saarstahl

	Stages in the development of the Völklinger iron and steelworks from its beginnings till the present day

	1873		Foundation of the "Völklinger Eisenhütte, Actien-Gesellschaft für Eisenindustrie" (puddling plant) by the ironmaking engineer Julius Buch from the Rhineland (Cologne).

	03.05.1879		The whole workforce is made redundant and the iron and steelworks shut down because it is unprofitable.

	Date of foundation 27.08.1881		Purchase of the plant which had been shut down by the Röchling brothers. Foundation of the "Völklinger Eisenwerk Gebrüder Röchling OHG". The Managing Director is Karl Röchling.

	1881–1883		Rapid upswing in the iron and steelworks. Above all, the production of iron girders and sleepers, results in good profits. Increase in the number of employees from the original 450 to 1,150. Erection of the first blast furnace (at that time the biggest in the Saar region). The works creates its own supply of crude iron by purchasing minette ore fields in annexed Lorraine.

	from 1885		Continuous expansion of the works' facilities. Erection of an additional four blast furnaces by the year 1893.

	1890		The Völklingen iron and steelworks are the largest producer of iron in the German Reich producing 70,164 t of girders.

	1891		A Thomas steelmaking plant goes into operation. The Thomas steel process makes it possible to produce steel from the phosphor-rich minette ore. Steel production in the Saar region becomes a large-scale industry.

	1892		Expansion of the range of products to include track material, iron bars and semi-finished products. (In 1904 wire joins the range).

	1896		The company changes to a public limited company (GmbH) and, at the same time, changes ist name to "Röchling'sche Eisen und Stahlwerke GmbH" (RESW).

	1897		A coking plant on the works premises goes into operation for the production of blast furnace coke.

	1898		Construction of the iron and steelworks known as "Carlshütte" near Diedenhofen (Thionville) for the manufacture of pig iron close to the location of the ore (Lorraine).

	1900		Erection of the first part of the gas blower hall: The turbines are driven by blast furnace gas (for the first time in the world). By 1914, the plant has been expanded to six turbines.

	1907 – 1908		Development of the Röchling-Rodenhauser three-phase current furnace: start of electric steel production in Völklingen.

	1909 - 1910		Construction of a rolling mill for high grade steel.

	1911		A Thomas slag grinding plant goes into operation: Production of Thomas ground basic slag for fertilizer.

	August 1914		As the First World War breaks out, production comes to an almost complete standstill. Conversion of the plants to produce armaments: Erection of a press shop and a turnery for the manufacture of grey cast iron and, later, of steel grenades. A large proportion of the workforce is called up for military service. Women and prisoners of war stand in for the missing workers.

	1915		Erection of an open-hearth steelmaking plant for the manufacture of war material: Bullets of almost all calibers, wire for a barbed wire factory, protective shields for infantry, railway tracks for in the field etc.

	1916		Expansion of the electric furnace plant: 80 - 90 % of the material for the production of German steel helmets is produced. The plant is expanded to included a hammer mill and annealing plant.

	1916 – 1918		Considerable damage is caused in air attacks: The bomb alarm is given 328 times times. 236 bombs fall on Völklingen and the iron and steelworks.

	June 1918		Hermann Röchling is made a member of the Business Council of Prussia.


	24.12.1919		A French court finds Robert and Hermann Röchling guilty , among other charges, of destroying French factories, and sentences them in their absence to 10 years of imprisonment.

	1920 – 1935		The Saarland comes under the supervisory control of the League of Nations. A Saar parliament is installed but the great influence of France can still be felt: The gendarmerie and military are not withdrawn.

	1920		Ratification of the Treaty of Versailles: Loss of all properties in Lorraine including the iron and steelworks "Carlshütte" in Diedenhofen and the ore mines in Algringen. Foundation of the Buderus Steelworks in Wetzlar. Construction of a factory for springs and a wire rod mill. Background: The Treaty of Versailles included the separation of the Saar region from Germany in 1925, meaning that from then on export duty would have to be paid. Option agreement with the Societé Lorraine Minière. The terms laid down in this contract are never completely fulfilled by the French. A French contribution to the company capital is thus avoided.

	February 1921		New organisation of the company ownership. Aim: separation of the high-grade steel operation to form an independent company in the hope of thus providing protection from French attacks. The "Röchling'sche Eisen- und Stahlwerke GmbH" acts as a holding company for 2 share holding companies: • "Stahlwerk Völklingen AG" (from 1922 "Röchling'sche Eisen- und Stahlwerke AG in Völklingen") • "Röchling Völklingen AG" (from 1922 "Edelstahlwerk Röchling AG in Völklingen")

	February 1921		Foundation of an independent sales company for France: "SAFFAS - Societé Anonyme Française des Forges et Aciéries de la Sarre" (active until 1935).

	1924		The iron and steelworks are shut down for 50 days as a reaction to French reprisals (immense prices asked for coke and ores). Conversion of the capital to French Francs.

	1925		The German Iron and Steel Institute awards Hermann Röchling the Carl Lueg commemorative medal for his services in the field of iron and steel metallurgy.

