Lechwerke Value Stock - Dividend - Research Selection
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Description of the company
Lechwerke AG (also LEW Lechwerke) is a regional energy supply company majority owned by RWE subsidiary Innogy SE.
The network area covers most of the Bavarian administrative district of Swabia and is bounded to the west by the Iller, to the north by the Danube, to the east by the Lech and to the south by the district of Oberallgäu, whereby some public utilities are excluded. This covers an area of 6,895 km² with around 972,000 inhabitants.
The roots of the Lechwerke go back to the year 1898, when the Frankfurt company Lahmeyer and Co. started construction of the Gersthofen hydroelectric power plant and the Lech Canal. Further power plants on the Wertach followed. In 1903 Lahmeyer founded the "Lech-Elektrizitätswerke Aktien-Gesellschaft" in Augsburg. In 1923, the present-day parent company RWE, also founded by Lahmeyer & Co, takes over the Lahmeyer company and thus also the LEW . 1932 takes place with the commissioning of the 110 kV line Meitingen-Hoheneck (near Stuttgart) the connection to the interconnected area of Rheinisch-Westfälisches Elektrizitätswerk AG (RWE).
In the years 1976/1977 90 percent of the share capital of the corporation Bayerische Elektrizitätswerke (BEW) is taken over, which are then converted into the Lech-Elektrizitätswerke AG. Finally, in 2002, the name change to Lechwerke AG. Three years later, this corporation is transformed into a holding and founded four subsidiaries for generation, network operation, network control and administration.
The company was listed in the Prime Standard until December 2014, but then waived approval.