Three groups, the German Saarstahl, the Italian Beltrame and ArcelorMittal, had expressed interest in taking over the Ascoval steelworks in Saint-Saulve (North) and the Hayange rail factory (Moselle), sale at the beginning of May by the steel group Liberty Steel
In a press release published on Thursday 1er July, Bruno Le Maire, the Minister of the Economy, and Agnès Pannier-Runacher, the Minister for Industry, announced the signing of a ” agreement in principle “ between Liberty and the German steelmaker Saarstahl who “Paves the way for a transaction in the summer of 2021”.
“This agreement in principle needs to be further strengthened. This is why the government will be careful to ensure that the elements of securing this sale are provided in the coming hours ”, is it indicated.
This agreement, “Which brings out a new European player, is very good news for the future of the French steel industry and for the employees of the two sites. It gives concrete expression to our unwavering commitment to them to ensure the sustainability of their employment and of this strategic activity for France ”, estimated Mr. Le Maire.
With 270 employees, Ascoval produces blooms (steel “bars”) for Hayange (430 employees), which manufactures steel rails for European customers, notably SNCF Réseau and RATP.
The inter-union supports the Saarstahl project
A week ago, the Liberty Rail inter-union in Hayange called on the government to validate the project of the German group Saarstahl rather than that of Arcelor Mittal for the takeover of the Liberty Steel sites.
“Without hesitation, Saarstahl’s takeover offer is in every way better than Arcelor Mittal’s (…). It is a group on a human scale which will give us economic, social and industrial autonomy ”, said in a press release the inter-union of the Hayange rail factory, owned by Liberty Steel.
Liberty Steel, which brings together the steel activities of British magnate Sanjeev Gupta, has announced the listing of assets in the UK and Europe following difficulties since the bankruptcy of financial firm Greensill, of which he was one of the main customers.
According to a source familiar with the matter, Saarstahl proposed 3 million euros for the purchase of the two sites, and more than 40 million euros to be injected into investments, as well as 45 million for debt recovery.
The state announced at the end of March that it was going to release a loan of 20 million euros to Ascoval to allow the steelworks, with an already turbulent history, to pay salaries and continue activity.