	1927		A cement factory for processing the blast furnace slag goes into operation.

	1928		Worsening competitive conditions after the end of the First World War lead to a boom in technical innovation. Objective: To decrease the consumption of ore and coke and to increase blast furnace efficiency: • Construction of the first large sintering plant in Germany in Völklingen: Independence from the Lorraine ore. • Völklingen increases the amount of processing within the plant. Expansion of the high grade steel plant, spring factory and hammer mill; setting up of a new cold rolling mill and cold drawing plant. • Use of soda for subsequent desulphurization of the hot metal outside the blast furnace.

	1934		The Association of German Engineers awards Hermann Röchling the Grashoff commemorative coin.

	März 1935		The Saar region once again becomes part of the German Reich: Transfer of all the capital from Röchling'schen Eisen- und Stahlwerke AG and Edelstahlwerk Röchling AG without liquidation to the Röchling'schen Eisen- und Stahlwerk GmbH by December 31st 1935. From a legal point of view, the situation is thus back to what it was before the war.

	bis 1939		The economic politics of the NS state is orientated towards being autarkical and this causes problems in the supply of raw materials. Innovation is required: • Development of new technologies for the preparation and processing of Dogger ores with low iron content. • Introduction of the OM process to compensate for a scarcity of manganese ores • Vanadium is extracted from crude iron

	01.09.1939		The Second World War breaks out: Völklingen is located within the "red zone" (strip between the French border and the main line of attack along the West Wall): The civilian population has to leave the area. The iron and steelworks are closed down.

	08.12.1939		The first blast furnace is blown in again. The second follows 14 days later, the third in April, the fourth in August and the fifth in October 1940. Production again switches to military supplies.

	March 1940		The Thomas steelmaking plant starts operating again.

	01.07.1940		Hermann Röchling is made "General Representative for Iron and Steel for the Regions of Lorraine and Meurthe-de-Moselle, with the exception of Longery" for the four-year plan. This is limited to Meurthe-de-Moselle from January 1941.

	1941		Hermann Röchling is appointed to the Administrative Council of the Reichsbank.

	1942		Hermann Röchling is a member of the head operational staff for the German wartime economy. Among other positions, he is • a Member of the Arms Council • Chairman of the Reich's iron and steel organisation • Head of the business group of the ironmaking industry • Reich's representative for iron and steel in the occupied areas

	12.11.1942		Hermann Röchling celebrates his 70th birthday. The German Iron and Steel Institute makes him an honorary member.

	July 1944		Ernst Röchling is arrested for conspiracy against the state after a failed attempt on Hitler's life. Imprisonment in Brandenburg until Januar 1945 (Freed by American troops).

	Autumn 1944		The front comes closer: Production is cut back. Emergency workforce of 200 - 300 workers.

	December 1944		Karl Theodor Röchling (Managing Director of the Völklingen iron and steelworks) is found dead on the works premises along with senior engineer Koch. The circumstances surrounding their deaths have never been completely clarified. The blast furnace is shut down. Only the repair area is still manned.

	1945		The Völklingen iron and steelworks remains largely undamaged in the final years of war (contrary to other iron and steelworks in the Saar region).

	20.03.1945		Military occupation of the Saarland by American troops.

	April 1945		The Völklingen iron and steelworks are occupied.

	Mai 1945		The Thomas slag grinding plant and oxygen plant go into operation again.

	June 1945		The Saarland becomes a French-occupied zone. The Völklingen plant comes under sequestration. The custodian is Georges Thédrel. Members of the management are dismissed and deported.

	1946		Hermann Röchling is captured by US troops. Imprisonment in Nürnberg. Ernst Röchling is imprisoned again.

	1947		Hermann Röchling is handed over to the French occupying power. The economy of the Saarland is linked to France: introduction of the Franc (20:1).

	16.02.1948		Start of the trial against Hermann Röchling and the family members Ernst Röchling and Hans-Lothar von Gemmingen as well as the Directors, Albert Maier and Wilhelm Rodenhauser in Rastatt. They are accused of war crimes.

	25.01.1949		Announcement of the verdict by the appeal court. (1st verdict of 02.07.1948): Hermann Röchling, Ernst Röchling and von Gemmingen are sentenced to imprisonment and to loss of their civil rights as well as confiscation of all their private property. Maier is acquitted. Rodenhauser also receives a prison sentence. 10 % of the shares in the Völklingen iron and steelworks thus go to France.

	from 1949		France will only consent to the return of the Röchling family if they concede to keep only minority shares. Both the legal situation and the French Government's future plans remain unclear.

	from 1950		The family makes efforts to clarify the situation. Negotiations with potential buyers begin. They are unsuccessful due to France's claim to the majority of shares.

	18.04.1951		Foundation of a coal and steel union: European Community of Coal and Steel. The organisation controls the French-German production in the coal and steel sector.

	18.08.1951		Ernst und Hermann Röchling are granted pardons.

	1952		Production capacity of the pre-war period (1938) is achieved once more.

	13.03.1953		Hermann Röchling, receives the Siemens Ring award - the highest award in Germany for services in the field of science and technology.

