What does VEB mean in German?

Volkseigener Betrieb

The Publicly Owned Operation was the main legal form of industrial enterprise in East Germany. They were all publicly owned and were formed after mass nationalisation between 1945 and the early 1960s, and the handing back in 1954 of some 33 enterprises previously taken by the USSR as reparations. The managing director of a VEB was called a plant or works manager. He was assisted in his tasks by the first secretary of the factory party organisation of the SED, and the chairman of the factory trade union. Subordinate to them were roles such as "Chief Accountant" and "Technical Director". VEBs were initially vertically integrated into units called Associations of Publicly Owned Operations or VVBs. A VVB existed in most major industries, to consolidate production and reduce waste. They had all been replaced by 1979 with the VEB Kombinate, or VEB Group, which integrated the VEBs much more closely than the largely administrative VVBs. Under this system, the term 'Kombinate' was frequently dropped and the term "VEB" usually implied the group rather than the individual factory. The organisation of all state enterprises was the responsibility of the State Planning Commission.

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