In 1927 it was merged with the Ruhr coal company, Hibernia AG, and electricity utility to become the Vereinigte Elekrizitäts und Bergwerks AG (VEBA AG) (United Electrical and Mining Company).
With the sale of Salzgitter AG and purchase of the navigation and logistics company Hapag-Lloyd AG in 1997, Preussag AG became a global enterprise in the service and leisure industry. In addition the company acquired 25% of Thomas Cook shares in 1997, which it doubled the following year. On February 2 1999 the Carlson Leisure Group merged with Thomas Cook into a holding company owned by the German bank, Westdeutsche Landesbank, Carlson Inc and Preussag . However, in mid-2000 Preussag acquired Thomas Cook's rival Thomson Travel and was forced to sell its majority 50.1% stake in Thomas Cook by regulatory authorities.
IRAN: JOINT VENTURE ENGINEERING AND PROCUREMENT CONTRACT AWARD FOR PLANNED 150,000 METRIC TON PER YEAR ACETIC ACID PLANT, SALZGITTER ANLAGENBAU [GERMANY] & NARGAN [IRAN] - Order #: 051299.
May 01, 1999; PROJECT OVERVIEW: The local NATIONAL PETROCHEMICAL CO. (NPC) is currently gearing- up to build a new acetic acid plant in Iran....
IRAN: CONSTRUCTION CONTRACT AWARD FOR PLANNED ENGINEERING PLASTICS COMPLEX, SALZGITTER ANLAGENBAU [GERMANY] - Order #: 051399.
May 01, 1999; PROJECT OVERVIEW: The local NATIONAL PETROCHEMICAL CO. (NPC) is currently gearing- up to build a new engineering plastics plant...