Otto Wolff AG
German metals trading and steel-industry business founded in Cologne in 1904 and later incorporated into the ThyssenKrupp group.
Last updated August 24, 2026
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Overview
Otto Wolff AG was a German metals and steel enterprise founded in Cologne in 1904 by industrialists Otto Wolff and Ottmar E. Strauß. Its original business, Otto Wolff Eisengroßhandel, combined wholesale iron trading with the recovery and sale of steel scrap and other metal materials. The company expanded rapidly after the First World War, moving beyond merchant activities into ownership interests, industrial participation, and a broader network covering metals, coal, electrical businesses, and related manufacturing activities. A major early step in the company’s expansion was the acquisition of a stake in Phoenix AG für Bergbau und Hüttenbetrieb in 1917. In October 1922, Otto Wolff also took a 50 percent interest in Deutsch-Russische Handels-AG, commonly known as Russgertorg, a Russo-German trading venture. The joint venture became one of the largest commercial projects linking German business with the Soviet Union at the time, although it ended after approximately fifteen months as the Soviet state tightened its control over foreign trade. During the 1920s, Otto Wolff developed into the center of a large industrial group with interests in metals, coal, electrical equipment, and related companies. Its scale made it a major rival to the industrial trust associated with Hugo Stinnes. The company’s history was also shaped by political coercion and wartime economics. After the National Socialist regime came to power in 1933, Ottmar E. Strauß, who was Jewish, was forced to sell his shares at an undervalued price. Following the death of Otto Wolff in 1941, control passed to his son, Otto Wolff von Amerongen. During the Second World War, the business participated in armaments production for the German armed forces. After the Allied occupation in 1945, the company was placed under trustee control. Otto Wolff von Amerongen regained control in 1947 after a period of internment. Later claims by the heirs of Ottmar Strauß led to years of legal proceedings and ultimately to a settlement of seven million Deutsche Marks, described in the historical record as only a fraction of the original value of the shares. Otto Wolff became a public limited company in 1966. Otto Wolff von Amerongen remained chairman until 1986 and was an important figure in the company’s postwar development and international commercial relationships. Thyssen acquired the company in 1990. Following the 1999 merger of Thyssen and Friedrich Krupp AG Hoesch-Krupp, Otto Wolff became part of the enlarged ThyssenKrupp organization. Within ThyssenKrupp, the Otto Wolff activities were divided into separate businesses. ThyssenKrupp Otto Wolff N.V./S.A., based in Mechelen, Belgium, handled semi-finished plastics and aluminum profiles and became part of ThyssenKrupp Plastics International GmbH. Otto Wolff Handelsgesellschaft mbH focused on metal materials, technical components, and equipment. That business moved from Cologne to Düsseldorf in 1993 and later to Essen in 2010. It expanded through the acquisition of ThyssenKrupp Stahlunion Polska and an interest in Erich Weit GmbH in 2004, followed by the integration of Isan Metall GmbH in 2005. In 2013–2014, Otto Wolff Handelsgesellschaft mbH was integrated into ThyssenKrupp Mannex GmbH. The Otto Wolff name therefore survives primarily as a historical and organizational identity within ThyssenKrupp’s metals-trading and materials businesses rather than as an independent listed steel producer.
History
Otto Wolff began in Cologne in 1904 as Otto Wolff Eisengroßhandel, a company founded by Otto Wolff and Ottmar E. Strauß to trade iron and recover steel scrap. Its initial merchant model developed into a broader industrial strategy after the First World War. In 1917, the company acquired a share in Phoenix AG für Bergbau und Hüttenbetrieb, and in 1922 it became a 50 percent partner in Deutsch-Russische Handels-AG, or Russgertorg. That venture represented an ambitious attempt to develop German-Soviet trade but lasted only about fifteen months because Soviet authorities imposed tighter controls on foreign trade. During the 1920s, Otto Wolff stood at the center of a substantial group of metals, coal, electrical, and related industrial companies. It was one of the leading German business groups of the period and competed with the trust associated with Hugo Stinnes. The company’s development was interrupted and morally compromised by the political conditions of the Nazi era. In 1933, Ottmar E. Strauß was forced to sell his shares below their proper value under the antisemitic expropriation policies of the National Socialist regime. After Otto Wolff’s death in 1941, his son Otto Wolff von Amerongen assumed control. The company produced armaments for the German armed forces during the Second World War. Following Germany’s defeat, Allied authorities placed the business under trusteeship. Otto Wolff von Amerongen returned to control in 1947 after being interned for one year. The former Strauß shareholders’ heirs pursued the restoration of their ownership through prolonged legal action. They did not regain the shares, but eventually received a settlement of seven million Deutsche Marks, characterized by the historical account as substantially below the former value. The company was converted into a public limited company in 1966. Otto Wolff von Amerongen served as chairman until 1986, overseeing a substantial part of the postwar company’s corporate life. Thyssen acquired Otto Wolff in 1990. The 1999 merger between Thyssen and Friedrich Krupp AG Hoesch-Krupp formed ThyssenKrupp AG and placed Otto Wolff within the new group. After the merger, the Otto Wolff name was used for more than one operating configuration. ThyssenKrupp Otto Wolff N.V./S.A., located in Mechelen, Belgium, concentrated on semi-finished plastic materials and aluminum profiles and became part of ThyssenKrupp Plastics International GmbH. Otto Wolff Handelsgesellschaft mbH concentrated on metal materials, technical components, and equipment. The latter moved from Cologne to Düsseldorf in 1993 and to Essen in 2010. It acquired ThyssenKrupp Stahlunion Polska and an interest in Erich Weit GmbH in 2004, incorporated Isan Metall GmbH in 2005, and was integrated into ThyssenKrupp Mannex in 2013–2014. The brand consequently represents both a historic German steel-trading enterprise and a set of successor activities within the ThyssenKrupp materials organization.
