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In 1929, Albert Iffert and his two sons Christian and Karl Krauss founded Albert Iffert & Co., known as Albico, in the village of Schweina, now bart of Bad Liebenstein. Beginning with approximately 10 employees, the company built a factory in 1935 and 1936 which increased that number to twenty. Albert Iffert, who was born November 1, 1882, died in 1951, but the company continued production of turned wooden items after that point.