Creusot-Loire

Creusot-Loire was a French engineering conglomerate.

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 (owned by Schneider) merger.[1] The Société des Forges et Ateliers du Creusot had absorbed the Société métallurgique d'Imphy in 1968.[2] The group was affected by the 1970s steel crisis,[1] and was not able to pay a dividend after 1977.[3]

In 1984 the organisation became bankrupt with debts of $633 million;[4] the company's owner Empain-Schneider rejected state aid as the conditions included giving away control of another subsidiary Jeumont Industrie.[3]

References

  1. 1 2 Claude 2001.
  2. ↑ Société de Commentry - Fourchambault – industrie.lu.
  3. 1 2 Lewis, Paul (June 14, 1984), CREUSOT-LOIRE SPURNS FRENCH AID PLAN
  4. ↑ Bankruptcy: Creusot-Loire Goes Under, TIME, 24 December 1984

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


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