Vereinigte Stahlwerke

Founded in 1926, economic pressures (decreasing prices and excess capacities) led to the union of several companies, including Thyssen AG, Phoenix AG für Bergbau und Hüttenbetrieb [de], Rheinische Stahlwerke, Rhein-Elbe-Union GmbH, Deutsch-Luxemburgische Bergwerks- und Hütten-AG, Bochumer Verein [de; no], and Gelsenkirchener Bergwerks-AG [da; de].

During the 1930s, VSt was one of the biggest German companies and, at times, also the largest steel producer in Europe.

[1] In 1932, as a result of the effects of the Great Depression, part of the company was nationalized to prevent bankruptcy.

[2] The Nazi government re-privatized the stocks four years later so that the Vst achieved a net win of 33 million RM.

However, as the Vst was unable to fulfill the demands of the Nazi government, another steelworks, the Reichswerke Hermann Göring, was founded in Salzgitter.