Type
Merger/Acquisition
Country
France
Region
Nord - Pas-De-Calais; Nord;
Location of affected unit(s)
Trith-Saint-Léger, Leffrinckoucke
Sector
Manufacturing
Manufacture For Transport Equipment
Manufacture Of Motor Vehicles, Trailers And Semi-Trailers
29.32 - Manufacture Of Other Parts And Accessories For Motor Vehicles

125 jobs
Number of planned job losses
Job loss
Announcement Date
20 March 2024
Employment effect (start)
2 April 2024
Foreseen end date
31 December 2024

Description

The Valdunes site, a French manufacturer of wheels, has been acquired by Europlasma, a French group specializing in clean energy and technology. As part of the acquisition, 125 jobs will be made redundant, 108 in Leffrinckoucke and 17 in Trith-Saint-Léger. Europlasma’s plan saves 184 out of 309 jobs, including 118 in Trith-Saint-Léger and 66 in the Leffrinckoucke forge. The company also plans to offer training and reclassification opportunities to affected employees.

The acquisition, supported by unions and the French government, follows the withdrawal of a previous offer by the Chinese group MA Steel in May 2023, which prompted government intervention. The French government will invest up to €15 million in the form of loans to support Europlasma. Additionally, local governments will contribute €5 million to support Europlasma's €15 million investment over the next three years. The group intends to transform Valdunes’ business model to focus on producing green wheels using green steel and energy. While trade unions remain cautious and express distrust toward Europlasma, they hope the group will deliver on its commitments.


Sources

Citation

Eurofound (2024), Valdunes Industries, Merger/Acquisition in France, factsheet number 202095, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/202095.