company. The subgroups consisted again of about 40 strategic business units.
The divisions were
- The current range with the 100 per cent subsidiary Preussen Elektra,
- The field of chemistry with Degussa - Hüls,
- The multigrade oil with the 100 per cent subsidiary VEBA OEL,
- The Distribution / Logistics with the 100 per cent subsidiary Stinnes AG ( after IPO 51 percent),
- The electronics sector with the 100 per cent subsidiary VEBA Electronics,
- The property management area with the 100 percent daughters Raab Karcher and VEBA property management and
- The field of telecommunications with the 100 per cent subsidiary Vebacom and O.tel.o ( 52.5 %).