Creusot-Loire

Creusot-Loire
Company typeSubsidiary
IndustryRail transport
Founded1970; 55 years ago (1970)
HeadquartersParis, France
Area served
Worldwide
ProductsLocomotives
High-speed trains
Intercity and commuter trains
Trams
People movers
Signalling systems

Creusot-Loire was a French engineering conglomerate, formed from factories in Le Creusot and Châteauneuf, Loire.[1] The Creusot-Loire subsidiary of ArcelorMittal also includes an Innovation, Research and Development centre for the group.[2]

History

The group was formed in 1970 as a result of Compagnie des ateliers et forges de la Loire (owned by Marine-Firminy) and Société des Forges et Ateliers du Creusot [fr] (owned by Schneider) merger.[3] The Société des Forges et Ateliers du Creusot had absorbed the Société métallurgique d'Imphy in 1968.[4]

The enterprise developed what has become known as the Creusot-Loire Uddeholm (CLU) converter process, which was developed to minimize the need of argon, and which was first erected on an industrial scale in the 1970s at Degerfors.[5]

The group was affected by the 1970s steel crisis,[3] and was not able to pay a dividend after 1977.[6]

In 1984 the organisation became bankrupt with debts of $633 million;[7] the company's owner Empain-Schneider rejected state aid as the conditions included giving away control of another subsidiary Jeumont Industrie.[6]

At some point near 2000, Imphy SA owned the Invar trademark.[8]

At some point, the organization may have been part of Usinor, which became in the 2001/2 restructuring the company known as Arcelor.

Before September 2003, the organisation had been renamed Industeel and absorbed by Arcelor.[9][10]

In September 2015, Industeel was touting its homogeneous armour products and its ballistic protection steel plates. It boasted that 5mm of its MARS 600 product could stop a NATO 7.62mm round at a distance of 10m.[11]

By February 2018, the organization had been rebaptized Industeel France and was then owned by ArcelorMittal.[12]

The French arm had been augmented by Industeel Belgium, which operated with 1200 employees in Charleroi.[13]

In November 2020, ArcelorMittal had decided to sell the unit.[14][13]

References

  1. ^ "FORM 20-F: Commission file number 001-35788 ArcelorMittal". United States Securities and Exchange Commission. 2015.
  2. ^ "Industeel, the right steel at the right price" (PDF). ArcelorMittal. March 2021. Retrieved 3 April 2021.
  3. ^ a b Claude 2001.
  4. ^ Société de Commentry - Fourchambault – industrie.lu.
  5. ^ Jalkanen, Heikki; Holappa, Lauri (2014). Seetharaman, Seshadri (ed.). "Converter Steelmaking". Treatise on Process Metallurgy: Industrial Processes. Elsevier. doi:10.1016/C2010-0-67121-5. ISBN 978-0-08-096988-6.
  6. ^ a b Lewis, Paul (June 14, 1984), "Creusot-Loire Spurns French Aid Plan", The New York Times
  7. ^ "Bankruptcy: Creusot-Loire Goes Under". Time. 24 December 1984.
  8. ^ "Special Alloy Valves for Corrosive Petrochemical Applications". Compás Servicios Globales SLU. Alloy Valve Stockist. Retrieved 3 April 2021.
  9. ^ "Industeel". European Monitoring Centre on Change. 12 September 2003.
  10. ^ "INDUSTEEL". British Stainless Steel Association. Retrieved 3 April 2021.
  11. ^ "Steel Solutions for protection applications" (PDF). ArcelorMittal. September 2015.
  12. ^ "Industeel France". European Monitoring Centre on Change. 26 February 2018.
  13. ^ a b "Vente d'Industeel : la CGT en appelle à l'intervention de l'Etat". Le Journal de Saône et Loire. 11 January 2021.
  14. ^ "ArcelorMittal se donne six mois pour vendre Industeel". Le Journal de Saône et Loire. 20 November 2020.

Sources

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