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| {{Infobox company | {{Infobox company | ||
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|name = KHD Humboldt Wedag | ||
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|logo = KHD Humboldt Wedag.png | ||
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|logo_size = 220px | ||
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|type = ] | ||
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|traded_as = {{Frankfurt Stock Exchange|KWG}} | ||
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|industry = ] | ||
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|foundation = 1856 | ||
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|founder = | ||
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|location_city = ] | ||
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|location_country = ] | ||
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|area_served = | ||
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|key_people = Hubert Keusch(]), Juergen Luckas (]), Yizhen “Mario” Zhu (]), Daniel Uttelbach, Sales & Technology (]) | ||
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|products = ]ry, systems and ] for the ] industry | ||
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|services = Plant Services, ]s , ], Project Management | ||
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|revenue = | ||
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|operating_income = | ||
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|net_income = | ||
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|assets = | ||
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|equity = | ||
| |num_employees = 750 employees<ref name="khd">{{Dead link|date=February 2020 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>|subsid = | |||
| | num_employees = 880 employees | |||
| |homepage = {{URL|http://www.khd.com|khd.com}} | |||
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| |footnotes = | |||
| | homepage = {{URL|http://www.khd.com|khd.com}} | |||
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| }} | }} | ||
| '''KHD Humboldt Wedag''' |
'''KHD Humboldt Wedag''' is an ] company that supplies ]ry, parts, and ], including ] and ] to the global ] industry. The holding company '''KHD Humboldt Wedag International AG''', based in ], Germany employs more than 750 employees<ref name="khd" /> worldwide, including customer service centers in the ], ], ], and the ] region. | ||
| '''KHD Humboldt Wedag International AG''' is listed on the ].<ref>{{cite news|url=https://www.bloomberg.com/news/2011-02-16/daimler-khd-humboldt-wedag-sap-german-equity-market-preview.html|title=Daimler, KHD Humboldt Wedag, SAP: German Equity Market Preview|last=Buergin|first=Rainer|date=16 February 2011|work=]|accessdate=21 May 2013}}</ref> | |||
| Based in ], ], the company employs more than 850 people worldwide, operating subsidiaries covering the ], ], the ], and the ], as well as sales offices in ], ], and ].<sup></sup> | |||
| The holding company '''KHD Humboldt Wedag International AG''' is listed on the ].<sup></sup> | |||
| == History == | == History == | ||
| In 1856, ], ] and ] formed a general partnership, under the name of Maschinenfabrik von Sievers & Co<ref name="Maschinenfabrik von Sievers & Co">{{cite book|last1=Henze |first1=Anton |title=Nordrhein-Westfalen: Kunstdenkmäler und Museen |year=1982 |publisher=Reclam |location=Stuttgart |isbn=9783150084021 |page=430 |url=https://books.google.com/books?id=Q3tIAQAAIAAJ&q=KHD |edition=6th |language=German|display-authors=etal}}</ref> Humboldt Wedag AG, formed in 1859<ref>''World Trade Centers Association World Business Directory'' Volume 1, Detroit: Gale, 1996, {{ISBN|9780810356788}}, .</ref> was formerly the industrial plant arm of ].<ref>''International Directory of Company Histories'' Volume 39, ed. Tina Grant, Detroit: Gale, 2001, {{ISBN|9781558624443}}, .</ref><ref>, ''Manager Magazin'', 10 November 1999 {{in lang|de}}</ref> | |||
| '''Early Years: 1856 - 1914''' | |||
| KHD traces its roots back to 1856 and the foundation of Maschinenfabrik für den Bergbau von Sievers & Co. by Martin Neuerberg, Wimmer Breuer, and Hermann Sievers in the Cologne suburb of Kalk.<sup></sup> The company initially focused on the manufacture of perforated steel sheets for screens, jigs, and percussion tables used in the ] industry. Under the inventive leadership of Neuerberg, the product range soon expanded and the company quickly established a name for itself within the European ] industry.<sup></sup> | |||
