Swiss Steel

Last updated
Schmolz + Bickenbach AG
IndustrySteel
Founded1996
Headquarters
Lucerne
,
Switzerland
Key people
Clemens Iller
(CEO)
Matthias Wellhausen (CFO)
Jens Alder
Number of employees
>10,000 (2018)
Website swisssteel-group.com/en

Schmolz + Bickenbach AG (renamed since September 2020 as Swiss Steel Holding AG and Swiss Steel Group) is a listed steel group based in Lucerne / Switzerland. The group employs more than 10'000 people and generated revenues of EUR 3.3 billion in 2018. [1]

Contents

Company history

Schmolz + Bickenbach was founded in 1919 by Arthur Schmolz and Oswald Bickenbach in Düsseldorf as a steel trading company. Since 1937, the company has been running under the double name.

In 2003, the family-run Schmolz + Bickenbach Group, which had previously been involved in steel processing and steel trading, through the leadership of Michael Storm took over the majority of the shares of Swiss Steel AG, a listed steel producer. Swiss steel was founded in Emmenbrücke in 1996. It was established as a holding company after the merger of the former competitors Von Moos Stahl and Von Roll Stahl, two Swiss steel producers. It was then joined by Von Moos Stahl AG's companies, Steeltec AG, the logistics company Panlog AG based in Emmenbrücke and Stahl Gerlafingen AG, based in Gerlafingen, which had emerged from Von Roll Holding.

In the following two years, the German steel producers Edelstahlwerke Südwestfalen (2004) and Edelstahl Witten-Krefeld (2005) were taken over. The two companies merged into Deutsche Edelstahlwerke in 2007. In 2006, 65 percent of the shares in Stahl Gerlafingen AG were sold. This was done in order to lead into a concentration on the production of high-quality steels in the long-product segment. In 2006 the French Ugitech Group, based in Ugine, was taken over.

In 2006, most of the operative parts of the parent company Schmolz + Bickenbach KG were integrated into Swiss Steel AG and renamed to Schmolz + Bickenbach AG. In 2007, the Swiss subsidiary, Von Moos Stahl, was then renamed Swiss Steel. At the beginning of February 2007, the American A. Finkl & Sons Group, based in Chicago, was purchased. With this move, the Schmolz + Bickenbach Group became the world's largest producer of tool steel. The Group is also the world leader in the production of stainless long products.

Within the scope of a capital increase, the shares of Schmolz + Bickenbach KG to the AG, fell in 2010 from 70% to almost 40%. On 23 December 2011, Storm resigned as President of the Board of Directors, after the discovery that he had misappropriated some EUR 1.5 million, approximately CHF 1.83 million. [2] [3] In 2013, the company sued Michael Storm for a repayment of EUR 9 million plus EUR 1.4 million in interest. [4]

In December 2012, high financial liabilities, which had risen to just under EUR 903 million in connection with company acquisitions and a difficult steel economy, led to a tense financial situation.

In spring 2013, a possible capital increase was announced following a group loss of EUR 157.9 million for the 2012 financial year. [1] CEO Benedikt Niemeyer and CFO Axel Euchner left the company in June 2012 due to dissonances. The family shareholders around Michael Storm, which held almost 40% of the shares in spring 2013, initially rejected a capital increase since they had reduced their share.

In August 2013 Schmolz + Bickenbach KG allied itself with Russian oligarch Viktor Vekselberg and sold a share of 25.3% of its company to Renova Group, through its subsidiary Venetos. This sale resulted in a mandatory offer to the remaining shareholders, the price of which was below the market price, and therefore only received a very low acceptance rate. Nevertheless, the company agreed with the new major shareholder. An unusual General Meeting of Shareholders in September 2013, approved a capital increase of EUR 430 million for Venetos and Schmolz + Bickenbach KG in accordance with their company's participation, and reassignment of the Board of Directors. [5]

In the summer of 2015, the Group separated itself from a part of its distribution companies in Germany, Austria and Benelux. In October, Schmolz + Bickenbach relocated the Group headquarters from the existing headquarters in Düsseldorf to the new headquarters in Lucerne. [6]

In February 2018, Schmolz + Bickenbach acquired the French steel manufacturer Ascometal.

