Company: Hochtief

Founders: Balthasar and Philipp Helfmann

Industry: Construction

History:
The Hochtief Aktiengesellschaft Company, or Hochtief, is the biggest construction company in Germany. Its headquarters is located in Essen, where it oversees its global contracting services. Hochtief is also the father company of Turner Corporation in the US and the Leighton Group in Australia. In 2006, it employed more than 46,000 employees across five corporate divisions. The company also built the Hochtief Airport and is the country’s major airport operator. Other areas of focus include construction and operation, construction project planning, and finance.

According to information found in a local address book, Hochtief was founded in 1874 by Philipp and Balthasar Helfmann. While Philipp worked as a lumber merchant and Balthasar worked as a mechanic, they collaborated in projects where Philipp focused in the finance aspect of the business and Balthasar focused on the construction contract completion. Their first major contract was for the University of Giessen in 1878. By the 1880s, the company started to produce its own construction materials, although it remained a regional player. After the death of Balthasar, Philipp converted the company into a joint stock corporation.

Even though the company’s status was tarnished in World War II, a change of management and the reconstruction of Germany elevated their stature. Soon, Hochtief became involved in various countries’ infrastructure developments. In 2009, Hochtief had over 66,180 employees and amassed revenue of €18.17 or $23.13.

Leadership:
Herbert Lütkestratkötter, Chief Executive Officer and Chairman of the Executive Board
Detlev Bremkamp, Supervisory Board Chairman