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1953-1999 - Krupp during the Cold War

At the end of the war, large parts of the production facilities are destroyed, while other parts, such as the modern steel mill in Essen-Borbeck, are dismantled. The Grusonwerk plant is expropriated by the victorious Allies, the Germaniawerft shipyards are lost to destruction and subsequent dismantling. In late 1953 Alfried Krupp von Bohlen und Halbach appoints Berthold Beitz as his personal chief executive. From then on, Beitz plays a major part in setting company policy, which is initially restricted to the manufacturing operations; the steel mills and mines belonging to the Krupp company are sequestered and placed under a divestment order by the Allies. The company thus no longer has its raw materials and vital steel base.

In the subsequent years the remaining manufacturing operations form the basis of a restructured group. The product range is made as broad as possible in an attempt to make the company crisis-proof and secure job continuity. Added to this come the industrial plant operations, for whose products new sales markets are developed from the mid 1950s in the Eastern Bloc states and industrializing nations. In 1960 Krupp combines the remaining coal and steel operations and expands this basis by merging with Bochumer Verein für Gussstahlfabrikation AG, in which a majority interest had been acquired in the late 1950s. The Krupp plant opened in Brazil in 1961 supplies drop forgings for engines and motor vehicles. Greater emphasis is also placed on mechanical engineering, e.g. by acquiring a majority interest in Atlas-Werke AG with MaK Maschinenbau GmbH.

Alfried Krupp von Bohlen und Halbach dies in July 1967. After his death, the divestment order, which has only been fulfilled to a very limited extent, expires. In accordance with his last will and testament, and after his son Arndt (1938 - 1986) has renounced his inheritance, the non-profit Alfried Krupp von Bohlen und Halbach Foundation as his heir converts the company into Fried. Krupp GmbH, which is officially registered on January 2, 1968. Initially all shares are held by the Alfried Krupp von Bohlen und Halbach Foundation; in 1976 the state of Iran acquires a 25.01% interest in Fried. Krupp GmbH.

The coal mines are separated from the group in 1969 and transferred to Ruhrkohle AG. In the subsequent years, all the company's divisions undergo targeted expansion through organic growth and the acquisition of several important interests in the plant construction sector. The acquisition of a majority interest and subsequent takeover of Stahlwerke Südwestfalen AG provides for expansion in the stainless steel sector. By purchasing VDM Nickel-Technologie, the Group incorporates one of the world's leading suppliers of high-performance materials. In the period 1980 to 1983, Fried. Krupp GmbH spins off all its operating activities and is restructured into a purely management holding company.

The acquisition of a majority interest in Hoesch AG in Dortmund is followed by its merger with Fried. Krupp AG, as the company has been called since March 1992. The new company Fried. Krupp AG Hoesch-Krupp is entered in the Essen and Dortmund commercial registers in December. In the subsequent years the activities of the expanded group are reorganized. Key objectives are greater closeness to customers, enhanced market presence, concentrating on core businesses and the utilization of merger-related synergies.

As early as the 1980s negotiations are conducted on a merger of Krupp Stahl AG and Thyssen Stahl AG. Although the proposed alliance cannot be realized in 1983, the two companies cooperate closely in selected business areas. In 1997 the two groups' flat steel activities are combined to form Thyssen Krupp Stahl AG. In August 1997 Krupp and Thyssen hold talks on expanding their cooperation. They identify immense potential for strategic development and operating synergies in a full merger. This then takes place on March 17, 1999, when Thyssen Krupp AG is entered in the Commercial Register.

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Page last modified: 11-07-2011 03:01:38 ZULU