The success story began rather gloomily. In the winter of 1992 a whole region feared for the future of Georgsmarienhütte. The 2integrated", i.e. ore- and coke-based, yet "dry" (because waterway-remote) steel production site with a history stretching back to 1856 was on the verge of going out of existence.

The corporate group which had owned the iron and steel maker for almost 70 years saw closure as the only way out. Jürgen Großmann had a different idea. He secured the support of his family, management associates, the workforce and the government of Lower Saxony to take over the steel enterprise himself in 1993 by means of a management buyout. With his management team he turned the company around, demanding maximum effort and performance from the employees, while at the same time involving them in the commercial success, and overhauling the production process completely. It led, in the summer of 1994, to Georgsmarienhütte GmbH putting
Germany‘s first direct-current electric arc furnace into operation.

This laid the foundation for a sophisticated production programme in which steel grades of the highest quality are made using only scrap as the raw material, whose preparation and sorting are labour-intensive. Georgsmarienhütte GmbH is meanwhile among the most modern and efficient steel makers in Europe as well as the heart of the Georgsmarienhütte group of companies, one of the official partners of "Germany - Land of Ideas". Just under 9,000 employees generate sales of more than 1.8 billion euros. Besides the locations in Germany and Austria there are branch operations in France, Japan, China and Brazil. The Georgsmarienhütte group of companies is also represented in the United States, England and Italy.

Collectively, 43 companies form the Georgsmarienhütte corporate group. Each is managed as a medium-size enterprise. This means that each has its own active management locally, that the identity of the location is preserved and that, where required by law, the individual enterprise has its own supervisory board.

Having its roots in steel, the Georgsmarienhütte group of companies has expanded its capabilities continuously over the past years in the core processes of smelting, casting, forging and rolling. Today, individual solutions are developed co-operatively with the customers. The Georgsmarienhütte group of companies offers the entire range of products, from materials to ready-to-install components, from one single source - in the shortest possible time and of the highest quality.

Steel from Georgsmarienhütte GmbH, for example, is already to be found in nearly every European automobile. Several companies of the group supply materials and components for the so-called “drive train“, be it the engine or the transmission. Products from the Georgsmarienhütte group of companies are also making their mark through reliability and technical innovation in the fields of power generating plant and general mechanical engineering, in the growing European rail traffic sector, and in transport and hoisting technology.

Aluminium foundries are an area in which the group wishes to grow in the future. Magnesium processing is another. The aim is to expand its expertise in materials with a view to opening up new markets.

The principle of sustainability fundamentally applies. This involves not only ecological and social responsibility, but also growth and the realisation of profits. This enables the companies to constantly improve their processes and products.