A capital increase was announced in October 2019. [7]

In December 2020, a capital increase of approx. EUR 200 million was approved by an extraordinary General Meeting of Shareholders. A new Chairman as well as a new CEO were announced. However, Liwet Holding as an opposing shareholder blocked the registration of the new shares at the corresponding offices in Lucerne. [8]

Leadership

Shareholders

Schmolz + Bickenbach is listed on the SIX Swiss Stock Exchange. BigPoint Holding AG from Martin Haefner holds 49,6 %, Liwet Holding AG 25%. A further 25,4 % of the shares are spread out among others. Schmolz + Bickenbach Beteiligungs GmbH holds no more shares of the company. [6]

Related Research Articles

<span class="mw-page-title-main">Viktor Vekselberg</span> Russian–Cypriot oligarch and businessman (born 1957)

Viktor Felixovich Vekselberg is a Russian businessman. He is the founder and chairman of Renova Group, a Russian conglomerate. According to Forbes, as of November 2021, his fortune is estimated at $9.3 billion, making him the 262nd richest person in the world. Born in Ukraine, he has Russian, Israeli and Cypriot citizenship.

McKesson Europe

McKesson Europe AG, with its headquarters in Stuttgart, Germany, is a leading international wholesale and retail company and provider of logistics and services in the pharmaceutical and healthcare sectors. The company had around 37,000 employees at the end of the 2019 financial year and is represented in 13 countries in Europe. In the 2019 financial year the company achieved a turnover of EUR 21.18 billion. The majority shareholder of the company is the US-based McKesson Corporation, which holds a share of 77.01%. The remaining 22.99% of shares are available on the open market. Kevin Kettler, a US citizen, has been Chairman of McKesson Europe since 1 November 2018.

Emmen is a village and municipality in the district of Hochdorf in the canton of Lucerne in Switzerland. The municipality Emmen consists of the village Emmen, the town Emmenbrücke, and several hamlets.

<span class="mw-page-title-main">OC Oerlikon</span> Swiss engineering company

OC Oerlikon is a listed technology group headquartered in Pfäffikon (Schwyz), Switzerland. The name "Oerlikon" comes from the Oerlikon district in Zurich where the group has its origins.

<span class="mw-page-title-main">Swiss Life</span> Life insurance company based in Zurich, Switzerland

The Swiss Life Group is the largest life insurance company of Switzerland and one of Europe’s leading comprehensive life and pensions and financial services providers, with approximately CHF 255.7 bn of assets under management. Founded in 1857 in Zurich as the Schweizerische Lebensversicherungs und Rentenanstalt cooperative, the company entered the Swiss stock market in 1997 and adopted its current name in 2002. In 2023 the group declared an adjusted profit from operations of CHF 1.50 billion, a 1% increase compared to the previous year. Net profit increased by 8% to CHF 1.11 billion. Swiss Life is one of the twenty companies listed under the Swiss Market Index, as SLHN.

August François von Finck is a German businessman and the son of August von Finck, Jr., thus grandson of August von Finck, Sr. August François von Finck's great-grandfather Wilhelm von Finck was the co-founder of the private bank Merck Finck & Co., the insurance companies Munich Re and Allianz – the second largest international insurance and financial services organization in the world. He is a German citizen but has his official residence in Switzerland.

<span class="mw-page-title-main">Thyssen AG</span> German steel producer

Thyssen was a major German steel producer founded by August Thyssen. The company merged with Friedrich Krupp AG Hoesch-Krupp to form ThyssenKrupp in 1999.

<span class="mw-page-title-main">Porsche SE</span> German holding company

Porsche Automobil Holding SE, usually shortened to Porsche SE, is a German multinational corporation primarily known as a holding company of Volkswagen Group with investments in the automotive industry. Porsche SE is headquartered in Zuffenhausen, a city district of Stuttgart, Baden-Württemberg and is majority owned by the Austrian-German Porsche-Piëch family. The company was founded in Stuttgart as Dr. Ing. h.c. F. Porsche GmbH in 1931 by Ferdinand Porsche (1875–1951) and his son-in-law Anton Piëch (1894–1952).

<span class="mw-page-title-main">Deutsche EuroShop</span> German Real Estate Investment Company

Deutsche EuroShop AG is an internationally active German real estate investment company headquartered in Hamburg. It is the largest German investor in shopping centers, and the country's only publicly traded company to do so exclusively. At the end of 2023, the firm held investments in 21 properties in Germany, Austria, Poland, Czech Republic and Hungary.

<span class="mw-page-title-main">Zurich Cantonal Bank</span> Largest cantonal bank in Switzerland

Zurich Cantonal Bank is the largest cantonal bank and fourth largest bank in Switzerland, with total assets of over CHF 150 billion.

