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Ferrostaal is a German-owned industrial services company. It has 4,400 employees and an annual turnover of around 1.6 billion euros (2008), and has a market presence in around 40 countries. The company's activities are focused in two areas: Projects (Petrochemicals, Industrial Plants, Solar Energy and Power) and Services (Equipment, Piping, Automotive). In 2009, the
International Petroleum Investment Company Mubadala Investment Company PJSC ( ar, شركة مبادلة للاستثمار), or simply Mubadala, is an Emirati state-owned holding company that acts as a sovereign wealth fund. The company was established in 2017 when then-named Mubadala De ...
(IPIC) of Abu Dhabi took over 70% of the shares of Ferrostaal AG from
MAN AG MAN Truck & Bus SE (formerly MAN Nutzfahrzeuge AG, ) is a subsidiary of Traton, and one of the leading international providers of commercial vehicles. Headquartered in Munich, Germany, MAN Truck & Bus produces vans in the range from 3.0 to 5.5 t ...
, Munich. Due to the acquisition of the majority shares, the company entered the commercial register as Ferrostaal, signifying its separation from the MAN Group.


History

Ferrostaal was founded in The Hague, Netherlands, in 1920. The steel trading company was bought by Gutehoffnungshütte Aktienverein (GHH) in 1926. Over time Ferrostaal expanded into more countries, and had a presence in the international steel trade from the 1950s onwards. During the 1960s the company started building industrial plants. Until the end of the 1960s, Ferrostaal was also a manufacturer of diesel
railcar A railcar (not to be confused with a railway car) is a self-propelled railway vehicle designed to transport passengers. The term "railcar" is usually used in reference to a train consisting of a single coach (carriage, car), with a drive ...
s and
railbus A railbus is a lightweight passenger railcar that shares many aspects of its construction with a bus, typically having a bus (original or modified) body and four wheels on a fixed base, instead of on bogies. Originally designed and developed d ...
es. 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. In March 2012, MAN SE announced the sale of Ferrostaal AG to the MPC Group. Since March 2012 Ferrostaal has been owned by MPC Industries GmbH and the company's name has been changed to Ferrostaal GmbH.


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External links

* * {{Authority control MAN SE Steel companies of Germany Privately held companies of Germany Companies based in Essen Energy companies of Germany es:MAN Ferrostaal