Société Générale de Belgique
Encyclopedia
The Société Générale de Belgique was one of the largest companies
that ever existed in Belgium
. It was founded in 1822 by William I
, and existed until 2003, when its then sole shareholder, Suez Lyonnaise des Eaux, merged it with Tractebel to form Suez-Tractebel.
Although William I of the Netherlands
, refused it initially on the grounds of the added expense involved in maintaining the said army, Castlereigh persuaded him by asking him if he preferred to be Prince of Orange or King of the Netherlands, adding that from a practical point of view the Belgian Ducal Estates amounted to a third of the country. He therefore founded the company in 1822 to administer these estates under the name Algemeene Nederlandsche Maatschappij ter Begunstiging van de Volksvlijt, with the overt goal of increasing the welfare of the country, but with the covert objective of covering these costs.
As the Standing Army project never got taken seriously by the rest of Europe in practice, and the delivery of the Company proved insufficient, the objectives changed in 1826 to the delivery of NFL 500 000 a year as a "pension" to the King's personal account.
After the Belgian Revolution
of 1830, the company became Belgian
, under the French
name Société Générale de Belgique, and it retained the Estates, which were sold off at low prices to the immediate circle of the Board. It then served until 1850 as the National Bank of Belgium
. The Société Générale was an important provider of capital for the upcoming industry of Belgium in the 19th century.
In the years before the Second World War, the company invested in roads, railroads and canals. It was also the main operation in the Belgian colonies, like in the Belgian Congo
. After the 1929 Crash
, the company split off its banking segment (1934), becoming the Generale Bank (now Fortis
, which was later sold to BNP Paribas, resulting in BNP Parisbas Fortis), but remained its largest stockholder.
Starting in the end of the 1980s, the Suez company started to obtain a large portion of the Société Générale's stock, which resulted in the full take-over of the company in 1998, by Suez Lyonnaise des Eaux.
Company
A company is a form of business organization. It is an association or collection of individual real persons and/or other companies, who each provide some form of capital. This group has a common purpose or focus and an aim of gaining profits. This collection, group or association of persons can be...
that ever existed in Belgium
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
. It was founded in 1822 by William I
William I of the Netherlands
William I Frederick, born Willem Frederik Prins van Oranje-Nassau , was a Prince of Orange and the first King of the Netherlands and Grand Duke of Luxembourg....
, and existed until 2003, when its then sole shareholder, Suez Lyonnaise des Eaux, merged it with Tractebel to form Suez-Tractebel.
History
As part of the terms of the Treaty of Paris in 1814, the countries of Europe agreed to augment their armed forces from militia to a standing army. Although Belgium had been offered independence by the Prussians, Viscount Castlereagh vetoed it on the grounds that the country was too small to be economically viable, and the question then arose of who should govern it, the Austrians having washed their hands of it as a historical accident of the breakup of the Habsburg empire.Although William I of the Netherlands
William I of the Netherlands
William I Frederick, born Willem Frederik Prins van Oranje-Nassau , was a Prince of Orange and the first King of the Netherlands and Grand Duke of Luxembourg....
, refused it initially on the grounds of the added expense involved in maintaining the said army, Castlereigh persuaded him by asking him if he preferred to be Prince of Orange or King of the Netherlands, adding that from a practical point of view the Belgian Ducal Estates amounted to a third of the country. He therefore founded the company in 1822 to administer these estates under the name Algemeene Nederlandsche Maatschappij ter Begunstiging van de Volksvlijt, with the overt goal of increasing the welfare of the country, but with the covert objective of covering these costs.
As the Standing Army project never got taken seriously by the rest of Europe in practice, and the delivery of the Company proved insufficient, the objectives changed in 1826 to the delivery of NFL 500 000 a year as a "pension" to the King's personal account.
After the Belgian Revolution
Belgian Revolution
The Belgian Revolution was the conflict which led to the secession of the Southern provinces from the United Kingdom of the Netherlands and established an independent Kingdom of Belgium....
of 1830, the company became Belgian
Belgium
Belgium , officially the Kingdom of Belgium, is a federal state in Western Europe. It is a founding member of the European Union and hosts the EU's headquarters, and those of several other major international organisations such as NATO.Belgium is also a member of, or affiliated to, many...
, under the French
French language
French is a Romance language spoken as a first language in France, the Romandy region in Switzerland, Wallonia and Brussels in Belgium, Monaco, the regions of Quebec and Acadia in Canada, and by various communities elsewhere. Second-language speakers of French are distributed throughout many parts...
name Société Générale de Belgique, and it retained the Estates, which were sold off at low prices to the immediate circle of the Board. It then served until 1850 as the National Bank of Belgium
National Bank of Belgium
The National Bank of Belgium has been the central bank of Belgium since 1850...
. The Société Générale was an important provider of capital for the upcoming industry of Belgium in the 19th century.
