On June 2, 1998, Salzgitter AG took the bold step of going public in the face of a great deal of criticism and doubt. In doing so, it opened a completely new chapter in the company's then 140 year history.
Despite the manifold political and economic challenges at the time, the ability of the new company to exist in a state of permanent independence raised doubts on many fronts. We nevertheless took this intrepid step and, in our 1998 Annual Report, made the following statement:
We are starting from a good basis and will stand our ground, also in the face of a deterioration in the economic environment.
Since seizing the opportunity in 1998 of going down the path of independence, with the support of the then government of Lower Saxony, a great deal has happened: from the acquisition of the Mannesmannröhren-Werke in 2000 and of Klöckner-Werke in 2007, building up a participating investment in Aurubis, Europe’s largest copper producer, during the years of the steel boom right through to the financial market crisis and the structural crisis of Europe’s steel market – in all these years, we have never shied away from the challenges and operate mindfully in this environment but with the necessary self-confidence.
Our corporate strategy geared to the long-term success of the company to the benefit of all its stakeholders has proven its worth, also in the face of more severe upheavals. With our programs of measures implemented since 2012, we have laid the basis for a continued and prosperous future. Today we can ascertain the following, which we did in this year’s 2017 Annual Report:
Twenty years ago there were not many who believed Salzgitter capable of treading this path.
Today there is not a soul who doubts that we have achieved success while equally creating an equally sound basis through our own endeavors, and that we are therefore able to exist in a state of independence.
Learn more about the 20 years between 1998 and 2018 by moving the cursor along the share price chart.