Consolidated Financial Statements - L. Possehl & Co. mbH

company. It sells industrial raw materials to customers in North and
South America. The group’s main business consists of trading in industrial
raw materials for the fi reproof, metallurgy and chemical fi elds. The
Possehl Inc. Group rounds out its range of offerings with shipping and
logistics services. The People’s Republic of China therefore serves the
American companies as a signifi cant source of procurement.
SERVICES BUSINESS SEGMENT
The Services business segment includes the companies
Possehl Umweltschutz GmbH and the broker activities of Lubeca
Versicherungskontor GmbH and Teutonia Fracht- und Assekuranzkontor
GmbH.
Environmental Protection: A recognized specialist, Possehl Umweltschutz
handles the new construction, reconstruction and expansion
and revision of tank farms. The company remedies pollution mishaps
and oil spills on national highways and autobahns as well as bodies of
water and gathers solid and liquid waste materials which are conveyed
to thermal recycling.
The Gesellschaft für das Recycling kontaminierter Industriebrachen
mbH (GRKI) (recycling of contaminated brownfi elds company) operates
four recycling yards in the urban area of Lübeck.
Broker Activities: Lubeca Versicherungskontor GmbH offers insurance
services of all types for the private, commercial and industrial
sectors. By means of its many years of excellent connections to the entire
insurance market, favorable coverage solutions can be worked out
with customers. The activities of Lubeca Versicherungskontor GmbH
are rounded out by the historically evolved transport insurance division,
in which the company is authorized to sign for and re-present a number
of domestic and overseas insurers as an authorized agent of the insurer
with stock exchange authorization.
Teutonia Fracht- und Assekuranzkontor GmbH arranges the global
transport of containers as well as bulk cargo and bulk goods. Included
in its activities are the chartering of ships and cargo, the clearance of
seagoing vessels and completing all transactions within the environment
of ship’s agents and ship’s brokers. The company also acts as
an insurance broker both in the placement and handling of insurance
transactions in the product and transport sector.
HOLDING COMPANY/INVESTMENTS
In this business segment, we combine the parent company L. Possehl
& Co. mbH and the minority and/or fi nancial participations held by
the parent company either directly or indirectly. The major participating
interests on the balance sheet date are comprised of 30 % in Hako
Holding GmbH & Co. KG, 10 % in Norddeutsche Affi nerie AG and 10.1 %
in Süd-Chemie AG.
Hako Group: By acquiring a 30 % interest in Hako Holding GmbH &
Co. KG in the year 2004, Possehl took the fi rst step in setting up a new
business division. In early 2006, this commitment was strengthened
by means of a majority acquisition. Since that time, Hako has come to
form its own business division within the Possehl Group.
The Hako Group, headquartered in Bad Oldesloe, is one of the worldwide
leading manufacturers of professional cleaning machines and has
an extensive sales and service network in Europe as well as representative
offi ces on three other continents. The Hako Group also manufactures
cleaning machines via its US subsidiary Minuteman and distributes
them in the USA. Specifi cally, the Hako range of products includes
equipment for plant and building cleaning, exterior cleaning and property
maintenance as well as special and municipal vehicles that can be
used in many applications.
Norddeutsche Affi nerie AG: As part of the disposal of Hüttenwerke
Kayser AG in the year 1999, Possehl received 10 % of the shares in
Norddeutsche Affi nerie AG (NA). The NA Group, located in Hamburg, is
the largest integrated copper producer in Europe and the world’s largest
copper recycler. The market value of our participation increased
signifi cantly as a result of the positive business development of NA during
the past year.
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