About: IBH-Holding   Sponge Permalink

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IBH-Holding was a German construction group based in Mainz, Germany, who, after a period of very high growth rates, went bankrupt on November 4, 1983. The company was founded by Horst-Dieter Esch. By purchasing a series of medium-sized construction equipment manufacturers beginning early 1970s, in a short time he created the IBH group. The acquired companies were mostly in distressed situations, and the purchase prices were correspondingly low. Towards the end, he employed more than 10,000 employees in the group, and it had achieved a turnover of over 2.0 billion DM. As a financial partner for its expansive activity, he joined up with General Motors, the Saudi Sheikh Saleh A. Kamel, and the banking house Schroder, Münchmeyer, Hengst & Co. (SMH) as the operative bank.

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  • IBH-Holding
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  • IBH-Holding was a German construction group based in Mainz, Germany, who, after a period of very high growth rates, went bankrupt on November 4, 1983. The company was founded by Horst-Dieter Esch. By purchasing a series of medium-sized construction equipment manufacturers beginning early 1970s, in a short time he created the IBH group. The acquired companies were mostly in distressed situations, and the purchase prices were correspondingly low. Towards the end, he employed more than 10,000 employees in the group, and it had achieved a turnover of over 2.0 billion DM. As a financial partner for its expansive activity, he joined up with General Motors, the Saudi Sheikh Saleh A. Kamel, and the banking house Schroder, Münchmeyer, Hengst & Co. (SMH) as the operative bank.
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abstract
  • IBH-Holding was a German construction group based in Mainz, Germany, who, after a period of very high growth rates, went bankrupt on November 4, 1983. The company was founded by Horst-Dieter Esch. By purchasing a series of medium-sized construction equipment manufacturers beginning early 1970s, in a short time he created the IBH group. The acquired companies were mostly in distressed situations, and the purchase prices were correspondingly low. Towards the end, he employed more than 10,000 employees in the group, and it had achieved a turnover of over 2.0 billion DM. As a financial partner for its expansive activity, he joined up with General Motors, the Saudi Sheikh Saleh A. Kamel, and the banking house Schroder, Münchmeyer, Hengst & Co. (SMH) as the operative bank. A fundamental reorganization and rapid integration of the possible synergistic effects were rarely realized. The company developed a rapidly growing financial need, which could finally no longer be covered. The indebtedness amounted to about one billion DM when the company collapsed. As a result, the SMH ran bank into trouble. It was rescued by a joint action of the German banking industry, followed by a majority takeover by British bank Lloyds. Horst-Dieter Esch was convicted in 1984 by the Koblenz court for fraud and sentenced to six and a half years imprisonment and a 90,000 DM fine.
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