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...fabled Essen-based Krupp industrial empire, which supplied munitions for Germany's military forays for more than a century, was owned entirely by the Krupp family in 1967 when near bankruptcy forced the Krupps to relinquish control. But ownership still remained exclusively German, with 95% of Fried. Krupp Hüttenwerke AG, the steel-producing operating company, in the hands of a foundation. Last week, the Iranian government and the management of Krupp announced that Iran would acquire a fourth of Hüttenwerke's shares-at an estimated cost of $100 million...

Author: /time Magazine | Title: IRAN: Buying into Krupp | 7/29/1974 | See Source »

Ideal Marriage. The Krupp acquisition reflects Iran's ambitious industrialization plans. Hardly a week goes by without new commitments to mutual ventures or economic assistance to less developed countries, and one estimate is that the program already has resulted in outlays of some $9 billion. Iran and Krupp plan to set up a joint investment bank in Switzerland to finance projects outside West Germany. The steel-company acquisition is viewed by both Iranians and Krupp executives as an ideal marriage: Iran needs Krupp's technical know-how, and Krupp needs the infusion of capital from Iran. Last year...

Author: /time Magazine | Title: IRAN: Buying into Krupp | 7/29/1974 | See Source »

Company files show a barrage of letters to the S.S. and Gestapo commands demanding more "Subhumans" (French, Jewish, Russian or Eastern European) for the factories. Krupp officials in company uniforms selected prisoners for slave labor from those destined for the gas chambers. Krupp factories within sight of the crematoriums--or in the heart of German cities in plain view--produced the weapons of Nazi Germany with the labor of its victims. These workers were housed in dog kennels, in public urinals, tents and tunnels...

Author: NO WRITER ATTRIBUTED | Title: DIRTY MONEY? | 7/23/1974 | See Source »

Special attention should be drawn to the Krupp concentration camp at Buschmannshof where babies and small children of factory workers were murdered from 1942 to 1945. There are no known survivors and one can only guess at how many hundreds were killed...

Author: NO WRITER ATTRIBUTED | Title: DIRTY MONEY? | 7/23/1974 | See Source »

...such achievements the Krupps were honored with the coveted Golden Party Badge of the Nazi party. A special law--the "Lex Krupp"--was ordered by Hitler to ensure that the Krupp empire remained in the family's hands. Last month Harvard University became a beneficiary of the Krupp millions...

Author: NO WRITER ATTRIBUTED | Title: DIRTY MONEY? | 7/23/1974 | See Source »

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