A disappointed epilogue will wait. The commercial chamber of the Strasbourg judicial court postponed until Monday 17 November its decision regarding the takeover of the Novasco steel group, 760 employees. Two prospective buyers of used Ascométal sounded in a non-public hearing on Wednesday, hoping to convince that their bids are seriously financed. If the assembly refused to give its decision publicly, the lawyers of Novasco’s Central Social and Economic Committee announced that it had accepted the offer from the consortium of French investors gathered around Julien Baillon, head of SME Métal Blanc Ardennes. It proposes to maintain activity at the Dunes site only, at Leffrinkoucke, near Dunkirk.
Proposals from rival Europlasm envisage the takeover of the Saint-Etienne, Custines (Meurthe-et-Moselle) and Leffrinkoucke sites near Dunkirk (North). The Hagondange electrical steel factory was planned to be maintained with 450 employees, but had to endure massive layoffs. The group was placed in receivership in mid-August.
Several dozen employees arrived by bus from the Hagondange (Moselle) site and gathered Wednesday in front of the Strasbourg courthouse, where CGT set up a tent and served coffee. “Whatever happens, it will be a bad day for the employees”has predicted the CGT union delegate from the Moselle site Yann Amadoro to the press. The expected decision as “disaster” Or “very awesome”according to her.
Hagondange employees had planned a blockade on Thursday and Friday, to demand improvements to departure conditions. And Novasco staff representatives must be received by the Minister of Industry by the end of this week. The group, which produces special steel especially for the automotive sector, has received its fourth acceptance since 2014.
The company was taken over in 2024 by British investment fund Greybull Capital, which promised to inject 90 million euros while the State would pay 85 million. If the state generally sticks to its financial commitments, Greybull will contribute just 1.5 million euros, according to the union. “We will see how they intend to shoulder some of their responsibilities”announced last week by the Minister Delegate in charge of Industry, Sébastien Martin.
The unions are calling on public authorities to save the electric steelworks, which they say if eliminated, would be a disaster. “ecological and strategic nonsense” in sectors where it is difficult to reduce greenhouse gas emissions. “The state is responsible, the state must guarantee the maintenance of all work”stated a sign put up by employees on Wednesday in front of a Strasbourg court.
Europe’s steel industry is stepping up layoff plans, suffering from Chinese competition, high energy costs and difficulties facing automakers and large consumers of steel, among other things.
