In 1910 came the hour of the Deutsche Maschinenfabrik in Duisburg – known worldwide by its telegram abbreviation Demag (now Demag Cranes & Components GmbH).[1]:429–430 In 1973 The Mannesmann group assumed ownership of Demag. Since that time the company has continued to grow and change. Parts of the company under core business structuring moved from its ownership to focus the main concept of the company.