Greybull acquires French steel giant Ascometal

This strategic step is further strengthened by the French government's commitment to provide a loan of EUR 45 million this year and EUR 40 million next year to support the relaunch of the new company. Greybull will make a significant contribution to this process by investing an additional EUR 90 million.

Initially, leading steel companies such as Acciaierie Venete, Sidenor and Europlasma wanted to acquire the les Dunes sites in Hagondange, Custines, Saint-Etienne and Leffrinckoucke, for which Greybull had made offers. However, these companies later withdrew their bids. Greybull's offer is based on the objectives of making extensive investments in these plants and diversifying production.

Greybull's plans include the construction of a new ingot line at Hagondange and the refurbishment of the rolling mill at Les Dunes. These investments aim to diversify production and expand sales by encouraging co-operation between plants. They are also expected to reduce dependence on the automotive sector. It is stated that Greybull will finance these investments through debt.

Sources report that Greybull's new investments could transform the French steel industry, especially by strengthening co-operation between the Hagondange and Les Dunes plants and diversifying production. These strategic moves have the potential to strengthen Greybull's position in the sector, while at the same time increasing France's steel production capacity.