The 281 employees of the small steel mill in Saint-Saulve in the North, hoped to be finally fixed on their fate next Wednesday? They’re probably going to have to wait before knowing the outcome of a soap opera that puts their nerve to the test for over six months. If two candidates for recovery have in fact filed their bid on Wednesday night as expected, it is very likely that the Strasbourg court will not give its verdict on April 24.
He should give a few days of deliberation, and even agree up to two weeks to buyers in the running for that they complete their file. The days are numbered: at the end of may, the plant will be short of cash.
behind the scenes, the negotiations are well underway with the State to decide between the two candidates, the steel company british Steel and the Italian specialist of special steels Calvi Network. These two groups were not manifested in the autumn, when Vallourec, a shareholder of Ascoval, plans to close this plant, but devoid of customers… His vocation had always been to only provide Vallourec.
At the time, only Altifort, a young company founded by two entrepreneurs, believed in his future. After having obtained the green light from the court, and 47 million euros of public funds in the form of a loan (25 million from the State, 12 of the Region Hauts-de-France, and 10 of Valenciennes Métropole), Altifort had to throw in the towel, for lack of meet in addition to the private capital on which he intended.
Since then, the mobilization of employees has paid off. New customers were found, the first contracts won. The difficulties to reach an agreement on the Brexit have motivated British Steel to push its pawns in France, is an observer. Calvi, to him, was abandoned by one of its suppliers. But the financial involvement of public authorities has changed the situation, because another buyer could benefit. For the same amount? It all depends on the needs of, and capital invested by the buyer. The european rule is strict: a euro of public money for a maximum of a euro private.
