Before the reunification of Germany in 1990 there were over 8,000 state run enterprises in the GDR. The VEB (Volkseigener Betrieb) were publicly owned enterprises which were created after the second world war, during the period when there was a mass national nationalization of the private sector in the then Communist run half of Germany.
Just before the fall of the Berlin Wall, in 1989 around 80% of East Germans were employed by a VEB. After the reunification of Germany the VEB enterprises were placed in the control of the Treuhandanstalt, an agency which was established to oversee the privatization of these thousands of state owned enterprises. The Treuhand broke up, sold and liquidated these enterprises bringing an end to many well known and established East German products.
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