 The monastery had been a centre of pre-industrial-age metallurgy and in 1366 had been granted the right to mine and process iron ore from Emperor Charles IV., only one year after he had given it erroneously to a local count.The monks then started what became later the industrial company with the longest historic tradition in Germany, the Schwäbische Hüttenwerke GmbH.1651 a furnace was lit and smelting didn't stop until 1908, when it had ceased to be profitable.