Restructuring events
European Restructuring Monitor (ERM)
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.
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.
Eurofound (2024), Valdunes Industries, Merger/Acquisition in France, factsheet number 202095, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/202095.