VEREINIGTE INDUSTRIE-UNTERNEHMUNGEN AKTIENGESELLSCHAFT (United Industrial Corporation), or VIAG as it is commonly known, was formed in 1923 and is the holding company for various enterprises, controlled by the German Government. The business of this group includes the wholesale production of electric power, the manufacture of aluminium, nitrates, steel and miscellaneous products, the mining of lignite coal and banking.
The hydro-electric plants of the Viag system have an aggregate installed capacity of over 100,00o kw. The steam power plants of the system have an aggregate installed capacity of nearly Soo, 00o kw. During 1928 the combined output of the power plants controlled by Viag was in excess of 3,000,000,00o kw.
Through its subsidiaries engaged in the production of aluminium Viag is the dominant factor in the German aluminium industry. The aggregate production by these subsidiaries now exceeds 25,00o tons per annum. One of the Viag subsidiaries ranks among
the leading companies in the German nitrate industry with an aggregate annual production of approximately 40,000 tons. Other subsidiaries of the Viag, domiciled in various parts of Germany, are engaged in the production of smelting and foundry products, motor-cycles, agricultural machinery, typewriters, textile ma chines, magnet armatures and precision-tools.
The banking subsidiary, Reichs-Kredit-Gesellschaft A.G., is an important factor in the economic life of Germany. It has capital, reserves and surplus of over 13,000,000.
In addition to the subsidiaries which it controls through the ownership of all or a majority of their capital stocks, Viag has large interests in other German enterprises. (G. KR.)