West Germany: The Little Man

Less than five years ago, oblivion loomed for West Germany's proud old Henschel Works. Founded in 1810 as a family machine shop, Henschel had long ranked as Europe's biggest producer of railroad locomotives and one of the Continent's major truck builders. But in the years following World War II, the company's family management stubbornly continued to concentrate on steam locomotives while Europe's railroads clamored for diesels and electrics. By 1958 Henschel was losing $2,000,000 a year, and creditors were beginning to encircle its huge new plant in the Hessian city of Kassel....

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!