Entry on August Thyssen-Hütte in the production and sales plan of Vereinigte Stahlwerke AG, 1929.
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In 1925 the need for capital and the excess capacities on the German steel market convince August Thyssen, by then over 80, to agree in principle to transfer his companies to a new merged group, Vereinigte Stahlwerke AG, bringing together all coal and steel companies in the Ruhr area with the exception of Hoesch, Gutehoffnungshütte, Mannesmann, Klöckner and Krupp. The aim of the merger is to solve the cost and production problems facing the iron and steel industry caused by excess capacities. A few weeks after August Thyssen's death (April 4, 1926) his son Fritz and his nephew Hans (for the Joseph Thyssen line) agree to transfer their Thyssen companies to Vereinigte Stahlwerke AG.
Fritz Thyssen is appointed supervisory board chairman of the new group. Upon foundation of Vereinigte Stahlwerke AG, Thyssen's coal and steel operations are valued at 26% of the nominal capital stock of 800 million reichsmarks. Heinrich Thyssen-Bornemisza does not transfer his industrial inheritance to Vereinigte Stahlwerke AG, but initially combines these companies in August Thyssen'sche Unternehmungen des In- und Auslandes GmbH.