| By 1867, the company had grown sufficiently to the point it could install a large-scale ]-] sorting facility at the Holzappel Mine, incorporating several roller and stamping mills, 32 jigs, and associated steam engines and boilers.<sup></sup> It was also active in the regional ] industry, building 100 ] facilities by 1881.<sup></sup> | |||
| A decade earlier, in 1871, the company had adopted one of the names with which it would be associated to this day: ] in honor of German scientist, ].<sup></sup> | |||
| The late 1800s was a period of restructuring and diversification for the company after rapid expansion in 1860s. By the mid-1880s, the company was building complete ] facilities for ] and cold storage ].<sup></sup> Other ventures included: | |||
| * Humboldt Steel Construction, which built the ] in the late 1870s. | |||
| * Equipment and plants for the ], ], ], and cable and ] industries. | |||
| * ] plants. | |||
| * ] and tube dryers.<sup></sup> | |||
| In 1897, the company moved into the manufacture ].<sup></sup> It soon received an order for 25 locomotives from the German national railway. Production would peak at 150 locomotives per year and would be the mainstay of the business until ]. The company would also supply ] for Germany’s substantial ].<sup></sup> | |||
| '''1914 – 1945: becoming KHD''' | |||
| The outbreak of war put an abrupt end to the early ] boom at the Humboldt ]. Although production of locomotive and railway cars increased and the company began production of armaments, it faced challenges sourcing spare parts for its machinery.<sup></sup> Skilled labor was also in short supply with ] and ] drafted in to work at the company’s facilities. | |||
| These wartime challenges were soon overtaken by the crisis experienced at the end of the war, as ] and ] took their toll on the German economy. It was at this time that ], an expert in company restructuring and who had been Chairman of the Humboldt Supervisory Board since 1915, began to have a significant influence on the company’s development.<sup></sup> | |||
| To keep the Humboldt factory afloat through the 1920s, Klöckner reduced the capacity and diversity of machines being manufactured and built a strategic relationship with nearby Motorenfabrik ], another company with which he had strong associations.<sup></sup> Deutz was looking to expand its capacity at the time and began to pass on assembly contracts for ] and locomotives to Humboldt. | |||
| At the same time, Humboldt took over the design and manufacture of ] production equipment from another Klöckner enterprise, his Mannstaedt factory in ]. In 1938, this association was formalized with the founding of Klöckner-Humboldt-Deutz AG.<sup></sup> The company has been known by these initials ever since. | |||
| During ], KHD again switched to a wartime footing, manufacturing vehicles for the ]. The company relied on ] through the war. In 2000, the company recognized its moral responsibility for the use of forced labor, becoming a founding a member of the ], which supported claims for compensation by victims of the ].<sup></sup> | |||
| '''1945 onwards: continuity and change''' | |||
| The post-war period would be one of ] and global expansion at KHD. In the decade between 1945 and 1956, the company would develop heavy-liquid flotation technology and the baffle plate thickener for mineral processing, as well as the suspension heat exchanger for the cement industry.<sup></sup> This latter innovation would lay the ground for the company’s future role as a builder of cement plants. | |||
| In the second half of the 20th century, KHD developed a range of technologies that would define the cement and mineral processing industries.<sup></sup> In the cement industry, the company’s innovations included: | |||
| * The introduction of the ] in 1953, based on a Czech patent.<sup></sup> | |||
| * The first heat exchanger with calciner technology at Dotternhausen cement plant in 1965.<sup></sup> | |||
| * Installation of the first short rotary kiln at Spenner cement plant in 1980.<sup></sup> | |||
| * Developments in grate ] technology and the launch of a walking floor cooler in 2005.<sup></sup> | |||
| * The introduction of the roller press for cement grinding at the Lengerich cement plant in 1985.<sup></sup> | |||
| In the coal and mineral processing industries, KHD developed high-intensity ], as well as improvements to vibrating mills and jigs.<sup></sup> In addition, it continued to supply equipment to the ], environmental technology, chemicals, and ] construction industries.<sup></sup> | |||