- 2014
Integration into ThyssenKrupp Mannex
[1]Otto Wolff Handelsgesellschaft mbH was integrated into ThyssenKrupp Mannex during 2013–2014.
- 2010
Essen relocation
[1]Otto Wolff Handelsgesellschaft mbH moved its location from Düsseldorf to Essen.
- 1999
Becomes part of ThyssenKrupp
[1]The Thyssen–Krupp merger created ThyssenKrupp AG, under which the Otto Wolff activities were subsequently reorganized.
- 1990
Acquired by Thyssen
[1]Thyssen acquired Otto Wolff and incorporated it into its group.
- 1966
Conversion into a public limited company
[1]The partnership was converted into a public limited company, with Otto Wolff von Amerongen continuing as chairman.
- 1947
Otto Wolff von Amerongen resumes control
[1]Following a year of internment, Otto Wolff von Amerongen regained control of the company.
- 1945
Postwar trusteeship
[1]After the Allied occupation, the company was placed under trustee control.
- 1933
Strauß shares forcibly transferred
[1]Ottmar E. Strauß was compelled to sell his shares at an undervalued price under the Nazi regime’s antisemitic expropriation policies.
- 1922
Russgertorg joint venture
[1]The company took a 50 percent stake in Deutsch-Russische Handels-AG, a Russo-German trading venture that later ended when Soviet foreign-trade controls tightened.
- 1917
Investment in Phoenix AG
[1]Otto Wolff acquired a share in Phoenix AG für Bergbau und Hüttenbetrieb.
Products and positioning
Historically positioned as a large German steel and metals merchant with industrial holdings, trading capabilities, and interests across heavy industry. In its later ThyssenKrupp configuration, the business served as a materials distributor and supplier of technical components rather than a standalone primary steel producer.
Steel and metals trading · 1904
Steel and iron products
The original Otto Wolff business traded iron and steel and handled steel-wrecking and scrap-recovery activities. Over time, this developed into broader wholesale distribution of metal materials and participation in the steel industry rather than a narrowly focused primary steelmaking operation.
Industrial materials
Semi-finished plastics
The ThyssenKrupp Otto Wolff N.V./S.A. successor business handled semi-finished plastic materials for industrial customers. It was based in Mechelen, Belgium, and became part of ThyssenKrupp Plastics International GmbH.
Non-ferrous metal products
Aluminum profiles
Aluminum profiles formed part of the product scope of the ThyssenKrupp Otto Wolff N.V./S.A. materials business, alongside semi-finished plastics. The activity was subsequently managed within the ThyssenKrupp plastics and materials organization.
Industrial components
Technical components and equipment
Otto Wolff Handelsgesellschaft mbH supplied metal materials, technical components, and equipment. These activities complemented its role as a metals distributor and were later integrated into ThyssenKrupp Mannex.
Controversies
1941
Wartime armaments production
During the Second World War, Otto Wolff participated in armaments production for the German Wehrmacht. This forms part of the company’s documented history under the Nazi regime.
1933
Forced transfer of Ottmar E. Strauß’s shares
Under the Nazi regime, Jewish co-founder Ottmar E. Strauß was forced to sell his ownership stake at an undervalued price. After the war, his heirs pursued restitution through litigation but ultimately received a monetary settlement rather than restoration of the shares.
Brand decisions
1999
Reorganization within ThyssenKruppStrategyBackground
The merger of Thyssen and Friedrich Krupp AG Hoesch-Krupp created a much larger industrial group.
Action taken
Otto Wolff activities were divided between a materials business handling plastics and aluminum profiles and a trading business focused on metals, technical components, and equipment.
Aftermath
The Otto Wolff identity continued within several ThyssenKrupp operating units rather than as a fully independent enterprise.
1990
Sale to ThyssenM&ABackground
After decades as a major independent German industrial and metals group, Otto Wolff entered a new ownership phase.
Action taken
Thyssen acquired Otto Wolff.
Aftermath
The company later became part of ThyssenKrupp following the 1999 Thyssen–Krupp merger.
1922
Enter the Russo-German trading ventureStrategyBackground
Otto Wolff sought to expand its international trading reach during the postwar period and participated in a major joint venture linking German and Soviet commerce.
Action taken
The company acquired a 50 percent interest in Deutsch-Russische Handels-AG, known as Russgertorg.
Aftermath
The venture ended after approximately fifteen months as the Soviet Union imposed stricter state control over foreign trade.
Recent events
- 2014
Otto Wolff Handelsgesellschaft integrated into ThyssenKrupp Mannex[1]
Other
The Otto Wolff Handelsgesellschaft business was integrated into ThyssenKrupp Mannex during 2013–2014, further reducing its operational independence within the group.
- 2005
Isan Metall integrated into Otto Wolff Handelsgesellschaft[1]
M&A
Isan Metall GmbH was integrated into Otto Wolff Handelsgesellschaft mbH as part of the continuing consolidation of ThyssenKrupp’s materials businesses.
- 2004
Otto Wolff Handelsgesellschaft expands through acquisitions[1]
M&A
The trading business acquired ThyssenKrupp Stahlunion Polska and took an interest in Erich Weit GmbH, extending its materials-distribution activities.
- 1999
Otto Wolff activities reorganized after the ThyssenKrupp merger[1]
M&A
The merger of Thyssen and Friedrich Krupp AG Hoesch-Krupp created ThyssenKrupp AG, within which the Otto Wolff activities were reorganized into separate materials and trading businesses.
- 1990
Otto Wolff is acquired by Thyssen[1]
M&A
Thyssen acquired Otto Wolff, bringing the long-established German metals business into its corporate group.
Sources1 sources
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