The company was founded as the "Schiffswerft und Maschinenfabrik von Wilhelm Zeltz und Albrecht Tischbein" in 1850 and their first iron steamship was launched in 1851.
A firm was founded in 1850 under the name "Shipyard and Manufacturing Plant of Wilhelm Zeltz and Albrecht Tischbein," and its initial iron-powered steamship made its debut in 1851.