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KruppA History of the Legendary German Firm$
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Harold James

Print publication date: 2012

Print ISBN-13: 9780691153407

Published to Princeton Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691153407.001.0001

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Risk

Risk

Friedrich Krupp

Chapter:
(p.9) One Risk
Source:
Krupp
Author(s):

Harold James

Publisher:
Princeton University Press
DOI:10.23943/princeton/9780691153407.003.0002

This chapter looks at the beginnings of the Krupp company, which were built out of the substantial investments left behind by the founder Friedrich Krupp's grandmother, Helene Amalie Ascherfeld-Krupp. After her death, Friedrich almost immediately merged his own trading firm into that of his grandmother and liquidated them both in order to concentrate on specialty iron known as Gussstahl or Tiegelstahl (cast steel) production. The venture looked like, and was, a wild speculation, giving up a solid business legacy for something that rested on an arcane and uncertain new mode of fabrication. The chapter traces Krupp's business decisions from that point on, taking note of his partiality for “English steel” as well as the eventual decline of his business later in life.

Keywords:   Friedrich Krupp, Helene Amalie Krupp, steel production, steel industry, English steel, family business, Therese Krupp, Alfred Krupp

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