In 1882, the founder of the company, Eugenio Erhardt Kausler, arrived in Bilbao with his wife, Alwine Lingenbrink. From that moment on, his life, family, and work became inextricably linked to the city that welcomed him.
That same year, he began his business activity as an agent for the German steel company Krupp, with the responsibility of overseeing the purchase of iron ore and its shipment to Essen, as well as managing the ships that sailed north loaded with iron ore and returned to Bilbao with processed steel products.
The city’s financial dynamism was striking: on a single street, Bidebarrieta, just over 100 meters long, six bank offices were lined up. Bilbao had 11 financial firms of varying sizes, including the city’s most important bank, the Banco de Bilbao, founded by local merchants in 1855.
These were years of growth and prosperity in Bilbao, marked by the significant development of mining, industry, and the port.