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Steel industry: six buyers for Hayange

According to our information, Bristish Steel, owned by the Chinese Jingye, Liberty Steel, owned by the Anglo-Indian billionaire Sanjeev Gupta, ArcelorMittal or the Greybull fund (owner of Ascoval) are interested.

The Hayange factory.
The Hayange factory. PATRICK HERTZOG/AFP

This Monday, the CSE of the Hayange factory will examine the takeover offers for this Moselle site which manufactures rails. According to our information, six buyers, all linked to the steel industry, are interested: Bristish Steel, owned by the Chinese Jingye, Liberty Steel, owned by the Anglo-Indian billionaire Sanjeev Gupta, ArcelorMittal, the Greybull fund (owner of Ascoval) , German Saarstahl and Indian Jindal (present in 22 countries, in the Middle East, Africa and Australia).

The affair will not be played in Lorraine. Bercy wishes, on the occasion of this restructuring which will involve the collective procedure of the Hayange holding company, to marry the railroad factory with the Ascoval steelworks. Experts believe that the northern steel plant alone is not viable. The agreement signed in November 2019 with Hayange and SNCF Réseau for the supply of blooms intended for the manufacture of rails is not sufficient to ensure volumes that absorb infrastructure. Besides, Jindal only wants to buy Hayange, considering that Ascoval cannot be profitable. The unions on this site, for their part, worried last week about ArcelorMittal’s offer. According to the CGT, the giant does not need Ascoval to supply Hayange: it would have sufficient capacity with a factory in Luxembourg and that of Duisburg in Germany. And could get rid of Ascoval in the short term.

Bristish Steel has for him to have a complete industrial project, increasing the volumes of the northern steelworks, in particular thanks to a rail recycling activity

Bristish Steel has for him to have a complete industrial project, increasing the volumes of the northern steelworks, in particular through a rail recycling activity. But he will have to convince the authorities that having Jingye as a shareholder is not a problem. And this while Bercy opposed this spring to the passage of Hayange under the Chinese flag during the takeover of Bristish Steel by Jingye. Will it be different now that the municipal elections are over? Liberty Steel also has an industrial project, but partly funded by public subsidies. In any case, the goal is to have the file resolved by the end of the summer. “We are in favor of the offers that will best ensure the industrial sustainability of the two sites, whether grouped or not”, they say to Bercy.

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