Original: The first German industrial plan, also known as the "level of industry agreement", was signed in early 1946 and stated that German heavy industry was to be reduced to 50% of its 1938 levels by the destruction of 1,500 listed manufacturing plants.
Simplified: It was signed in early 1946 and said that German heavy industry was to be cut down to half% of its 1938 levels by the destroying 1,500 manufacturing plantsHenry C. Wallich, Mainsprings of the German Revival (1955), pg.