The French group Métal Blanc, a potential buyer of the bankrupt metallurgical company Novasco (formerly Ascometal), has not submitted an offer that includes the Hagondange electric steelworks in Moselle, leaving 450 jobs at risk, a union source learned on Monday.
The Ardennes group motivated its decision by economic conditions considered too unfavorable, uncertainties related to the cost of energy or difficulties in operation and human resources, according to a statement from the inter-union (CGT, CFDT, CFE-CGC) of Novasco Hagondange. The announcement comes on the eve of the deadline to propose takeover bids for the group and its four headquarters, which must be examined on October 31 by the commercial chamber of the Strasbourg judicial court.
“Destiny seems sealed today”
In addition to Hagondange, Novasco is present in Leffrinkoucke, near Dunkirk (north), Custines, near Nancy and in Saint-Étienne.
The unions ask the public authorities to save this electric steelworks, whose disappearance would be, according to them, an “ecological and strategic nonsense.” Novasco is in its fourth suspension of payments since 2014. During the acquisition in July 2024 by Greybull Capital, the State was expected to contribute 85 million euros, while the British fund was to inject 90 million euros. If the State fulfilled its financial commitments, Greybull would only contribute 1.5 million euros, according to the unions.
A victim of the downturn in the automobile market, Novasco was also unlucky after an accident that injured three workers in Hagondange last November when a bag of molten metal fell, leading to a seven-week shutdown.
Source: BFM TV
