MAN Ferrostaal subsidiaries around the world – including those in Australia and New Zealand – are dropping the 'MAN' from their name, following changes in the German commercial register. The change from 'MAN Ferrostaal' to 'Ferrostaal takes place immediately, and the company will no longer incorporate the letters MAN in its logo. The change follows the acquisition of a majority stake by the International Petroleum Investment Company of Abu Dhabi, and Ferrostaal subsequently leaving the MAN Group. Ferrostaal AG Essen is a global provider of industrial services in plant construction and engineering. Its activities as a general contractor cover plant construction and project services including petrochemical plants, gas and solar power stations, oil and gas installations, biofuels and industrial plants. Ferrostaal operates as an independent sales and service partner for machine and systems manufacturers in the automotive, printing and packaging machinery, piping and marine construction sectors and employs around 4400 people in 60 different countries. In 2008, its annual turnover amounted to 1.6 billion Euros. Some 70 per cent of the shares are held by IPIC, with the balance owned by MAN AG (Munich, Germany).