German Companies (II)

Germany has been the origin of some of the largest, most recognizable companies in the world. Germany also is a member of the European Union, and participates in the European market in addition to other world economic markets. However, there are also a significant number of German companies that are not quite as well known, hidden behind brands and subdivisions. One of these is Deutsche Telekom, a telecommunications giant that provides many different services for customers worldwide. Another company that has established a significant base worldwide is Metro, a retailer with stores and branches throughout Europe, Asia, and Africa. These German companies are the foundation upon which the great German economy rests.

Deutsche Telekom has its headquarters in Bonn, Germany, and holds the title of largest telecommunications firm both in its native country and in the European Union. This telecom giant emerged in 1996, when a publicly owned company known as Deutsche Bundespost was privatized. The German government continues to maintain an interest in this company today, controlling fifteen percent of DTAG’s stock directly and an additional seventeen percent through its government bank. DTAG has a number of widely known subsidiaries, each of which begins with the letter T, such as T-Mobile, which provides cellular phone services, T-Online, an international ISP, and T-Systems, which focuses on providing telecommunications services to larger or corporate customers. DTAG showed a profit of 569 million Euros during 2007, and reported 244,000 employees during the same year. Deutsche Telekom is one of the most successful German companies in the European Union and the world.

Another of the German companies that has found success in the European market is Metro AG, a retailer that owns and operates supermarkets, consumer electronics outlets, appliance retail, and department stores throughout Europe, Asia, and parts of Africa. Metro is the fifth largest retailer worldwide, as well as one of the most successful retail firms operating today. Founded in 1964 by German businessman Otto Beisheim, Metro operates chains such as Metro and Makro Cash and Carry, Real, Media Market, and Saturn, all of which have a combined presence in nearly 30 European nations, as well as China, India, Thailand, Egypt and Morocco. In the future Metro plans to expand its operations in Europe and Asia, and seeks to open a Do-It-Yourself / Home Maintenance chain with stores across the globe. Although Metro has not established a presence in the Americas, it is still one of the most successful German companies worldwide, bringing in an annual net profit of 1.011 billion Euros in 2007.