Word: rheinrohr
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Dates: during 1960-1969
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German businessmen were particularly stunned by the stature of the company and the colleague involved. Tapped by occupation authorities after the war as apolitical enough to manage part of the old Thyssen steelworks, Goergen built Phoenix-Rheinrohr into the nation's second largest steel company before he and Widow Amelie Thyssen, his principal stockholder, split in a disagreement over policy. With the $600,000 settlement that he received after resigning, Goergen bought into Henschel, a once mighty steam-locomotive maker in Kassel that had sagged into receivership because it had underestimated the diesel locomotive...
...Market approved in principle a major reconcentration of the Ruhr's legendary but war-splintered Thyssen steel empire. The six-nation High Authority said that a "favorable decision" can be expected within a month on the petition of the August Thyssen Corp. to buy out the nearby Phoenix-Rheinrohr Corp., which was a part of the Thyssen empire before the Allied occupiers broke it up. The result: a 7,000,000-ton, $1 billion-a-year combine that will vie with Italy's Finsider as Europe's largest steelmaker...
...howl went up in West Germany, Russia's No. 1 oil-pipe supplier (633,000 tons from 1959 through last October). Just three and a half months ago, three giant Ruhr firms-Mannesmann, Phoenix-Rheinrohr AG, and Hoesch-signed a contract for another 200,000 tons. Ruhr steelmen denounced Chancellor Konrad Adenauer as a NATO stooge for trying to enforce the new rules. Taken aback, Adenauer's Cabinet last week agreed to reconsider, turned the problem over to a special subcommittee for special study...