| In the spring of 1969, the company acquired the final piece of its modern name when it bought a majority holding in ] (Wedag) of ].<sup></sup> | |||
| As the 20<sup>th</sup> Century drew to a close, however, the company was brought to crisis point after taking substantial losses on three cement projects in ]. Consequent restructuring and a string of divestments would see the company focus on its cement and mineral processing businesses. The latter would be divested in 2009 as MBE Coal & Minerals Technology and MBE Cologne Engineering, leaving KHD to concentrate solely on cement.<sup> </sup> | |||
| '''The 21<sup>st</sup> Century''' | |||
| KHD survived the crisis of the late 20<sup>th</sup> Century. Into the new millennium, it continued its tradition of developing new technologies. | |||
| Through the first two decades of the 21<sup>st</sup> Century, the company launched a range of technologies aimed at reducing the environmental impact of cement production, notably to cut ] emissions and to enable higher rates of ] use at cement plants. | |||
| This time period also saw increasing moves by the cement industry to cut its ] as part of global efforts to mitigate the impacts of climate change under the ]. In 2023, KHD launched its Cement beyond Carbon vision, acknowledging that the task to cut emissions had become the driving force within the cement industry and would continue to be so in coming decades.<sup></sup> | |||
| The Cement beyond Carbon strategy comprises two distinct timeframes:<sup></sup> | |||
| * The period to 2030 during which existing and soon-to-be-commercialized technologies are rolled out to reduce greenhouse gas emissions. This includes technologies to increase the use of alternative fuels up to 100%, the use of ] in cement, and the switch to ] to support ]. | |||
| * The period post-2030 when new technologies take the cement industry to ]. | |||
| Supporting the journey to net zero and empowered by the emergence of the ] and advanced ], KHD also invested heavily in digital technologies that optimize the cement-making process and support the integration of the solutions noted above. These latest digital advances build on the company’s more than five decades’ experience in cement plant automation dating back to the 1970s and its XPERT systems.<sup></sup> | |||
| == Global operations == | |||
| KHD began ] its equipment in the 1860s, initially to neighboring ] countries, and then further afield to ] and ] in the 1870s, and later India, ], and Turkey, among others. The company was also early to establish sales offices in key markets, supported by travelling engineers.<sup></sup> | |||
| At the turn of the 20<sup>th</sup> Century, export conditions become more difficult. In response, KHD established ] abroad and, by 1909, there were branches in ], ], ], and ]. ] would follow later. However, the outbreak of war in 1914 had a chilling effect on the company’s international activities: it was only after 1945 that its involvement in the export market would surpass pre-1914 levels. <sup></sup> | |||
| Although the immediate post-war years were marked by reconstruction of its German business, international activities were soon up and running again with KHD supplying mechanical equipment to the Sivan cement plant in Turkey in 1949. Exports continued apace through the 1950s until they came to account for more than half of the company’s orders. The 1960s saw another retrenchment however as key European markets were lost as mining operations on the continent were dramatically reduced.<sup></sup> | |||
| The 1960s also saw a change that would shift the way KHD operated in international markets. Increasing ] and ] costs reduced the competitiveness of its products abroad; it also faced growing competition from local firms.<sup></sup> KHD’s response was twofold: it began to work with local partners and to re-establish subsidiaries in key markets.<sup></sup> | |||
| The first of these new subsidiaries – Humboldt Wedag Inc. – was formed in the ]. KHD had become well known to American cement companies thanks to its preheater, which had been marketed in the USA by licensee Fuller Co. The company opened its first sales office near ] in 1974, switching location to ] in the 1980s, where it remains today.<sup></sup> | |||
| The company would also look east to ]. KHD had been supplying equipment to the Indian mining sector since the 1960s, establishing its own workshop serving its mining clients in 1979.<sup></sup> But for the cement industry, it would take a different tack, having a long-running cooperation agreement with Indian engineering company, CIMMCO, from the late 1970s through until the 1990s.<sup></sup> | |||
