The first `` level of industry '' plan , signed by the Allies on March 29 , 1946 , had stated that German heavy industry was to be lowered to 50 % of its 1938 levels by the destruction of 1,500 listed manufacturing plants .
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 plants .