Word: rheinhausen
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...Union membership is also dwindling. IG Metall, the metalworkers' union, has lost around 25% of its members in the past decade. In Duisburg, the last big test came in 1987, when steelmaker Krupp (which has since merged with former rival Thyssen) decided to shut down its plant in the Rheinhausen section of the city. For almost six months, steelworkers - joined by local students, miners, shopkeepers and police officers - demonstrated to save the plant. The workers lost and Krupp sold the plant to China...
Rebuilding the corporate structure partly dismantled by Allied postwar regulations, Krupp reacquired such major divested properties as Bochumer Verein, a profitable high-quality steel plant, and Capito & Klein, originally part of the big Rheinhausen steel mill, went on to buy several big steel fabricators. It failed to sell Rheinhausen as required by an Allied directive, and the deadline has been extended so often (every year since 1958) that the sale is now regarded as a dead issue. Krupp might have done better to sell: Beitz admits that Rheinhausen is losing money, and outsiders guess that the loss has been running...
KRUPP INDUSTRIAL EMPIRE, decentralized after World War II, was reunited with merger of Krupp's coal, steel and iron-ore divisions into Rheinhausen Coal & Steel. Sole shareholder: Alfried Krupp...
...Allied ruling on Krupp, later written into German law, was designed to break up the huge combine that supplied Hitler with much of his arms. Krupp won extensions from the original March 1958 deadline by pleading he could not find a buyer for the Rheinhausen works, center of his coal and steel holdings. Permission for Rheinhausen to buy the new company made it almost certain that Krupp will not have to keep his promise to dispose of his coal and steel holdings this year. Said a Krupp spokesman: "The promise was given under compulsion...
ALFRIED KRUPP will make bold bid to become Europe's biggest steelmaker, although allies have ordered him to sell off all coal and steel properties by end of 1958. Krupp-owned Rheinhausen Steel Works (capacity: 2,300,000 tons a year) has petitioned European Coal & Steel Community for permission to buy Bochumer Verein works (capacity: 1,560,000 tons). Krupp would pay $30 million to $40 million for Bochumer, which is controlled by his good friend, Swedish Millionaire Axel Wenner-Gren...