THE KRUPP-WORKS

Evening Post, Volume CVI, Issue 32, 7 August 1923, Page 7

THE KRUPP-WORKS

CONTROL SOLD TO ANGLO FRENCH COMBINE

OTHER'FIRMS MAY FOLLOW

LONDON, 6th August. The "Daily Herald" declares that a controlling share ill Krupp's works hue been bought by an Anglo-French coinDine, headed by M. Loueheur, the French industrial magnate and politician, M. Wendel, a leading Lorraine ironmaster, and- Mr. Leslie Drquhart, of the Russian Asiatic Consolidated. The "Herald" states that behind the scenes of the .Ruhr occupation the eale negotiations have been proceeding for some tijne. The first were with the Schneider-Creusot group, but these Droke down because Herr Schneider irovn too hard a bargain. The Krupp family retains part of the undertaking, but'the controlling ' share in the Essen coal and steel works and iron mines at Limburg, Weilburg, Braunfels, Dillenburg, and Siegen pass to the newly-formed group. The "Herald" says that incidentally Krupp's workers, who have invested a hundred million marks under a profitsharing scheme, will lose practically averythiug immediately the agreement is .. concluded.. Passivo resistance by Krupp's workers died away under threats of dismissal. The "'Herald" asserts that other German firms are prepared to follow the Krupp lead.