	23.10.1954		Saar Statute: The Saarland is to become the germ cell of the European Community. The state of sequestration is lifted until the plebiscite. Exception: the Völklingen iron and works remains under external administration.

	Spring 1955		The Röchling question becomes a political matter: the French government consolidates its position. Adenauer asks the Röchling family to yield for the sake of the French-German settlement. An option agreement is signed: the French and German Federal governments each own an option for purchasing one half of the Völklingen iron and steelworks. The family acquires a small share package in Rheinmetall AG Berlin. By 1959, the share had been increased to 75 %.

	24.08.1955		Hermann Röchling dies in Mannheim. He was unable to return to his home region after the end of the war.

	23.10.1955		Saar Referendum: 67.7 % decide against the Saar Statute.

	April 1956		The family declares the granting of the option invalid.

	27.10.1956		Treaty of Luxembourg: due to the result of the plebiscite, France agrees to the Saarland being re-integrated into Germany from 01.01.1957.

	14.11.1956		Ernst Röchling and Baron von Gemmingen-Hornberg obtain the French government's agreement in principle that the state of sequestration be ended and the iron and steelworks returned to the family. France receives 3 billion Francs (around 36 million DM) in return for production facilities left in the plant.

	28.11.1956		The sequestration comes to an end: the saying over the next few years is"peace settlement between France and Röchling". The receiver Georges Thédrel hands the management of the company back to the Röchling family.

	1957		The Saarland is re-integrated into Germany. The light sections mill in Nauweiler Gewann goes into operation.

	1958		A new production plant goes into operation in Busendorf: "Atelier de Bouzonville". Manufacture of Röchling-Chevron slotted light angles and Omnia light girders.

	05./06.07.1959		Economic integration of the Saarland into Germany and introduction of the DM as the currency.

	1961 - 1967		Continued expansion of the works: modernisation and specialisation necessary in order to remain competitive. Various new or modernised facilities go into operation including: • the medium section mill in in Nauweiler Gewann • the cross-current lime burning furnace • the vacuum arc furnace • the DH degasser • the 4,000-t press in the forging mill • the 100-t electric furnace • the expansion of the production of cold rolled sections in Fenne • the factory for springs • the high-grade steel continuous casting plant

	1961		Re-organisation of the administration and decentralisation of the family assets: the shares in "Rheinmetall AG" and "Röchling-Buderus AG Wetzlar" are transferred to the newly founded "Industriegesellschaft Röchling".

	1963		The "Ernst-Röchling Foundation " is set up on the occasion of his 75th birthday: scientific research is carried out at the University of the Saarland in order to promote understanding between Germany and France.

	24.01.1964		Ernst Röchling dies in Düsseldorf.

	1965		Sale of the share in the high grade steel plant in Wetzlar: Röchling'sche Stahl GmbH comes under the ownership of Buderus. "Röchling-Saarstahl GmbH" is founded as the sales organisation for the products from Völklingen.

	Dezember 1967		Dr. Hermann Röchling resigns from the company's management for health reasons. Dr. Hans-Werner Osthoff becomes the managing director meaning that, for the first time, the company is not headed by a member of the family.

	1969		The workforce increases to a record 17,000. The iron and steelworks contract is agreed: The German iron and steel industry only uses local bituminous coal.

	02.07.1970		ARBED and the Völklingen iron and steelworks found the "Joint Wire Mill Construction" for constructing wire mill 11 in Burbach.

	01.07.1971		Merger of the Völklingen iron and steelworks RESW with the Burbach iron and steelworks belonging to the Luxembourg company, ARBED, to form "Stahlwerke Röchling-Burbach GmbH" retrospectively from 01.01.1971: • Shareholders of 50 % each: Industrieverwaltung Röchling and ARBED • The integrated iron and steelmaking plants remain intact at both locations • The Röchling family withdraws from the steel industry in the Saar region

	1972		A new process for the production of steel is introduced in the Burbach plant: conversion from Thomas steel to a basic oxygen process. Furthermore, the latest environmental technology is used here: dust is eliminated by a "wet electro filter". The plate rolling mill in Hostenbach is closed on 30.06.1972. The workforce is taken on by "Stahlwerke Röchling-Burbach GmbH".

	May 1973		Wire (rod) mill 11 in the Burbach plant goes into operation. It is a four strands wire rod mill which is described as one of the biggest and most modern in the world. An investment of DM 150 Mill. was required for this equipment. The annual capacity is 900,000 t.

