German steelmaking armaments firm, founded in
the early 19th century, and developed by
Alfred Krupp (1812-87) by pioneering the
Bessemer steelmaking process. It developed
the long-distance artillery used in World War
I, and supported Hitler's regime in
preparation for World War II, after which the
head of the firm was imprisoned. In 1850
Alfred, later known as the `cannon king',
moved into the armaments business. Further
expansion took place under his son, Friedrich
Alfred (1854-1902), and his granddaughter,
Bertha (1886-1957). Krupp continued to
flourish as two world wars demanded iron and
steel. With Germany's defeat 1945, Alfred
Krupp (1907-67) was convicted of war crimes,
sentenced to 12 years in prison, and ordered
to sell 75% of his holdings. When no buyers
could be found, Krupp was given a generous
amnesty and was soon back in business. The
family interest ended shortly after his death
when his heir, Arndt, renounced all interest
in the business and Krupp became a public
corporation.