Word: tte
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...steel market, mergers to streamline production are becoming a must for survival. For a year now, 29 German steel producers have been coordinating their sales and investments through four regional cartels regarded as laboratories for eventual mergers. Last week two major steel companies, the legendary August Thyssen-Hütte and the oldest Ruhr steel producer, Hüttenwerk Oberhausen A.G. (HOAG), announced merger plans that would make them the world's fourth largest steel company, after U.S. Steel, the recently nationalized British Steel Corp. and Bethlehem Steel...
Rumania has been buying from a horde of hungry Westerners. The West German firm of Gutehoffnungshütte won a $20 million share in building the mammoth Galati Steel Mill at the Rumanian end of the Danube-and when the deal was consummated, at a candle-light-cum-gypsy-violin blowout in Bucharest, the Rumanian Deputy Minister for Heavy Industry, Constantin Nācutā, executed a neat hora on the tabletop. Demag and Siemens, Krupp and M.A.N. all add to a German investment in Rumania that exceeds $50 million. Italy's Orlandi is building...
...industry orders are down to a two-month backlog, cut the work week for 1,500 men. Britain's Richard Thomas & Baldwin-the only large steelmaker still nationalized-announced plans to shut down two open hearths at Ebbw Vale, thus idling 300 men. Giant August Thyssen-Hütte, Europe's biggest steel company, gloomily expects to cut its work hours soon...
...Eight. The trend toward reconcentration of West German industry affects more than Krupp. Eight big firms-Krupp (with Bochumer Verein), Dortmund-Horder Hlittenunion, Phoenix-Rheinrohr, Mannesmann, Hoesch Werke, Klockner-Werke, August Thyssen-Hütte, Hüttenwerk Oberhausen-control 75% of West Germany's steel production, almost 40% of German coal...
...make the ring even tighter, August Thyssen-Hütte, one of the keystones of a huge Third Reich steel combine of 177 companies, has applied to the High Authority to merge with Phoenix-Rheinrohr, West Germany's third biggest steel producer. The move would create a giant even bigger than Krupp-Bochumer Verein, with a 6,000,000-ton capacity and nearly $1 billion in sales. Mannesmann, the No. 4 steel producer, recently eliminated several of its subsidiaries, absorbed them into the main firm. The trend to growth extends beyond iron and coal. Friedrich Flick, a prewar steel...