	1974		The German steel industry reaches record production levels.

	1975		Start of the steel crisis.

	1977		Steel crisis leads to a deficit of 138 Mio. DM at the Röchling-Burbach steel works. The consequences: • there is a risk of bankruptcy • 1,300 workers are made redundant • various production facilities are shut down including the reinforced steel-bar twisting plant in Völklingen and rolling mills 16/17 and 19 in Burbach • Shut down of the liquid phase in Burbach on 31.12.1977

	18.12.1978		A programme of restructurisation is agreed by the management of "Stahlwerke Röchling-Burbach GmbH" and "Neunkircher Eisenwerk AG" with the cooperation of the federal and local governments and the trade unions. Tthe following measures are included in the agreement: • Take-over of the shares of the Röchling industrial administration at "Stahlwerke Röchling-Burbach GmbH" by ARBED S.A. except for a remaining 2,1 %. ARBED S.A. thus becomes practically the sole share holder • Transfer of the 97 % ARBED share in the "Neunkircher Eisenwerk AG" to the "Stahlwerke Röchling-Burbach GmbH". The Neunkircher iron and steelworks thus becomes a subsidiary of Röchling-Burbach, but legally remains an independent company. • Transfer of the 32.4 % share of the "Neunkircher Eisenwerk AG" in "AG der Dillinger Hüttenwerke" to "Stahlwerke Röchling-Burbach GmbH" • Step-by-step replacement of the OBM steelmaking plants in Völklingen and Neunkirchen and of the open hearth steelmaking plant (SM steelmaking plant) in Völklingen by a new basic oxygen steelmaking plant with continuous casting systems in Völklingen by 1982/83. At the same time there is restructurisation towards more high-grade and special steels. • Concentration of the finished rolled products on highly efficient rolling mills/special product plants as part of a comprehensive change and concentration of the programme in all ARBED companies. Between ARBED Luxembourg and the manufacturers of long products in the Saarland " comes ARBED-Finanz Deutschland GmbH" (AFDG) which, as 100 % ARBED subsidiary holds all shares in companies belonging to the ARBED concern and located in Germany.

	1980		The first newly constructed stage in the new basic oxygen steelmaking plant in Völklingen goes into operation: the latest technology is used. The SM steelworks in Völklingen closes down. The European steel industry suffers a considerable loss in sales and, at the same time, a great reduction in revenue. The EC lays down production quotas and minimum prices.

	1981		The market and quota situation continues to worsen. Initial adaptation of the restructuring programme becomes necessary: • Take-over of the plant by the Luxembourg concern ARBED S.A. • New arrangement of ARBED's further processing activities in the Federal Republic: Reduction of the 32.4 % share of "Stahlwerke Röchling-Burbach GmbH" in "AG der Dillinger Hüttenwerke" to 10 % • "Stahlwerke Röchling-Burbach GmbH" and "AG der Dillinger Hüttenwerke" found a joint pig iron company "ROGESA" and, along with "Saarbergwerke AG" the "Zentral Kokerei Saar GmbH" (ZKS - a central coking plant) • On December 31st, the first blast furnace (V) is shut down in Neunkirchen.

	Mid 1982		Renewed adaptation of the restructuring programme to suit the worsening sales and revenue situation. Merger between "Stahlwerke Röchling-Burbach GmbH" and "Neunkircher Eisenwerk AG" to form "ARBED-SAARSTAHL GmbH" (01.07.1982). The second stage of the new basic oxygen steelmaking plant in Völklingen goes into operation. The liquid phase in Neunkirchen is shut down on July 29th. The steelmaking plant and the first heat blooming mills stop production on the same day. The coking plant follows on the 31st of the month. The light sections mill and the wire rod mill continue producing. Intermediate result of the new organisation: • Three fully integrated iron and steelworks have been put together to make one • Two steelmaking plants at one location have been made out of seven at three locations • Of the original 21 rolling mills, only 8 are still in operation • Reduction in capacity of almost 40 %

	1983		Financial support provided repeatedly by federal and local governments prevent collapse. An additional 180 Mill. DM are required over and above the approved amount of financial support of 312 Mill. DM, Co-operative measures outside the company are taken: Agreements with Peine-Salzgitter AG and Hoesch Werke AG regulate the exchange of production and delivery quotas to ensure a better utilization rate for production equipment.

	1984		The special steelmaking plant in Völklingen is shut down. The central coking plant in Dillingen goes into operation. Adaptation programme 1984 - 1986 with acceleration of the rationalisation measures and adaptation of personnel. Reduction in capacity of almost 30 %. Option agreement between the federal and local governments and ARBED: ARBED is obliged to transfer up to 76 % of the capital shares in "ARBED-SAARSTAHL GmbH" to a third party to be named by the federal and local governments.

	1985		According to "Roland Berger & Partner GmbH" (Munich), who provide expertise on reorganisation, further reductions in personnel are necessary. There is proof of the company's ability to survive. On December 17th, "ROGESA" takes a large diameter blast furnace ("blast furnace V") into operation. Development of a new re-organisation concept by the local and federal governments, banks, employees and ARBED Luxembourg.

	15.05.1986		First step towards putting this concept into operation: Option is drawn. Transfer of the shares to the former Secretary for Trade and Industry for the Saarland, Dr. Schäfer. A deed of trust is agreed between Dr. Schäfer as the trustee and the local government of the Saarland as trustor.

	Juni 1986		Other steps are taken in the reorganiszation concept: • The management is transfered to the Dillingen iron and steelworks. An agreement follows on the condition that 320 Mill. DM are saved in 1987 (150 Mill. in the area of personnel alone) • The company's name is changed to "Saarstahl Völklingen GmbH" • Preparation of a joint industrial solution with "AG der Dillinger Hüttenwerke" The steel crisis becomes even more acute. Further reduction in personnel to 8,500 employees.

