Word: ssinging
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...With a return to normal times and increasing competition, trouble began. Salzgitter's iron ore proved inferior and too expensive to compete with ore from Sweden, Venezuela and Liberia. Ore stockpiles grew to 2,300,000 tons. Seeking to diversify, Salzgitter blundered into acquiring the ailing Büssing truck works for $12.5 million in the early 1960s. Recently Treasury Minister Kurt Schmiicker called that decision "the most striking error made by a company's management in the past few years." Büssing now contributes more than half of Salzgitter's losses; every fourth truck from...
...each to restore a balance between steel and rolling-mill capacities. The merger of Salzgitter's shipyards, Howaldtswerke of Kiel and Hamburg, with Deutsche Werft, a private shipbuilder, into a vast enterprise with combined sales of $200 million will take place Jan. 1. Büssing will cut its labor force by 2,000, and has been ordered to try cooperation agreements with other truckmakers that might eventually lead to merger...
Died. Günther Rössing, 63, captain of the Bremen, Germany's newest and biggest (702 ft., 1,200 passengers) luxury liner; of a heart attack while standing on the bridge of his ship midway in the Atlantic, while bound for New York...
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