At the close of the war, Thuringia fell under Soviet control and the company eventually became an East German "Publicly Owned Operation" (i.e. a state-run enterprise).
From 1 January 1970, the undertaking was renamed VEB Kombinat Verkehrsbetriebe der Stadt Leipzig (LVB) ("People's Collective Enterprise 'Transport Services of Leipzig City'").
Called VEB Sachsenring until 1990, it was a producer of vehicles in the former German Democratic Republic, its most famous product being the Trabant.
From 1949-1990, Klingenthal was home to the Klingenthaler Harmonikawerke, a state-owned company that was the main producer of accordions, harmonicas, and electronic instruments in East Germany.
It became part of the (nationalized) transport undertakings operated as Volkseigener Betrieb Kombinate ("People's Collective Enterprises") in 1970.
On the other side, there was a loading facility for VEB Müllabfuhr (the state waste-disposal company).
The industrial sector, employing 40% of the working population, was subjected to further nationalization, which resulted in the formation of "people's enterprises" (German: Volkseigener Betrieb, VEB).
Whereas the first half of the song title “VEB Heimat” refers to the socialist-tinted expression "Volkseigener Betrieb" (a state owned workplace or establishment in the German Democratic Republic) the second word “Heimat” is a thoroughly and hard to translate German term, comparable to "homeland" in English.