On November 20, 1811, Friedrich Krupp (1787-1826), member of an old Essen family of merchants, and two partners found a factory for the manufacture of English cast steel and products made from this steel. From 1816 as sole proprietor he manufactures high-quality cast steel which he uses to produce tanner's tools, coining dies and coin blanks.
Following his untimely death his widow, Therese Krupp (1790 - 1850), continues to run the small business with a handful of employees, helped by her then 14 year old eldest son Alfred (1812-1887). He continues with the production of cast steel, but shifts manufacturing operations toward finished products, primarily precision rolls for which he provides a guarantee of quality. After import duties are lifted, sales are expanded abroad.