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Home > Company Index > Conglomerates > Conglomerates > Preussag AG

Preussag AG
 NEWS FROM THE STANDARD
T-Online Alters Plans for Travel Portal
Jun 06 2001 10:29 AM PDT

 PROFILE
Once a steel and mining conglomerate, Preussag now makes a living on the road. Its logistics and tourism businesses account for more than 60% of sales. Europe's largest tourism enterprise, Preussag operates more than 3,200 travel agencies, more than 200 hotels, and 60 tour operators. Its Hapag-Lloyd unit runs logistics, shipping, and freight forwarding operations. Preussag's industrial holdings include an energy and commodities division that produces oil and gas and a building engineering unit (heating and air-conditioning equipment, fire protection systems, and radiators). The company plans to sell most of its nontourism businesses. State-owned Westdeutsche Landesbank owns 33% of Preussag.

 COMPETITION
A.P. Møller (dossier)
Accor (AC)
American Express Company (AXP)

 FINANCIAL OVERVIEW
Fiscal Year-End: September
1999 Sales (mil.): 18,739.10
1-Yr. Sales Growth: (10.8)%
Employees: 57,673
Revenue per employee: $324,919.81

 KEY PEOPLE
• Michael Frenzel
    CEO
• Rainer Feuerhake
    CFO

 CONTACT INFO
Karl-Wiechert-Allee 4
D-30625 Hanover, Germany
Phone: 49-511-566-00
Fax: 49-511-566-1098
Online: Web Site

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