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French Chemical Plant Vencorex Sold to Chinese Rival Wanhua, Triggering Outrage

The Lyon tribunal finalized the partial sale for €1.2 million, retaining only 50 jobs out of 450 and raising fears over industrial sovereignty and strategic supply chains.

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La reprise partielle de l’usine chimique Vencorex, près de Grenoble, a été attribuée jeudi 10 avril 2025 au groupe chinois Wanhua.
« C'est la mise au chômage de centaines de familles et la perte de notre souveraineté », a dénoncé la députée locale Cyrielle Chatelain après la cession de Vencorex au chinois Wanhua.
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Overview

  • The tribunal of commerce in Lyon approved the partial acquisition of Vencorex by Chinese group Wanhua, via its Hungarian subsidiary BorsodChem, on April 10, 2025.
  • The deal includes a sale price of €1.2 million, with Wanhua committing to invest €19 million in the site by 2027, but only 50 out of 450 jobs will be preserved.
  • An employee-led cooperative bid, which aimed to save hundreds of jobs, was rejected due to insufficient financing and concerns over the site's short-term security.
  • Political leaders and local officials criticized the decision, citing it as a blow to France's industrial sovereignty and a risk to supply chains in critical sectors like nuclear and aerospace.
  • A proposal for temporary nationalization of Vencorex was previously rejected by the French government, further fueling criticism of inadequate intervention during the industrial crisis.