Overview

• The Lyon Commercial Court approved Wanhua’s €1.2 million bid to partially acquire the Vencorex chemical plant near Grenoble through its subsidiary BorsodChem.
• Wanhua has committed to investing €19 million in the site by 2027 but will retain only 54 of the plant’s 450 employees.
• A competing employee-led cooperative proposal, which aimed to save more jobs, was rejected due to insufficient secured financing.
• Local officials and union leaders warn of cascading impacts on interconnected industries, including nuclear and aerospace, as well as broader regional economic decline.
• The decision has drawn widespread criticism, with political figures decrying the loss of industrial sovereignty and the government’s refusal to consider temporary nationalization.