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 .