The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24.2 - Manufacture Of Tubes, Pipes, Hollow Profiles And Related Fittings, Of Steel
131 jobs Number of planned job losses
Announcement Date
11 December 2024
Employment effect (start)
31 January 2025
Foreseen end date
Description
The Valti factory, a steel tube manufacturer serving various industries, is closing, leaving its 131 employees in Montbard (Côte-d'Or) redundant after no takeover offers were submitted. The factory, established in 1965, was renowned globally for its steel tubes. However, market changes and increased competition from Asia and Latin America have led to a significant decline in demand. Similar restructurings have already occurred in the region in 2024.
Valti, previously owned by Vallourec, was acquired by the German group Mutares before being abandoned in 2023. The company is expected to enter cessation de paiement shortly, followed by judicial liquidation in the coming weeks. Employees plan to organize a strike and hold demonstrations. Production will continue until the end of January to fulfil all client orders. Several indirect jobs have already been affected, including two cleaning staff who were recently dismissed.
Eurofound (2024), Valti, Closure in France, factsheet number 202093, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/202093.
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