| In 2000, however, it established its own cement subsidiary located in ]: Humboldt Wedag India Pvt Ltd.<sup></sup> This was followed in 2006 by the opening of a workshop in ], where the company now operates a number of manufacturing and maintenance facilities, including a state-of-the-art production and refurbishment facility for roller press rollers. <sup></sup> | |||
| Continuing to look East, KHD established a Chinese subsidiary in ]. KHD Humboldt Wedag Machinery Equipment (Beijing) Co. Ltd gave the company a foothold in the world’s largest cement market as the Chinese construction industry was booming. | |||
| From its Beijing location, KHD serves the entire domestic market of China. | |||
| Meanwhile, the 1990s saw KHD strengthen its presence in the former ] with the acquisition of ZAB, a company with a history that mirrors KHD’s own. | |||
| Cold Founded in 1870 as G. Polysius Eisengießerei und Maschinenfabrik, it became widely known for its mineral processing and cement production equipment. However, its location in ], ], resulted in its conversion to a Soviet joint stock company during the ]. After the fall of the Soviet Union, it was reformed as Zementanlagen- und Maschinenbau GmbH and was bought by KHD in 1993.<sup></sup> | |||
| == Corporate affairs == | |||
| '''Corporate structure''' | |||
| KHD is administered via a central ], KHD Humboldt Wedag International AG, which is headquartered in Cologne, Germany, and is listed on the Frankfurt Stock Exchange. | |||
| The Cologne headquarters houses all central group functions, including the Center of Excellence, as well as Humboldt Wedag GmbH, the company’s subsidiary for EMENA & APA. Four regional subsidiaries cover remaining key markets: | |||
| * CIS/Central Asia: ZAB Zementanlagenbau GmbH Dessau) in Dessau, Germany. | |||
| * India and SSA: Humboldt Wedag India Pvt Ltd in New Delhi, India. | |||
| * Americas: Humboldt Wedag Inc. in Atlanta, USA. | |||
| * China: KHD Humboldt Wedag Machinery Equipment (Beijing) Co. Ltd in Beijing, China. | |||
| Humboldt Wedag GmbH also houses the company’s three regional sales offices in: ], Türkiye; Dubai, ]; and ], Iran. | |||
| '''Center of Excellence and Technical Center''' | |||
| ] has been a feature of KHD’s operating principles since the early days under Martin Neuerberg and Wimmer Breuer. In the 19<sup>th</sup> Century, Neuerberg built a test stand to test new machines and technologies for individual contracts. A research center was constructed about 1912 at the same location and became the center for innovation for the company, with research staff undertaking laboratory and prototype testing of new processes and equipment. <sup></sup> | |||
| The research center moved into new facilities in 1995 and would continue to grow through the 20<sup>th</sup> Century as the company entered new market segments. In 1982, the research division moved again to a larger complex in Cologne-Porz. It stayed here until 2001, when it was moved back to its original location in the Kalk district of Cologne.<sup></sup> | |||
| Today’s KHD Center of Excellence and Technical Center are the descendants of Neuerberg’s original test stand. Located at group headquarters in Cologne, the Center of Excellence provides the company’s regional subsidiaries with process engineering, plant layout, and machine design support. It also houses the Technical Center, which plays a key role in ensuring the company’s latest developments work in real-world conditions. The Technical Center also provides small-batch up to industrial-scale testing of raw materials as the basis for grinding plant design and machine selection. | |||
| '''Management''' | |||
| As per German ] and governance code for ], KHD is managed by a two-tier board structure:<sup></sup> | |||
| * The ] is responsible for day-to-day running of the company. | |||
| * The ] is responsible for supervision and control of the management board. | |||
| As of March 2024, the management board of KHD comprises: | |||
| * Jianlong Shen, ] | |||
| * Jürgen Luckas, ] | |||
| * Matthias Jochem, ] | |||
| * Matthias Mersmann, ] | |||
| As of March 2024, the KHD supervisory board comprises: | |||
| * Jiayan Gong, Chairman | |||
| * Gerhard Beinhauer, Vice Chairman | |||
| * Xiaodong Wu | |||
| * Jingnan Yang | |||
| The management board is assisted by the general managers of KHD’s subsidiaries: | |||
| * André Sybon, general manager for the KHD Center of Excellence, Humboldt Wedag (Germany) | |||
| * Rainer Krüper, general manager for sales and execution, Humboldt Wedag (Germany) | |||