	04.07.1986		In Völklingen, the out-dated blast furnaces, coking plants and auxiliary facilities are shut down.

	05.01.1987		Setting up of the steel foundation: Saarland's solution for avoiding social suffering caused by the reduction in personnel. Efforts to merge with the Dillingen iron and steelworks are unsuccessful due to the worsening conditions on the market.

	1988		Consolidation continues steadily. The situation on the steel market improves. SAARSTAHL Völklingen is involved in the upswing.

	20.04.1989		"SAARSTAHL Völklingen GmbH" and "AG der Dillinger Hüttenwerke" are brought together by the Holding "DHS-Dillinger Hütte Saarstahl AG": • 70.0 % Usinor-Sacilor • 27.5 % Saarland • 2.5 % ARBED The holding owns 100 % of the subsidiary "SAARSTAHL Völklingen GmbH" and almost 100 % of "AG der Dillinger Hüttenwerke".

	10.05.1989		Foundation of "Saarstahl AG" as successor of "SAARSTAHL Völklingen GmbH".

	1990		The so-called Progress Programme begins: a programme for improving the cost-to-performance ratio. Diagnostic phase in the first six months: A team with eight members from the McKinsey Business Consultancy finds possiblities for making savings of up to 300 Mio. DM. The programme comprises all areas of the DHS Holding with savings/modernisation in administration and production.

	1991		Worsening of the situation on the steelmarket. Drop in prices due to cheap imports from eastern Europe and surplus capacity in the long product and flat product areas lead to a large decrease in turnover.

	1992		The crisis in the European steel industry becomes dramatically more acute in the middle of the year: recession in western Europe, continuing eastern imports and protectionist measures in the USA.

	01.01.1993		The further processing part of "Saarstahl AG" is reorganised. "Techno Saarstahl GmbH" is merged with "Saarstahl AG" Decentralisation: Division into five operating units: • Steel supply and rolling mills, centre • Neunkirchen • Forge • Burbach • Rolling mills and operations Nauweiler

	18.05.1993		Filing of bankruptcy petition by the Board of Saarstahl AG due to insolvency. Mr Jean Lang, former Chairman of the Supervising Board of Saarstahl AG is appointed as trustee. As a security measure, the court rules that business is to be continued under the trustee.

	31.07.1993		Opening of bankruptcy proceedings with regards to the assets of Saarstahl AG through a decision by the District Court in Völklingen due to excessive indebtedness and insolvency. At the same time, Messrs Jean Lang and Hans Ringwald are appointed as bankruptcy administrators.

	09.09.1993		First meeting of creditors: It is unanimously decided that business should be continued for the time being. The appointment of the bankruptcy administrators is unanimously confirmed.

	January 1994		Change to conditions of ownership: • Separation from the Holding DHS-Dillinger Hütte SAARSTAHL AG • The Saarland takes on 100 % of the shares in Saarstahl AG i.K.

	March 1996		New arrangement of the proportion of shares in the Holding DHS-Dillinger Hütte SAARSTAHL AG (out-of-court settlement): • 48.75 % Usinor-Sacilor (formerly 70 %) • 2.50 % ARBED (no change) • 33.75 % Saarstahl (formerly 0 %) • 15.00 % Saarland (formerly 27.5 %) Saarstahl and the Saarland together hold 48.75 %. This is the same amount as Usinor-Sacilor.

	18.07.1996		Date for examining the claims of the creditors: The amounts payable to the total of 2,148 creditors ) amount to 6.8 billion DM. Of this amount, 5.4 billion DM were finally settled by the bankruptcy administrators. ) Annotation: Several thousand relinquished or devolved claims of creditors were only recorded by the individual holders of the claim (i.e. B PSVaG, work administration).

	12.12.1996		The Supervisory Board of SAARSTAHL AG i.K. agrees to the new ownership structure: • 19.9 % AG der Dillinger Hüttenwerke • 20.0 % Kreditanstalt für Wiederaufbau • 28.1 % Saarstahl Treuhand GmbH • 32.0 % of the shares remain with the regional Saarstahl Holding GmbH (31.9 %) and the Saarländische Investitionskreditbank AG (0.1 %) The corporate members of Saarstahl Treuhand GmbH are Messrs Jean Lang, Hans Ringwald and Albrecht Herold. The trustees act in the interests of the whole group of creditors who, with their financial contribution, try to make it possible to have a compulsory settlement.

	12.12.1997		In an exceptional general meeting, the shareholders, including Saarstahl Treuhand GmbH, approve the petition of compulsory settlement put forward by the Board: • On the claims forming part of the compulsory settlement, a quota of 10% is paid with relinquishment of the remainder. • The compulsory settlement amounting to approx. 120 mill. DM is financed by the shareholders according to their proportion of share capital. In the meeting of the Supervisory Board, a decision is taken to transfer the SAARSTAHL shares of the Saarstahl Holding GmbH and the Saarländische Investitionskreditbank AG to the Saarland. The ownership structure is as follows: • 19.9 % AG der Dillinger Hüttenwerke • 20.0 % Kreditanstalt für Wiederaufbau • 28.1 % Saarstahl Treuhand GmbH • 32.0 % Saarland

	29.12.1997		The creditors accept the proposal of compulsory settlement with a large majority (99.99 % of the head votes; 98.06 % of the amounts claimed).

