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People-owned enterprises
Heritage and Re-OrganisationAfter long years of complicated arguments about Richter’s heritage, inflation after World War I leads to the loss of the entire company fortune and savings. In 1921 the company is fundamentally re-organized and divided into two state-controlled stock corporations. During the course of time, the company in Rudolstadt is turned into a People-owned enterprise (VEB) by the government of the German Democratic Republic.