| * Ashok Dembla, general manager, Humboldt Wedag India Pvt Ltd | |||
| * Dwayne Holland, general manager, Humboldt Wedag Inc. | |||
| In 1871, the company changed its name to ] in honor of the famous German Scientist ]. In December 1924, under the direction of ], the company entered into a cooperative agreement with ] 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 ], as a subsidiary. In 1938, after a deal with Klöckner Werke AG, the company changed their name to Klöckner Humboldt Deutz AG.<ref name="Kellenbenz, Hermann (Hrsg.): Zwei Jahrtausende Kölner Wirtschaft">{{cite book|last=Kellenbenz|first=Hermann|title=Vom 18. Jahrhundert bis zur Gegenwart|year=1975|publisher=Greven|location=Köln|isbn=9783774301191|page=405}}</ref><ref name="Jung, Werner: Das moderne Köln. Der historische Stadtführer, Köln 2006">{{cite book |last=Jung |first=Werner |title=Das moderne Köln: 1914–2005; vom Ersten Weltkrieg bis heute |series=Der historische Stadtführer |year=2006 | publisher=Bachem |location=Cologne |isbn=9783761618615 |page=265 |language=German}}</ref><ref>{{cite book|last=Jung|first=Werner|title=Das neuzeitliche Köln: 1794–1914; von der Franzosenzeit bis zum Ersten Weltkrieg |series= Der historische Stadtführer |year=2004 |publisher=Bachem|location=Köln|isbn=9783761615904 |page=200 |language=German}}</ref> | |||
| * Wolfgang Pajonke, general manager, ZAB Zementanlagenbau GmbH Dessau | |||
| In the spring of 1969, the plant construction division was extended through the acquisition of a majority holding in ] (Wedag) of ]. Further in 1972, Wedag and Humboldt merged to become KHD Industrieanlagen AG.<ref>{{cite book|last=Hast|first=Adéle|title=International directory of company histories|year=1991|publisher=St.James Press|page=543|isbn=9781558620599|url=https://books.google.com/books?id=mXgRAQAAMAAJ&q=%22Wedag+and+Humboldt+finally+merged+in+1972,+to+become+KHD+Industrieanlagen+AG%22}}</ref> | |||
| * Sibo ‘Steven’ Yan, general manager of KHD Humboldt Wedag Machinery Equipment (Beijing) Co. Ltd | |||
| 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.<ref></ref> | |||
| '''Ownership''' | |||
| In 1993, KHD Humboldt Wedag acquired ].<ref></ref> | |||
| Ownership of KHD has changed a number of times over its history. As of March 2014, the ] is the largest shareholder in KHD Humboldt Wedag International AG with a 89.02% stake, via AVIC Beijing Co. Ltd, a subsidiary of ]. The only other significant investor in the company is IA Reinsurance Co. Ltd with a 5.701% stake.<sup></sup> | |||
| Later in 2005 the company was acquired by ]; after its successful recovery, the holding company itself changed its name to KHD Humboldt Wedag International Ltd.<ref>Matt Rand, , '']'', 8 November 2005.</ref><ref>Richard Gibbons, , ], 13 July 2007.</ref> | |||
| '''Partnerships''' | |||
| In 2009, KHD Humboldt Wedag divested its two subsidiaries, MBE Coal & Minerals Technology and MBE Cologne Engineering, to concentrate on ].<ref> {{Webarchive|url=https://web.archive.org/web/20131008105241/http://www.koeln-nachrichten.de/wirtschaft/unternehmen/unternehmen-news/article/humboldt-wedag-kein-weiterer-stellenabbau.html |date=2013-10-08 }}, Köln Nachrichten, 30 June 2010 {{in lang|de}}</ref><ref>, Press release, ], 8 October 2009.</ref> | |||
| In April 2013, KHD appointed Weir Minerals, a part of ], as its exclusive global agent and recommended service provider for high-pressure grinding rolls for mineral processing applications.<sup></sup> | |||
| In 2010, the company split into ] and ] AG.<ref>, MFC Industrial Ltd., 2011.</ref> | |||
| '''Sustainability''' | |||
| In February 2011, KHD and ] signed a strategic partnership agreement.<ref></ref> | |||
| ] at KHD is led by a group-wide sustainability manager. Along with the management team, the sustainability manager is responsible for each of the three pillars of ESG performance. The company’s ESG ambitions are supported by a Global Sustainability Roadmap, which sets targets for each of the three pillars: <sup></sup> | |||
| In April 2013, KHD signed an exclusive and perpetual license agreement with ] for HPGR (high pressure grinding rolls) technology. KHD would receive royalty payment on equipment sales.<ref></ref><ref></ref> | |||
| * Environmental responsibility: ], greenhouse gas emissions, ], ] and ], environmental opportunities. | |||
| 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.<ref>{{Cite web|url=http://www.financialpost.com/markets/news/AVIC+International+Beijing+Company+Limited+Announces+Acquisition+Further/9026465/story.html|title = Home | Financial Post Home Page | Financial Post}}</ref> | |||