	30.12.1997		The bankruptcy court confirms the compulsory settlement.

	01.12.1998		The Saarstahl shares of the Kreditanstalt für Wiederaufbau (20 %) are transferred to Saarstahl Treuhand GmbH. New ownership structure: • 48.1 % Saarstahl Treuhand GmbH • 32.0 % Saarland • 19.9 % AG der Dillinger Hüttenwerke

	15.10.1999		The AG der Dillinger Hüttenwerke obtains a further 5.2 % of the Saarstahl AG shares from the Saarland‘s shares. New ownership structre: • 48.1 % Saarstahl Treuhand GmbH • 26.8 % Saarland • 25.1 % AG der Dillinger Hüttenwerke

	30.10.1999		The final installment of the agreed compulsory settlement is transferred to the creditors. The quota of the payment agreed in the compulsory settlement of December 1997 is thus fulfilled. The rights of the bankruptcy administrators and the committee of creditors still remain.

	30.05.2001		The Supervisory Boards of Dillinger Hütte and Saarstahl AG agree to found a mutual foundation in the sense of the so-called "Hüttenlösung" (steel works solution). The Supervisory Board of Saarstahl AG unanimously agrees to the transfer of shares held by the Saarland (26.8 %) and Saarstahl Treuhand GmbH (48.1 %) to KGaA which is still to be founded under the working title: "SHS-Struktur-Holding Stahl". KGaA will thus hold 74.9 % of the SAG shares purely as a share holding company. The company shares in Komplementär-GmbH and the special partners‘ shares are to be donated to "Montan-Stiftung-Saar" (Foundation for Coal and Steel Industry in the Saarland).

	26.09.2001		The Supervisory Boards of the AG der Dillinger Hüttenwerke and Saarstahl AG confirmed the steelworks solution for the Saarland in their meetings as the basis for future cooperation between the two companies for securing the Saar region has a location for steel production.

	16.10.2001		The cabinet of the regional government of the Saarland took the decision to sell the region‘s own shares in Saarstahl AG amounting to 26.8 % and in DHS – Dillinger Hütte Saarstahl AG amounting to 15 % to the Struktur-Holding-Stahl GmbH & Co KG a.A. This makes it possible to further realise the steelworks solution.

	23.10.2001		The state assembly of the Saarland agreed to the sale of the region‘s own shares in Saarstahl AG amounting to 26.8 % to the Struktur-Holding-Stahl GmbH & Co KG a.A.

	05.11.2001		Saarstahl Treuhand GmbH agreed to the transfer of 48.1 % of the shares in Saarstahl AG to the Struktur-Holding-Stahl GmbH & Co KG a.A.

	26.11.2001		The presentation of the account of settlement by the bankruptcy administrators was accepted by the insolvency court of the District Court in Völklingen.

	28.11.2001		Judge Grünert, of the insolvency court Völklingen closed the bankruptcy proceedings with regard to the assets of Saarstahl AG. The discharge from bankruptcy comes into force on 11.12.2001.

	11.12.2001		The supervisory board decides to invest in a new continuous casting facility. With its technological and metallurgical demands and an investment volume of 77 million Euros, this measure is one of the most significant steps towards securing Saarstahl AG's future. The S 0 facility will go in operation in 2004.

	28.01.2002		As the first site in the Saarland, Saarstahl AG's rolling mill in Burbach receives the environmental protection certificate of compliance with DIN EN ISO 14001 thus confirming that the highest recognized demands of an environmental management system are being met.

	28.03.2002		New ownership structure: • 74,9 % Struktur-Holding-Stahl GmbH & Co KG a.A. • 25,1 % AG der Dillinger Hüttenwerke

	01.07.2002		Henner Wttling joins the Board of Saarstahl AG. Alongside Hans-Günter Herfurth (Chairman), Dr. Klaus Harste (Technical Director) and Claude Kintz (Marketing), he is responsible for Human Resources.

	Summer 2002		In seven weeks of conversion work, the Saar forge is modernized. This work includes the installation of one of the most modern forging presses in the world (85MN) including a powerful manipulator (200 mt). The investment amounts to 12 million Euros. The press is commissioned in September.

	01.09.2002		Saarstahl AG introduces a new corporate design. The central feature of the revised corporate presentation is a modern logo in the colours orange and graphite.

	26.09.2002		Saarstahl AG's supervisory board takes the decision to make investments amounting to 22 million Euros for their Burbach and Neunkirchen locations. Permission to install a new rocker bar furnace is given for the plant in Neunkirchen and the rocker bar furnace in Burbach is to be modernised.

	12.12.2002		Saarstahl AG's supervisory board also appoints Hans-Günter Herfurth as Chairman of the Board at Saarstahl AG for a further two years until 31.12.2004. With the decision by the supervisory board to make invetsments in the Völklingen rolling mills, Saarstahl AG resolutely continues the process of modernisation and strengthening in all their locations.

