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Article: Dwindling dynasty. (Krupp Group earnings are down)
- Article from:
- The Economist (US)
- Article date:
- September 17, 1988
CopyrightCOPYRIGHT 1988 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BONN
BIG changes are in the offing at Krupp, the troubled 177-year-old West German industrial group, which is one-quarter owned by Ayatollah Khomeini. Once West Germany's biggest company in terms of sales, Krupp now languishes in nineteenth place, with sales last year of only DMI4.1 billion ($7.8 billion) compared with DM67.5 billion at Daimler-Benz, the new number one. All Krupp watchers, including a few optimists about it, agree on one point: things cannot go on as they are.
The name of Krupp used to be identified the world over with arms, steel and German industrial might. Now it tends to be identified domestically with boardroom squabbles, worker ...