Four takeover bids for Hayange, the British Steel French site

Four candidates have come forward for a possible takeover of the railroad production plant at Hayange in the Moselle, left out of the takeover of its parent company British Steel by the Chinese Jingye, the French Minister for Foreign Affairs said on Wednesday. Economy. Jingye announced Tuesday that he intends to complete the takeover of the British steelmaker British Steel, placed under judicial administration last May, despite lingering uncertainty about its French subsidiary. The site, which employs more than 400 people, is the main supplier of SNCF and its takeover requires the green light from the French government as part of the control of foreign investments in France.

Jingye, who covets the French site with a full order book, said Tuesday that he had not received a response date from Paris. “My position is very simple: Hayange makes the rails of the SNCF, so it is an activity which is strategic“Said Bruno Le Maire on BFM Business on Wednesday. “So today I want to find a buyer since British Steel will be taken over without Hayange.The Minister added that there were four other offers taken from the production site, including “three seriousWithout giving the names of the candidate companies. According to a union source, the world number one in steel ArcelorMittal, the German Saarstahl as well as the company Olympus Steel, which is the parent company of British Steel, are in the ranks. Liberty House is also cited, but according to another source familiar with the matter, the British are not interested. Discussions are underway with Bercy and the legal administrator responsible for monitoring the procedure.

According to the union source, the future of the Ascoval steelworks in Saint-Saulve (North), which supplies Hayange, will be a key factor in the recovery equation. If it recently concluded a contract to supply 140,000 tonnes of steel bars per year to Hayange for the SNCF, its production remains lower than what it is capable of manufacturing, says the source, according to which the government Probably will favor offers making it possible to guarantee the future of the two sites. “At the level of France, it is a file studied closely because there are strategies behind and one cannot be satisfied with a buyer without having guarantees of an industrial projectSaid another source familiar with the discussions. The stake is also political because Hayange, which has more than 15,000 inhabitants, is one of the eleven cities of France headed by a mayor from the National Rally, Fabien Engelmann, vying for a new mandate in the municipal elections of 15 and 22 March. Ascoval, which employs nearly 270 people, was taken over last year by Olympus Steel, owned by Jersey-based private equity firm Greybull Capital.


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