Estel
{{Short description|Dutch-German steel company}}
{{other uses}}
{{Infobox company
| name = Estel
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| predecessor = IJmuiden steelworks, Hoesch Dortmund steelworks
| successor = IJmuiden steelworks, Hoesch Dortmund steelworks
| foundation = 1972
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| defunct = 1982
| location_city = Nijmegen
| location_country = Netherlands
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| locations = IJmuiden, Dortmund
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| industry = Steel
| products = Iron, Raw steel, finished steel, manufactured steel
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Estel (also styled as ESTEL){{cite news |title=Envirotech, Dutch Firm Sign Pact |author=Staff |date=31 Jan 1975 |work=The Times (San Mateo, California) |via=Newspapers.com |url=https://www.newspapers.com/image/39032194/ |page=41 }} was a steel company formed by the merging of Koninklijke Hoogovens IJmuiden steel plant and Hoesch's main steel plant in Dortmund. The company existed from 1972 to 1982 until de-merged.
History
In 1966 the board of Koninklijke Hoogovens voted in favour of merging their IJmuiden steelworks with the Dortmund plant of German steelmaker Hoesch; Hoesch would benefit from the IJmuiden steelwork's port, and Koninklijke Hoogovens' 43% shareholding in the Dortmund-Hörder Hüttenunion (DHHU) was converted into a 15% shareholding in Hoesch with Hoesch acquiring DHUU.{{#tag:ref|Koninkijke Hoogoven had a share in Phoenix AG für Bergbau und Hüttenbetrieb of Dortmund which had been merged into Vereinigte Stahlwerke; following the breakup of that concern in 1953 Hoogoven's share was converted into a holding of the Dortmund based Dortmund-Hörder Hüttenunion.{{citation| url = https://books.google.com/books?id=AoZ-PzW1UFIC| title = Success and failure in public governance: a comparative analysis |series = New Horizons in Public Policy, series editor Wayne Parsons| publisher = Edward Elgar Publishing| year= 2001|editor2 = Mark Bovens |editor2-link=Mark Bovens| editor3 = Paul 't Hart| editor = B. Guy Peters| chapter = 6. A 'Dutch Miracle' in steel policy? Laissez-faire intervention, wage restraint and the evolution of Hoogovens|author = Hans Schenk|pages =84–104 [94]| isbn = 9781843762171 | chapter-url = https://books.google.com/books?id=AoZ-PzW1UFIC&pg=PA84}}|group="note"}} The two firms made agreements on division of work between the plants – IJmuiden was to concentrate on pig iron, crude steel, and semi-manufactured products, whilst Hoesch's Dortmund plant was to produce finished steels and manufactured products. The two entities were merged in 1972, forming Estel NV, headquarter in Nijmegen.{{citation|url = http://www.encyclopedia.com/doc/1G2-2840800049.html |journal = International Directory of Company Histories| volume = 91| editor = Jay P. Pederson| publisher = Gale| year= 2008| title = Koninklijke Nederlandsche Hoogovens en Staalfabrieken NV }}, via www.encyclopedia.com{{citation| url = https://books.google.com/books?id=2DIRP6TYRXgC| title = Social, economic and cultural aspects in the dynamic changing process of old industrial regions: Ruhr District (Germany), Upper Silesia (Poland), Ostrava Region (Czech Republic)| author = Karl Eckart| year = 2003| publisher = LIT Verlag Münster|chapter-url = https://books.google.com/books?id=2DIRP6TYRXgC&pg=PA51| chapter = 2.4.2 The companies of iron and steel industry: Estel-Hoesch, Thyssen, Klöckner|pages = 51–52| isbn = 9783825867843}}{{citation| url = https://books.google.com/books?id=juH17s4HF5AC| title = Mergers and acquisitions: managing culture and human resources| author = Günter K. Stahl| author2= Mark E. Mendenhall| publisher = Stanford University Press| year= 2005| pages = 326–331, 335–336 | isbn = 9780804746618}}
In the mid 1970s the Steel crisis caused overcapacity in steel production throughout Europe; Estel needed to invest to improve production quality and efficiency to compensate for loss of production volume, and to cut production costs; additionally Hoesch's branch of Estel was making losses, and required support; as such it sought investment from both the German and Netherlands government; however the Dutch government was only willing to invest if the German state also supported the venture, whilst the German state wished any restructuring and investment to be done in collaboration with Krupp (also loss making) which was not acceptable to Dutch banks.{{citation| url = http://repub.eur.nl/res/pub/38/erimrs20000707152559.pdf| title = IS POLDER-TYPE GOVERNANCE GOOD FOR YOU? Laissez-Faire Intervention, Wage Restraint, And Dutch Steel| author = Hans Schenk| date = May 2000| work = repub.eur.nl| pages = 11–13}} As a result, in 1982 the 50:50 partnership of Estel was dissolved, with Hoesch taking 61% of its liabilities.{{citation|url = http://www.tatasteeleurope.com/file_source/StaticFiles/Corporate/History_KH.pdf| title = History of Koninklijke Hoogovens | work = www.tatasteeleurope.com| publisher = Corus}}{{citation|url = https://www.nytimes.com/1982/11/17/business/hoesch-partnership.html| title = Hoesch Partnership| date = 17 November 1982| work=The New York Times}}
Notes
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References
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External links
- {{citation| url =http://www.spiegel.de/spiegel/print/d-46413935.html| title =HOESCH-HOOGOVENS Antrag ohne Absicht | work = www.spiegel.de| date =15 August 1966 | publisher = Der Spiegel| language =de}}
- {{citation| url =http://www.spiegel.de/spiegel/print/d-44906369.html| title = HOESCH/HOOGOVENS Befund im Herbst |work = www.spiegel.de| date =13 July 1970 | publisher = Der Spiegel| language =de}}
- {{citation| url = http://www.nahraum.de/tml1_de.0.html?article=5770| archive-url = https://archive.today/20130211135108/http://www.nahraum.de/tml1_de.0.html?article=5770| url-status = dead| archive-date = 2013-02-11| title = Das Jahr 1972 : "Stahlehe" Hoesch AG Hoogovens| work = www.nahraum.de| language = de}}
- {{citation| url = http://www.nahraum.de/tml1_de.0.html?article=6088&year=1982| title = Das Jahr 1982 : Stahlehe Hoogovens und Hoesch getrennt| work = www.nahraum.de| language = de| access-date = 2012-02-08| archive-url = https://archive.today/20130211113318/http://www.nahraum.de/tml1_de.0.html?article=6088&year=1982| archive-date = 2013-02-11| url-status = dead}}
Category:Steel companies of Germany
Category:Steel companies of the Netherlands
Category:Manufacturing companies established in 1972
Category:Manufacturing companies disestablished in 1982
Category:1972 establishments in the Netherlands
Category:1982 disestablishments in the Netherlands