	12.03.2003		A high performance, large dimension CNC lathe is installed in the heavy lathe area of the high grade steel processing department of Saarschmiede. The department now has a modern aggregate for pre-machining and finish-machining at its disposal. The investment amounts to EUR 1.2 m.

	15.05.2003		In the steel processing workshop at Saarschmiede, a new bandsaw machine goes into operation. It is designed in accordance with the latest technology and represents a significant element in the strategic plan to increase production levels at Saarschmiede. The investment amounts to around EUR 0.4 m.

	14.06.2003		With a large celebration, Saarstahl AG honoured those celebrating the jubilee of their employment at Saarstahl in the year 2002. For the first time in the history of the company, there was a joint jubilee celebration for employees from the Saarstahl locations in Völklingen, Burbach and Neunkirchen as well as from the subsidiaries Burbacher Stahl- und Waggonbau, Metallurgische Gesellschaft Saar and Saar-Bandstahl. A total of 152 deserving employees were honoured for 25, 35, 45 und 50 years of service.

	25.09.2003		The Supervisory Board takes the decision to invest 27 million euros in a new walking beam furnace for the rolling mill at the operating unit in Völklingen. Advantages of the new furnace: improved quality and increased productivity with a simultaneous reduction in fuel costs and adherence to more stringent environmental requirements.

	09.12.2003		The new corporate design receives an award as part of the award scheme for design 2003 of the government of the Saarland region. In a speech honouring this achievement, the jury emphasises that, with its new outward appearance, Saarstahl AG had succeeded in creating a convincing image of its products and services as well as attaining a visual representation of the company’s field of expertise.

	17.12.2003		In a meeting on 17.12.2003, the Supervisory Board of Saarstahl AG appoints Dr. Michael Hanisch (53) as a board member and as Chairman of Saarstahl AG as of 01.06.2004.

	12.03.2004		The new six strand continuous casting facility with the short name S0 goes into operation – as planned – in 2004. With S0, billets of the format 150 mm x 150 mm of 8.5 m to 15.5 m in length and 180 mm x 180 mm of 6.0 to 13.0 m in length are manufactured. This facility is one of the most modern of its type and, with some of its additional features, it represents the cutting edge of present day continuous casting technology.

	29.09.2004		In a meeting on 23.09.2004, the Supervisory Board approves a major investment in the combined wire rod and bar mill at the plant in Neunkirchen. It is decided that a new precision rolling system is to be constructed. The total investment amounts to around 11 million euros.

	27.10.2004		On 27.10.2004, at Metallurgische Gesellschaft Saar GmbH (MGS), a subsidiary of Saarstahl AG, a new torch cutting system officially goes into operation. The system has been constructed in accordance with the latest environmental regulations on noise levels and emissions. The investment totals 2 million euros.

	23.03.2005		In a meeting on 23.03.2005, the Supervisory Board appoints Claude Kintz (62) as Chairman of the Board at Saarstahl AG.

	19.05.2005		In a meeting on 19.05.2005, the Supervisory Board takes the decision to make investments amounting to 27.8 million euros in the rolling mill at their Burbach location and 2.7 million euros in the wire rod mill in Neunkirchen. In the Burbach plant, new blooms are integrated into the 4-strand rolling mill and the drive systems and control systems are renewed. At the location in Neunkirchen, the trimming station in the finishing line of the wire rod mill is moved and a new coil turnover car built. In addition, the material flow tracing system is modernised with partial automation of the sample labelling and wire rod labelling. Further improvements are achieved in employee working conditions.

	25.05.2005		Saarstahl AG has introduced an environmental management system for all production areas which has been audited by TÜV CERT, the certification body of the technical monitoring agency of the Saarland. On 25.05.2005 the environmental certificate is handed over as the successful conclusion of the audit at Saarstahl AG. With the introduction of an environmental management system for all operating areas according to DIN EN ISO 14001, the company fulfils the high internationally recognised demands which this standard sets.

	08.06.2005		After a successful audit by DVS Cert, the quality certificates according to DIN EN ISO 9001 and the welding standard DIN EN 729-2 are presented to BHSW, Burbacher Stahl- und Waggonbau GmbH, a subsidiary of Saarstahl AG.

	06.07.2005		On 06.07.2005, Saarstahl receives the Bosch Supplier Award 2005, a supplier award which Robert Bosch GmbH presents to selected suppliers worldwide. With this price, Robert Bosch GmbH show their appreciation of outstanding services from their suppliers in the years 2003 and 2004 with regard to quality, costs and reliability of supply. This is now the second time that Bosch has bestowed its supplier award on Saarstahl AG. Furthermore, Saarstahl AG continues to be the only steel manufacturer with a product range that includes bar and wire rod (long products) which, along with its further processing departments, has been awarded the Bosch Supplier Award.

	28.09.2005		On 28.09.2005, the Supervisory Board of Saarstahl AG approved investments totalling 36.45 million euros for the Saarstahl locations of Völklingen and Neunkirchen. In Völklingen, a new gas holder is to be erected in order to make use of the converter gas which is formed in the basic oxygen steelmaking plant and a new 25-ton boiler system is to be set up for environmentally friendly generation of steam for heat and power. Furthermore, a new induction quench and temper line is planned for the rolling mills in Völklingen. At the Neunkirchen location, the central preparation of semi-finished products is to be renewed. At the same time, the production area will be adapted in order to meet more stringent environmental and work safety requirements as well as to increase performance.

