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The steel group Ascométal placed in receivership

November 30 category:Economy
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The steel group Ascométal placed in receivership



A steelmaker in 2006 by Ascométal in Fos-sur-Mer. The group employs 1,900 people.

afp.com/Boris Horvat



The steel group Ascométal, which employs 1,900 employees, was placed in receivership Friday by the Commercial Court of Nanterre (Paris region), with an observation period of six months, according to a judicial source.

There are "several expressions of interest" for a resumption of Ascométal said shortly after Arnaud Montebourg, Minister of Relief productive. A group with "a real industrial ambition", which leads the minister to condemn the "financial disagreement".

The fate of the French steel jewel was suspended for several weeks of tough negotiations between its shareholder, the US fund Apollo and the banks Morgan Stanley and Bank of America, which were unsuccessful.

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