NARRATIVE – The French equipment manufacturer was placed under the protection of the commercial court, for the second time since 2014. European leader in the specialty in 1998, it has declined for twenty-five years, due to lack of investment.
New crucial step to save Valdunes. The Lille commercial court decided this Monday to place the very last French manufacturer of train wheels, axles and axles into receivership. This, a little less than six months after the decision of its owner, the Chinese MA Steel (14 billion dollars in turnover, 40,000 employees) to sell its activity based in Hauts-de-France, ten years later having taken control of it.
The receivership (RJ) allows the activity to continue, with Valdunes’ treasury ensuring its operation until the end of March 2024. This, thanks to orders placed in advance by RATP, SNCF and Alstom. The court will appoint a judicial administrator and open a call for tenders, in order to select the one which “ is the most credible in terms of investments, revival of activity and preservation of jobs », specifies Roland Lescure, Minister Delegate for Industry in charge of the file…
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