<span class="mw-page-title-main">Erste Group</span> Austrian multi-national bank

Erste Group Bank AG is an Austrian financial service provider. It is one of the largest financial service providers in Central and Eastern Europe serving more than 16 million clients in over 2,000 branches in seven countries. Erste Group is headquartered in Vienna and operates as a universal bank.

<span class="mw-page-title-main">Wendel (group)</span> French investment company

Wendel is a French investment company. The company is managed by Laurent Mignon, Group CEO, and David Darmon, Group Deputy CEO. Since July 2018, the chairman of the supervisory board is Nicolas ver Hulst.

<span class="mw-page-title-main">Sunrise LLC</span> Swiss telecommunications company

Sunrise LLC, doing business as Sunrise, is a Swiss telecommunications provider based in Zurich, owned by Liberty Global. It provides mobile, TV and landline phone and internet services. Since February 2019, Sunrise headquarters are located at Thurgauerstrasse 101b, Glattpark Opfikon. Formerly a subsidiary of TDC A/S, Sunrise had been owned by CVC Capital Partners until 2015. In February 2015, CVC realised an IPO on the SIX Swiss Exchange. Since then, Sunrise stocks are publicly traded at the Swiss Stock Exchange. In August 2020, Liberty Global announced that it will be acquiring Sunrise for $7.4 billion. The transaction was completed on November 11, 2020.

A-TEC Industries AG was an international industrial holding company based in Vienna, Austria. It belonged to the Austrian industrialist Mirko Kovats. A-TEC was quoted on the Vienna stock exchange from the end of 2006 until February 2014. In 2007, the group of companies accounted for nearly 14.000 employees and had a turnover of more than 2 billion Euro. A-TEC was active in the areas of power plant construction, drive technology, industrial engineering and minerals & metals.

Martin Walter Haefner is a Swiss billionaire, the son of Walter Haefner.

Paragon Partners is a European private equity company based in Munich, Germany. It was founded in 2004 and is owner-managed. Paragon focuses on medium-sized companies with an established business model. Investors comprise institutional investors such as life insurance companies and pension funds.

Meyer Burger Technology AG is an industrial manufacturer of solar cells and solar modules, headquartered in Gwatt, a district of Thun, Switzerland. The company's registered shares are listed on the SIX Swiss Exchange.

Bergfürst AG is a German equity crowdfunding firm, financial services provider and former bank headquartered in Berlin, Germany.

Walter von Moos was a Swiss industrialist and majority owner of von Moos Steel, which in 1996 became Swiss Steel and subsequently in 2006 merged with Schmolz + Bickenbach. The company was one of the oldest privately owned manufacturing companies in Switzerland.

Scout24 SE is a German publicly-listed digital company headquartered in Munich, operating the online marketplace ImmoScout24. The ImmoScout24 multi-platform attracted over 20 million visitors monthly in Germany in 2021, either through the website or the app.

References

  1. 1 2 "Lagebericht" (PDF). Schmolz + Bickenbach. 2018. Retrieved 1 May 2019.
  2. ↑ "Rücktritt des Verwaltungsratspräsidenten der Schmolz+Bickenbach AG" (PDF). Schmolz+Bickenbach AG. 23 December 2011. Archived from the original (PDF) on 7 April 2014. Retrieved 11 May 2020.
  3. ↑ "1,5 Mio. Euro veruntreut: Schmolz + Bickenbach-Präsident tritt zurück". Schweizer Fernsehen. Retrieved 11 May 2020.
  4. ↑ Andreas Flütsch (15 May 2013). "Wie Schmolz+Bickenbach Millionen für Jagdgebiete ausgab". Tagesanzeiger. Retrieved 3 October 2017.
  5. ↑ Giorgio V. Müller (27 September 2013). "Viktor Vekselberg übernimmt Zügel bei Schmolz + Bickenbach". Neue Zürcher Zeitung. Retrieved 3 October 2017.
  6. 1 2 "Geschäftsbericht 2015" (PDF). Schmolz + Bickenbach. 2015. Retrieved 3 October 2017.
  7. ↑ "S+B leidet unter Abschwung und braucht Kapital - Prognose erneut tiefer". finanzen.ch. 23 October 2019. Retrieved 11 May 2020.
  8. ↑ Dominik Feldges (23 December 2020). "Swiss Steel darf die Chance auf einen Neuanfang nicht verspielen". Neue Zürcher Zeitung. Retrieved 23 December 2020.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.