In the years before the Second World War, the company invested in roads, railroads and canals. It was also the main operation in the Belgian colonies, like in the Belgian Congo
Belgian Congo
The Belgian Congo was the formal title of present-day Democratic Republic of the Congo between King Leopold II's formal relinquishment of his personal control over the state to Belgium on 15 November 1908, and Congolese independence on 30 June 1960.-Congo Free State, 1884–1908:Until the latter...
. After the 1929 Crash
Wall Street Crash of 1929
The Wall Street Crash of 1929 , also known as the Great Crash, and the Stock Market Crash of 1929, was the most devastating stock market crash in the history of the United States, taking into consideration the full extent and duration of its fallout...
, the company split off its banking segment (1934), becoming the Generale Bank (now Fortis
Fortis (finance)
Fortis N.V./S.A. was a company active in insurance, banking and investment management. In 2007 it was the 20th largest business in the world by revenue but after encountering severe problems in the financial crisis of 2008, most of the company was sold in parts, with only insurance activities...
, which was later sold to BNP Paribas, resulting in BNP Parisbas Fortis), but remained its largest stockholder.
Starting in the end of the 1980s, the Suez company started to obtain a large portion of the Société Générale's stock, which resulted in the full take-over of the company in 1998, by Suez Lyonnaise des Eaux.
Subsidiaries once (majority) owned by the Société Générale
- Coditel - public utility
- Compagnie Maritime BelgeCompagnie Maritime Belge-History:The CMB was founded in 1895 under the name Compagnie Belge Maritime du Congo . At the request of Leopold II of Belgium and with support from British investors, a maritime connection was opened with Congo Free State. On 6 February 1895 the CMB ship Léopoldville was the first to leave port...
- cargo and shipping company - DistrigasDistrigasDistrigas is a natural gas company based in Belgium. It is a subsidiary of the Italian energy company Eni. In addition to Belgium, the company operates also in France, the Netherlands and Germany.-History:...
- public utility - ElectrabelElectrabelElectrabel is a Belgium-based energy corporation. It is a subsidiary of GDF Suez.-History:Electrabel was established in 1905. Its actual name originates from 1990, after the regrouping of the companies Intercom, Ebes and Unerg....
- public utility - Fabrique Nationale de HerstalFabrique Nationale de HerstalFabrique Nationale d'Herstal — self identified as FN Herstal and often referred to as Fabrique Nationale or simply FN — is a firearms manufacturer located in Herstal, Belgium....
- arms manufacturer - Société Générale de Banque - bank
- Tractebel - public utility
- Union Minière du Haut KatangaUnion Minière du Haut KatangaThe Union Minière du Haut Katanga was a Belgian mining company, once operating in Katanga, in what is now the Democratic Republic of the Congo...
- mining company - ACEC (Ateliers de Construction Electrique de Charleroi) - electric construction - electronics
- La Brugeoise et Nivelles, belgian rolling stock manufacturing company
Directors
- Étienne DavignonÉtienne DavignonÉtienne Francois Jacques Davignon, Viscount Davignon is a Belgian politician, businessman, and former vice-president of the European Commission.-Career:...
1988-2001 - Ferdinand de Meeûs 1822-1861
- Emile FrancquiEmile FrancquiEmile Francqui was a Belgian soldier, diplomat and business man. Being an orphan, he was sent to the military school when he was 15 years old...
- Alexandre GalopinAlexandre GalopinAlexandre Galopin was a Belgian businessman. He was director of the Société Générale de Belgique, a large Belgian company founded in 1822 by William I....
- Félicien Cattier 1944
- Jean JadotJean JadotJean Jadot was a Belgian prelate of the Roman Catholic Church. He served as apostolic delegate to the United States from 1973 to 1980, and President of the Secretariat of Non-Christians from 1980 to 1984.-Biography:...
- Max Nokin
- René Lamy
- Jules Van PraetJules Van PraetJules Van Praet was a Belgian diplomat and personal secretary of King Leopold I of Belgium. He was born in Bruges, and died in Brussels aged 81.-External links:* *...
- Edgar SengierEdgar SengierEdgar Sengier was the director of the Belgian Union Minière du Haut Katanga during World War II. Sengier is credited with giving the American government access to much of the uranium necessary for the Manhattan Project...
- Emile FrancquiEmile FrancquiEmile Francqui was a Belgian soldier, diplomat and business man. Being an orphan, he was sent to the military school when he was 15 years old...
1932-1935 - Jean JadotJean JadotJean Jadot was a Belgian prelate of the Roman Catholic Church. He served as apostolic delegate to the United States from 1973 to 1980, and President of the Secretariat of Non-Christians from 1980 to 1984.-Biography:...
1913-1932 - Ferdinand Baeyens 1892-1913
- Victor Tesch .?.-1913