| * ]: ] and development, ], ], labor standards, product liability, social opportunities. | |||
| 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.<ref>{{Cite web|url=http://www.cemnet.com/News/story/153455/khd-recommends-shareholders-accept-avic-offer.html|title=KHD recommends shareholders accept AVIC offer|date=6 December 2013}}</ref> | |||
| * ]: distribution of rights and responsibilities, rules and procedures, ], financial and ] transparency. | |||
| == |
== Business concept == | ||
| Apart from ] and ], the company's products are classified into grinding technology, burning technology and process automation. The company also has a centralized test center in ] and a dedicated ]s and plant services division.<ref></ref> | |||
| ] | |||
| == References == | == References == | ||
| {{Reflist}} | |||
| # | |||
| # | |||
| # | |||
| # 150 Years: KHD Humboldt Wedag, 2006, p.7. | |||
| # 150 years, p.35. | |||
| # 150 years, p.35. | |||
| # 150 years, p.36. | |||
| # 150 years, p.7. | |||
| # 150 years, p.39. | |||
| # 150 years, p.39. | |||
| # 150 years, p.39. | |||
| # 150 years, p.42. | |||
| # 150 years, p.7. | |||
| # 150 years, p.45. | |||
| # 150 years, p.47. | |||
| # 150 years, p.47. | |||
| # 150 years, p.48. | |||
| # 150 years, p.51. | |||
| # 150 years, p.51-52. | |||
| # 150 years, p.55. | |||
| # 150 years, p.56. | |||
| # 150 years, p.57-58. | |||
| # 150 years, p.61. | |||
| # 150 years, p.63-71. | |||
| # 150 years, p.71-79. | |||
| # Hast, Adéle (1991). . St.James Press. p. 543. ] ]. | |||
| # , Press release, ], 8 October 2009. | |||
| # | |||
| # Mersmann, M., et al., “Process Engineering: a Forgotten Hero”, ''World Cement'' (February 2024). | |||
| # 150 years, p.62. | |||
| # 150 Years, p. 101. | |||
| # 150 Years, p. 101. | |||
| # 150 Years, p. 102. | |||
| # 150 Years, p. 102. | |||
| # 150 Years, p. 106. | |||
| # 150 Years, p. 107. | |||
| # 150 Years, p. 111. | |||
| # 150 Years, p. 106. | |||
| # 150 Years, p. 111. | |||
| # | |||
| # 150 years, p.13. | |||
| # 150 years, p.79. | |||
| # 150 years, p.81. | |||
| # | |||
| # (Accessed 07 March 2024). | |||
| # , Press Release Global News Wire 18 April 2013 | |||
| # | |||
| {{Authority control}} | |||
| == '''External Links''' == | |||
| {{Authority control}} | |||
| ] | ] | ||
Revision as of 09:34, 10 June 2024
German engineering company "KHD" redirects here. For other uses, see KHD (disambiguation). | |
| Company type | Publicly traded |
|---|---|
| Traded as | FWB: KWG |
| Industry | Engineering |
| Founded | 1856 |
| Headquarters | Cologne, Germany |
| 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 |
| Website | khd.com |
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 worldwide, including customer service centers in the Americas, India, Russia, and the Asia-Pacific region.
KHD Humboldt Wedag International AG is listed on the Frankfurt Stock Exchange.
History
In 1856, Hermann Sievers, Wimmar Breuer and Martin Neuerburg formed a general partnership, under the name of Maschinenfabrik von Sievers & Co Humboldt Wedag AG, formed in 1859 was formerly the industrial plant arm of Deutz AG.
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.
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.
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.
In 1993, KHD Humboldt Wedag acquired ZAB Zementanlagen und Maschinenbau GmbH.
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.
In 2009, KHD Humboldt Wedag divested its two subsidiaries, MBE Coal & Minerals Technology and MBE Cologne Engineering, to concentrate on cement.
In 2010, the company split into Terra Nova and KHD Humboldt Wedag International AG.
In February 2011, KHD and AVIC Beijing Co. Ltd signed a strategic partnership agreement.
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.
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.
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.
Business concept
Apart 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.
References
- ^ "KHD 2013 Fact Sheet"
- Buergin, Rainer (16 February 2011). "Daimler, KHD Humboldt Wedag, SAP: German Equity Market Preview". Bloomberg L.P. Retrieved 21 May 2013.
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- KHD Konzern
- Letter to Shareholders, p 16
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- Annual Report 2011, p4
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- FinanzNachrichten
- "Home | Financial Post Home Page | Financial Post".
- "KHD recommends shareholders accept AVIC offer". 6 December 2013.
- " Reuters"