Creusot-Loire

Creusot-Loire
Company type	Subsidiary
Industry	Rail transport
Founded	1970; 55 years ago
Headquarters	Paris, France
Area served	Worldwide
Products	Locomotives; 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

^ "FORM 20-F: Commission file number 001-35788 ArcelorMittal". United States Securities and Exchange Commission. 2015.
^ "Industeel, the right steel at the right price" (PDF). ArcelorMittal. March 2021. Retrieved 3 April 2021.
^ ^a ^b Claude 2001.
^ Société de Commentry - Fourchambault – industrie.lu.
^ 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.
^ ^a ^b Lewis, Paul (June 14, 1984), "Creusot-Loire Spurns French Aid Plan", The New York Times
^ "Bankruptcy: Creusot-Loire Goes Under". Time. 24 December 1984.
^ "Special Alloy Valves for Corrosive Petrochemical Applications". Compás Servicios Globales SLU. Alloy Valve Stockist. Retrieved 3 April 2021.
^ "Industeel". European Monitoring Centre on Change. 12 September 2003.
^ "INDUSTEEL". British Stainless Steel Association. Retrieved 3 April 2021.
^ "Steel Solutions for protection applications" (PDF). ArcelorMittal. September 2015.
^ "Industeel France". European Monitoring Centre on Change. 26 February 2018.
^ ^a ^b "Vente d'Industeel : la CGT en appelle à l'intervention de l'Etat". Le Journal de Saône et Loire. 11 January 2021.
^ "ArcelorMittal se donne six mois pour vendre Industeel". Le Journal de Saône et Loire. 20 November 2020.

Sources

Claude, Beaud (2001). "Le drame de Creusot-Loire : échec industriel ou fiasco politico-financier ?". Enterprises et Histoire (in French). 1 (27): 7. doi:10.3917/eh.027.0007.
"Société de Commentry - Fourchambault", industrie.lu (in French), retrieved 2017-08-02