There's an earlier synopsis by Tassos Papiomytoglou down below Elektra.
In the Swiss Alps, Iron Man is under attack by a trio of Dreadnoughts, blasting him with beams of liquid fire. Shellhead flies low over the Siege Engineers' gunship, which distracts the deadly but dim-witted robots into attacking the Engineers while he heads back to the ruins of the chalet. There, he finds Countess Stephanie de la Spirosa and her butler in a safe room and carries them to another hotel. Iron Man returns to the scene of battle to find everyone gone....
Back at Stark Solutions in New York, a new hire named Doreen is flirting shamelessly with Happy Hogan while Pepper Potts fumes....
The next day, Tony Stark meets with Stephanie and she fills him in on the back story: at her late husband's funeral she was approached by Andreas Kapelos who offered to buy her husband's company and made sinister threats when she declined; that's why she contacted Tony, though she was under surveillance and afraid to come out and tell him the problem earlier. He assures her he has forgotten her earlier actions against him (TALES OF SUSPENSE #69-72). Tony receives a call from Pepper: Andreas Kapelos is a notorious villain known as the Arms Merchant so Tony goes on a TV news show to announce that he and Iron Man are about to expose the Arms Merchant and capture his client list. This really concerns the Mandarin who demands efforts be redoubled to destroy Stark....
That night, Iron Man meets his foes—five Dreadnoughts—armed with only a five foot segment of a steel beam, telling the baddies that is what he'll use to take them down. They immediately fire on the I-beam, melting it and Iron Man hurls it so that each robot receives a dollop of steel in the midsection. Shellhead then sprays snow at them before taking a beating. He flies off and leads them crashing though the roof of the secret arms plant. As the guards and the Dreadnoughts fight each other, the Golden Avenger locates Andreas Kapelos and informs him that he used a bit of molten steel to seal up the Dreadnoughts' cooling vents and added a little snow to cool it into place—and the robots will be exploding any minute. Kapelos willingly turns over his client list in exchange for Iron Man leading the deadly robots away. He then leads them on a great flight through the skies until the things finally explode....
Tony has a romantic farewell with Countess Stephanie as she announces she will take control of her late husband's company in his memory....