Type
Bankruptcy
Country
France
Region
Location of affected unit(s)
Allevard (Isère), other units
Sector
Manufacturing
Manufacture Of Basic Metal And Fabricated Metal Products
Manufacture Of Basic Metals
24.52 - Casting of steel

307 jobs
Number of planned job losses
Job loss
Announcement Date
17 July 2012
Employment effect (start)
31 July 2012
Foreseen end date
31 December 2012

Description

On 24 July, the steel manufacturer Ascométal has announced a reorganisation plan including 307 job cuts. The plan will affect all its French units: the steel factory of Fos-sur-Mer (Bouches-du-Rhône), Allevard-le-Cheylas (Isère), Les Dunes (Nord) and Hagondange (Moselle) and two other plants in Le Marais (Loire) and Custines (Meurthe-et-Moselle).

The company is currently owned by the investment fund Apollo.


Sources

Citation

Eurofound (2012), Ascométal, Bankruptcy in France, factsheet number 73923, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73923.