What started as a small iron works, built by Köln-based engineer Julius Buch in 1873, later became one of Europe’s largest steelworks after it was acquired by the Rüchling family in 1882. The first blast furnace was built in 1883, and four more were added in the course of the next 10 years. By 1903, when the sixth furnace was built, a giant coking plant had arisen on the site. In the 1930s, the iron works further expanded, when a large ore sintering plant was added. The steelworks played an important role in the field of research and development as many new techniques were first implemented in Hütte V. The plant thus functioned as a model for many other steelworks around the globe until it had to shut down in 1986.