Italian steelmakers have entered negotiations to acquire the Hagondange plant in the Moselle region, Custines in Meurthe-et-Moselle, Le Marais in the Loire region and Ascometal's research centre Creas. The move is in line with Acciaierie Venete's aim to increase its presence in Europe.
"The French project will allow Acciaierie Venete to strengthen its position and increase its production capacity outside Italy. This move will provide the plants with a stable future, backed by a shareholder with a solid balance sheet and strong industrial experience. The group has an ambitious investment plan for the acquired plants, which will allow for various synergies, especially in the acquisition area."
The company will present its growth plan to trade unions and other stakeholders in the coming months. The acquisition is expected to be finalised in spring 2024.
"Swiss Steel Group is pleased that Ascometal France Holding has found a reliable and experienced partner in Acciaierie Venete with industrial synergies and an ambitious plan to strengthen the Asco-metal sites in Hagondange, Custines and Le Marais," Swiss Steel said.
The two remaining Ascometal sites, Les Dunes in Dunkirk and Fos-sur-Mer, will not be involved in the merger.
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