Break-Up Of Six German Steel Trusts Decreed
(10 a.m )
BERLIN, Sept. 22.
The Allied High Commission today ordered the liquidation of Germany’s largest steel trusts. Six huge companies were ordered to be placed in liquidation at the close of business on May 30. The action came on the heels of a similar order this month to break up I. G. Farben, Germany’s chemical empire. The Allied decree did not disclose the size or number of the small companies which will be left from liquidation of the six steel trusts, but the Allied Commission’s special agency for governing the steel industry, the “combined steel group” at Dusseldorf will be in charge of the process. _ The historic armament firm. Friedrich Krupp and Vereinigte Stahlweke (United Steel Works) head the list. Others are Mannesmann Roehren-Werke, DloecknerWerke, Hoesch and Gutehoffnungschuette. all of them giants in the Ruhr.
The steel trusts have been marked for liquidation by Allied policy since the collapse of the Nazi regime but innumerable obstacles, including lack of agreement among the Allied planners, blocked the policy from taking full effect for five years.
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Gisborne Herald, Volume LXXVII, Issue 23366, 23 September 1950, Page 7
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182Break-Up Of Six German Steel Trusts Decreed Gisborne Herald, Volume LXXVII, Issue 23366, 23 September 1950, Page 7
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