	09.12.2005		In a meeting on 09.12.2005, the Supervisory Board of Saarstahl AG approved investments amounting to 18.7 million euros for the Saarstahl location in Völklingen. In the rolling mills in Völklingen, the finishing line of the Nauweiler rolling mill is to undergo fundamental renovation. In the BOF steel plant in Völklingen, it is planned to renew the operating and process control system in the production area of the melting operation.

	31.01.2006		In a meeting on 20.01.2006, the Supervisory Board of Saarstahl AG decided to make a takeover bid in the insolvency proceedings of the company Tréfileries de Conflandey S. A. for the locations of Conflandey and Port d’Atelier. Due to a court decision on 31.01.2006, Saarstahl AG’s bid for a takeover as of 01.02.2006 was accepted. The companies in the takeover, which had around 300 employees and production plants in Eastern France, were part of the Conflandey Group, a company with global operations which focuses on the production of clamping wire.

	15.03.2006		In a meeting on 15.03.2006, the Supervisory Board of Saarstahl AG reappointed Dr. Klaus Harste as a member of the Management Board of Saarstahl AG for a further 5 years.

	20.09.2006		In a meeting on 20.09.2006, the Supervisory Board of Saarstahl AG took the decision to make additional investments amounting to 35 million euros in the Saarstahl subsidiary Saarschmiede GmbH Freiformschmiede located in Völklingen. Individual investments were carried out in the following facilities: 4,000 ton press, rail-mounted forging manipulator, freely movable forging manipulator, several forging and annealing furnaces as well as lathes and cranes.

	30.09.2006		The central rolling mill was shut down as of 30.09.2006. The shutting down of the rolling mill also meant the end of the line for two steam engines that had been in service for around a hundred years. The roller traction drive unit built in 1891 is equipped with an electronic control system after 106 years. The second engine was in original condition having been in operation with 14,100 horsepower since 1910.

	29.03.2007		In a meeting on 29.03.2007, the Supervisory Board of Saarstahl AG took the decision to carry out an investment amounting to 40 million euros for a new wire centre at the Saarstahl location of Neunkirchen. This investment is in a service centre for surface and heat treatment of wire. At the same time, part of the further processing is thus being brought up to the latest standards as well as being concentrated in Neunkirchen and extended to allow for planned volume increases. The decision in favour of the Neunkirchen location is to allow further optimisation of the logistic processes between the Saarstahl locations in the Saarland. Furthermore, Dr. Karlheinz Blessing was appointed as a Member of the Board and Director of Labour at Saarstahl AG as of 01.07.2007.

	11.05.2007		On 11.05.2007, directly beside the main road 51 in Völklingen, a sculpture by the Hamburg artist and Dortmund Professor HD (Hans Dieter) Schrader was officially inaugurated and handed over to the public. The sculpture entitled "Kubushochzeit" (Marriage of cubes) was created by HD Schrader by order of Saarstahl AG. His outdoor sculptures made of steel, wood and other materials are to be found across the globe. The Saarstahl sculpture is the first in the Saarland for the artist HD Schrader. It now marks the western entrance to the town of Völklingen, directly beside the main road 51 and gatehouse 10, one of the central gatehouses of Saarstahl AG. The "Kubushochzeit" consists of two transparent, angular pillars of 15 and 13.5 metres in height, whereby the edges are formed by H-shaped steel beams. The sculpture weighs 25.5 tons and consists of a total of 125 metres of H sections of 400 x 300 mm in dimension. Both cubes seem to grow out of a mutual foundation whilst being "entwined” with each other and tilting slightly away from each other. HD Schrader explains that "The angles of tilt are different so that, as the observer moves, the sculpture also seems to move." The sections for this work of art were rolled in the central rolling mill in Völklingen on 30.08.2006. They are taken from the last production shift for these dimensions. On the one hand, the construction of the Saarstahl sculpture reminds us in a meaningful and artistic way of the central rolling mill which was shut down at the end of September 2006. On the other hand, it marks the entrance to the town of Völklingen coming from the direction of the town of Bous with a significant symbol of Saar steel. Based on a drawing by the artist, the sculpture was designed and the static calculation carried out by the Burbach Saarstahl subsidiary BHSW. In the workshops, the H sections were precisely cut to size, brought together, welded, painted and erected at the Völklingen location. The official inauguration took place with a large number of invited guests and interested members of the public. After a greeting by the Claude Kintz, Chairman of the Board, the Mayor of the town of Völklingen, Klaus Lorig, said a few words of appreciation and the artistic director of the exhibitions of contemporary art Documenta 6 and 8, Prof. Dr. Manfred Schneckenburger, gave the artistic introduction.

	06.06.2007		In a meeting on 06.06.2007, the Supervisory Board of Saarstahl AG reappointed Claude Kintz as a member of and Chairman of the Management Board of Saarstahl AG for the period until 31.03.2009.