KHD Humboldt Wedag is an engineering company that supplies machinery, parts, and services, including process engineering and project management to the global cement industry. The holding company KHD Humboldt Wedag International AG, based in Cologne, Germany employs more than 750 employees[1] worldwide, including customer service centers in the Americas, India, Russia, and the Asia-Pacific region.
 | |
| Company type | Publicly traded |
|---|---|
| FWB: KWG | |
| Industry | Engineering |
| Founded | 1856 |
| Headquarters | , |
Key people | Hubert Keusch(Chairman), Juergen Luckas (CFO), Yizhen “Mario” Zhu (EVP), Daniel Uttelbach, Sales & Technology (EVP) |
| Products | Machinery, systems and services for the cement industry |
| Services | Plant Services, Spare parts, Process Engineering, Project Management |
Number of employees | 750 employees[1] |
| Website | khd.com |
KHD Humboldt Wedag International AG is listed on the Frankfurt Stock Exchange.[2]
History
editIn 1856, Hermann Sievers, Wimmar Breuer and Martin Neuerburg formed a general partnership, under the name of Maschinenfabrik von Sievers & Co[3] Humboldt Wedag AG, formed in 1859[4] was formerly the industrial plant arm of Deutz AG.[5][6]
In 1871, the company changed its name to Maschinenbau Anstalt Humboldt in honor of the famous German Scientist Alexander von Humboldt. In December 1924, under the direction of Peter Klöckner, the company entered into a cooperative agreement with Motorenfabrik Deutz AG which would later become Humboldt-Deutz-Motoren AG. Peter Klöckner secured approximately 78% of the capital of Humboldt-Deutz-Motoren AG and an agreement was made to bind the company firmly to Klöckner Werke AG, as a subsidiary. In 1938, after a deal with Klöckner Werke AG, the company changed their name to Klöckner Humboldt Deutz AG.[7][8][9]
In the spring of 1969, the plant construction division was extended through the acquisition of a majority holding in Westfalia Dinnendahl Gröppel AG (Wedag) of Bochum. Further in 1972, Wedag and Humboldt merged to become KHD Industrieanlagen AG.[10]
In 1988, after economic problems caused by misjudgments and bad investments combined with an unfavorable economic climate, the KHD group began a radical restructuring based on strategic business units, with KHD AG continuing to operate as a managing holding company. The group began showing a profit in 1989.[11]
In 1993, KHD Humboldt Wedag acquired ZAB Zementanlagen und Maschinenbau GmbH.[12]
Later in 2005 the company was acquired by MFC Bancorp; after its successful recovery, the holding company itself changed its name to KHD Humboldt Wedag International Ltd.[13][14]
In 2009, KHD Humboldt Wedag divested its two subsidiaries, MBE Coal & Minerals Technology and MBE Cologne Engineering, to concentrate on cement.[15][16]
In 2010, the company split into Terra Nova and KHD Humboldt Wedag International AG.[17]
In February 2011, KHD and AVIC Beijing Co. Ltd signed a strategic partnership agreement.[18]
In April 2013, KHD signed an exclusive and perpetual license agreement with Weir Minerals for HPGR (high pressure grinding rolls) technology. KHD would receive royalty payment on equipment sales.[19][20]
In Sept 2013, AVIC International Beijing Limited bid to acquire further 19.03% of shares in KHD Humboldt Wedag International AG. On the completion of these transactions, AVIC will hold total 39.03% of the shares in KHD.[21]
In Dec 2013, a joint statement by the management and supervisory Board said they welcome AVIC's aim to continue its support of KHD's current growth strategy and to maintain the commercial identity of the KHD Group.[22]
Business concept
editApart from process engineering and project management, the company's products are classified into grinding technology, burning technology and process automation. The company also has a centralized test center in Cologne and a dedicated spare parts and plant services division.[23]
References
edit- ^ a b "KHD 2013 Fact Sheet"[permanent dead link]
- ^ Buergin, Rainer (16 February 2011). "Daimler, KHD Humboldt Wedag, SAP: German Equity Market Preview". Bloomberg L.P. Retrieved 21 May 2013.
- ^ Henze, Anton; et al. (1982). Nordrhein-Westfalen: Kunstdenkmäler und Museen (in German) (6th ed.). Stuttgart: Reclam. p. 430. ISBN 9783150084021.
- ^ World Trade Centers Association World Business Directory Volume 1, Detroit: Gale, 1996, ISBN 9780810356788, p. 1685.
- ^ International Directory of Company Histories Volume 39, ed. Tina Grant, Detroit: Gale, 2001, ISBN 9781558624443, p. 122.
- ^ "Kein Käufer für die Wedag", Manager Magazin, 10 November 1999 (in German)
- ^ Kellenbenz, Hermann (1975). Vom 18. Jahrhundert bis zur Gegenwart. Köln: Greven. p. 405. ISBN 9783774301191.
- ^ Jung, Werner (2006). Das moderne Köln: 1914–2005; vom Ersten Weltkrieg bis heute. Der historische Stadtführer (in German). Cologne: Bachem. p. 265. ISBN 9783761618615.
- ^ Jung, Werner (2004). Das neuzeitliche Köln: 1794–1914; von der Franzosenzeit bis zum Ersten Weltkrieg. Der historische Stadtführer (in German). Köln: Bachem. p. 200. ISBN 9783761615904.
- ^ Hast, Adéle (1991). International directory of company histories. St.James Press. p. 543. ISBN 9781558620599.
- ^ KHD Konzern
- ^ Letter to Shareholders, p 16
- ^ Matt Rand, "Gurus Buy Into Europe, Sell Technology", Forbes, 8 November 2005.
- ^ Richard Gibbons, "A Potential 10-Bagger", The Motley Fool, 13 July 2007.
- ^ "Humboldt Wedag: Kein weiterer Stellenabbau" Archived 2013-10-08 at the Wayback Machine, Köln Nachrichten, 30 June 2010 (in German)
- ^ "KHD Humboldt Wedag International Ltd. Announces the Completion of the Sale of Its World-Wide Coal and Minerals Operations and Its Manufacturing Facility in Cologne", Press release, Reuters, 8 October 2009.
- ^ Company History, MFC Industrial Ltd., 2011.
- ^ Annual Report 2011, p4
- ^ Nasdaq OMX
- ^ FinanzNachrichten
- ^ "Home | Financial Post Home Page | Financial Post".
- ^ "KHD recommends shareholders accept AVIC offer". 6 December 2013.
- ^ " Reuters"