1847: Foundation and development years
On May 1, 1847, Ludwig Possehl founds his company L. Possehl & Co. in Lübeck and begins trading in iron and coal. Initially, customers came from the region: coal was needed by all sections of the population in the Hanseatic city and the ironware is sold to various industries such as crafts and trades in the surrounding area.
Soon Possehl was also supplying the first large industrial customers with sheet iron, coal and general goods such as nails and wire. It is already an important business principle to place the business on as broad a basis as possible.
Possehl overcomes economic crises thanks to a stable equity base. A cautious withdrawal policy has increased the company’s equity to 7.5 times the initial capital, despite challenging conditions during the first 15 years.
1873: Development to Europe
In 1873, Emil Possehl, Ludwig's eldest son, takes over the management of the business. At this time, the heavy industry phase begins. Emil Possehl recognizes the industrial trend early on and gears his business towards it.
In the 1890s, the industrial revolution is in full swing. Emil Possehl organizes Swedish ore sales in Germany in particular and becomes the largest importer of Swedish iron ore.
By the onset of the First World War, Emil Possehl had become a senator of the Hanseatic City of Lübeck and significantly expanded his company. He held extensive international interests in pig iron and steelworks, limestone quarries, and sulfur gravel pits. The company’s own shipping fleet managed distribution across Europe, reaching from the far north to Lisbon and into Africa.
In 1915, Emil Possehl streamlines the company structures. The previous departments of his company as a whole become independent trading companies. L. Possehl & Co. mbH becomes the umbrella organization. This creates the basis for the organization that has shaped the company to this day: the division into a parent company – the management holding company – and its individual operating companies.
1918: Years of probation
The First World War also leads to severe downturns at Possehl. However, thanks to the domestic coal and domestic fuel business, the company remains stable.
Emil Possehl dies on February 4, 1919. As his sole heir, the foundation Possehl-Stiftung takes over the company's assets. Since then, the foundation has been promoting the cultural, social and other charitable activities of its hometown of Lübeck, in keeping with the spirit of its founder.
After the economic turbulence of the 1920s, the company's success curve rises again. New industries and manufacturing companies, freight and insurance agencies join the Possehl Group. The core business with steel, coal and other fuels develops anew.
The Possehl Group in its current structure was also formed during this time. The Possehl-Stiftung transferred the companies it held directly to L. Possehl & Co. mbH and since then only has stakeholdership in the Group parent company.The Second World War once again leaves deep scars. The company loses all of its foreign holdings and a significant part of its sales market.
1948: Resurgence and international development
The Possehl Group was hit hard by the collapse of Germany and the resulting political changes. It was not until the currency reform of 1948 that the conditions for a new reconstruction were created. The company management gradually reunites what remains of the old business relationships. New connections are soon added. Possehl benefits from its diversity of production, trading and service companies.
In the 1950s and 1960s, business activity experienced a significant resurgence. In 1965, the Possehl Group underwent its first structural transformation, marked by a reduction in trading operations due to the acquisition of production companies. This pivotal shift was primarily driven by the acquisition of Heimerle + Meule GmbH, which continues to serve as the management company for our precious metals business today.
1997: Possehl celebrates its 150th anniversary
The 1980s and 1990s in particular are characterized by strong growth. Many predominantly medium-sized companies were acquired in Germany. As a result, the Group has diversified considerably, with equal shares of trading and production activities. With almost 5,000 employees, Possehl is now one of the 100 largest companies in Germany.
Today: Diversified, global Group of companies
Today, Possehl is a globally active and strategically diversified group of companies, generating an annual turnover of approximately 5.5 billion Euros. Our workforce comprises around 13,500 talented individuals across more than 200 companies. Currently, ten independent divisions, managed in a decentralized manner, form the operational backbone of Possehl.