The Lord
Krupp Stainless Dell
compelling story of Frederick Alfred Krupp, the German steel magnate who lived in the early 900's.
INFO
The Krupp family is a German dynasty over 400 years of history, native of Essen, who became famous for steel production and factories munitions and armaments. The family company, better known as Friedrich Krupp AG Hoesch-Krupp in 1999 merged with Thyssen AG to form the ThyssenKrupp (one industrial conglomerate). Krupp, the German vocabulary, has become synonymous with strong (in reference to the quality of the steel).
HISTORY
Friedrich Krupp (1787 - 1826) gave way to steel activities of the family, building a small steel foundry in Essen in 1811. His son, Alfred (1812 - 1887), known as "the Cannon King" or "Alfred the Great", invested heavily in new technologies to become a major manufacturer of locomotives and rolling stock. Also invests in technologies for the cooling of metals (particularly in the Bessemer process) and acquired many mines in Germany and France. He invested in subsidized housing for his workers and launched a program of mutual and pension. The company began to produce steel cannons in the 1840s - in particular for the armies of Russia, Ottoman Empire and Prussia. The low production is not required for military and government subsidy meant that the company specialized more and more in weapons: by the end of the year 1860 the production of armaments represented around 50% of the total production of Krupp. When Alfred started the company had five employees. At his death, twenty thousand people worked for Krupp - making it the largest industrial company in the world.
During World War I, some criticized the policy for the sale of Krupp cannons to the Triple Entente, in addition to the Central Powers, a policy which generated high profits. (It is said that Ford and GM acted similarly during the Second World War, but the U.S. parent companies did not control their German subsidiaries during the conflict.)
After Hitler took power in Germany in 1933 , Krupp became the center of German rearmament. In 1943, by special order of Hitler, the company became a holding company of family and Alfried Krupp von Bohlen und Halbach (1907-1967), son of Gustav Krupp, took over management. After Germany's defeat, when Gustav proved incapable of going to trial, the Nuremberg Tribunal condemned Alfred as a war criminal (in the so-called "Krupp Trial") for the use of slave labor by the company. He was sentenced to 12 years in prison and forced to sell 75% of its assets. In 1951, with the development of the Cold War and since no buyer came forward, the authorities released him, and in 1953 regained control of the company.
In 1999 the Krupp Group merged with its main competitor, Thyssen AG, the company that resulted, ThyssenKrupp, the German company became the fifth size and a leading producer of steel in the world.
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