Word: thyssens
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Dates: during 1950-1959
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HUGE RUHR MERGER is expected to link two former members of German steel trust dismantled in 1948. August Thyssen-Hütte (sales: $430 million) has asked permission from European Coal and Steel Community to buy Phoenix Rheinrohr (sales: $390 million). Authority will probably approve. Company would rank as Europe's biggest steelmaker, producing 5,000,000 tons a year, or 25% of West German supply, 10% of European Common Market output...
...Ruhr has a capacity of 15 million tons a year, but the allies, remembering Hitler, hold down Ruhr production to 11,100,000 tons for domestic use and export. Recently, the August-Thyssen Huette Steel Works asked permission to increase production from 117,000 to 1,000,000 tons. Last week a joint U.S.British-French board turned Thyssen down. The Germans were baffled. Does the West need the Ruhr badly enough to run the risks of its revival? By seeking West German participation in NATO, the West had implicity decided that it does. The answer no longer seemed so clear...
Died. Fritz Thyssen, 77, one of Germany's top prewar industrialists, "the man who made Hitler"; of a heart attack; in Buenos Aires...