Promise not held and an investment in receivership which will hurt in Lorraine, in the Loire and the North, where the steel industry has already been the victim of several crises. The NOVASCO metallurgist, ex Ascometal, which employs around 760 employees, was indeed placed on Monday in receivership by the Strasbourg court. The latter set at the end of September the deadline for the deposit of recovery projects, according to a union representative.
The 90 million euros promised not injected
The ex-ascumetal, which manufactures special steels, especially for the automotive sector, had been taken over in July 2024 by the British investment fund Graybull Capital. The latter has not injected the 90 million euros promised alongside the State, which brought 75 million euros to the company.
The calendar “constrained by the group’s level of cash” did not make it possible to set up a six -month observation period, said Yann Amadoro, CGT secretary of the Social and Economic Committee (CSE). “The treasury allows today to hold until the end of September at the beginning of October”, continues the trade unionist.
Potential buyers have manifested themselves
Applicants for the takeover have already been interviewed in July, some would have views of certain sites, but not on the principal, Hagondange, which employs 450 people in Moselle.
At the end of the agreement passed a year ago with Graybull, the State paid 75 million euros and 10 million are expected in the second half of August, according to Yann Amadoro.
