Germany: Goring's Legacy

After three years of staggering losses that have earned it the dubious distinction of No. 1 money loser in West Germany, Salzgitter AG, the government-owned steel giant slumbering in the strip next to the East German border, is going to be shaken up. A plan approved by the Bonn Cabinet foresees mergers of its component parts with private industry and, if need be, the shutdown of unprofitable plants. In 1966, on sales of $800 million, Salzgitter suffered a net loss of $45 million.

The idea of building a steel complex in the middle of sugar-beet fields, which led to the...

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