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.