Two brothers, Adolphe and Eugène Schneider, acquired the Creusot mines, forges and foundries in France in 1836. Their main markets were steel, heavy industry, railroads and shipbuilding. Eugène's son, Henri Schneider, recognized the superiority of steel for military use. New processes introduced in the 1860s and 1870s yielded a stronger steel at a lower cost.
Schneider's innovations in iron and steel production quickly led to it becoming one of Europe's leading manufacturers of weapons and infrastructure. By 1900 Eugène II had made investments in many countries in mining, electricity and steel. Most of Schneider's exports stemmed from its success in weapons manufacturing. |