Rheinmetall Automotive: Difference between revisions

[[Karl Schmidt (Unternehmerentrepreneur)|Karl Schmidt]] (1876 to 1954), son of [[NSU Motorenwerke|NSU]]- founder Christian Schmidt, established in [[Heilbronn]], Germany, on April 1, 1910, ''Deutsche Ölfeuerungswerke''. Schmidt had served an apprenticeship at NSU in Neckarsulm and at Austin in [[Birmingham]], UK. At NSU he was a senior engineer and authorized signatory. He was awarded a patent for an oil-fired metal-smelting furnace, went on to produce smelting furnaces besides processing aluminum scrap. In 1917, he moved to Neckarsulm where he expanded his enterprise and also manufactured blank pistons for the auto industry. In 1924 and for the repeated expansion of the business Frankfurt-based [[Metallgesellschaft]] acquired a majority stake in the company. Its founder Karl Schmidt withdrew in 1927. The production of finished pistons commenced in 1934; in 1937, the Furnace division was sold off. In the course of an air raid in March 1945, the Neckarsulm plant was almost totally destroyed but then rebuilt after the War. Until February 1948, the plant, which was undergoing reconstruction, was confiscated for reparation purposes and up to April 1949 its assets were frozen. In 1951, around 1,100 people were employed at Kolbenschmidt’s Neckarsulm plant and another 500 in Hamburg. The company grew steadily in the 1950s and early 1960s. Growth stagnated slightly during the recession of 1966/67 although with five plants and altogether 5,400 employees, Kolbenschmidt was in 1969 Europe's biggest aluminum caster and market leader among the manufacturers of pistons and bearings. 1972 saw the introduction of NC machinery and starting from 1976 [[Computer-aided design|CAD]] programs. In 1978, annual sales topped DM 500 million. In the 1980s, the company expanded abroad and as a consequence, group sales surged. Late in the 1980s, group sales exceeded DM 1 billion for the first time, reaching DM 1.288 billion in fiscal 1988/89, with non-German sales accounting for 42.1 percent. In 1989, Kolbenschmidt AG had a workforce of 6,389, including 3,412 at the parent plant in Neckarsulm. KSPG AG is still in the immediate vicinity of Audi AG and the two together provide more than one-half of the just under 30,000 jobs at Neckarsulm.