Particle.news
Download on the App Store

Strasbourg Court Poised to Back Minimal Novasco Rescue as Government Sues Greybull

Citing an unmet €90 million pledge by Greybull, the government is taking the fund to court.

Overview

  • Judges are due to rule this morning, with reporting indicating approval of a bid limited to Novasco’s Leffrinckoucke plant that would keep 144 jobs.
  • The favored offer comes from a consortium led by Julien Baillon of Métal Blanc and would leave the Hagondange, Custines and Saint-Étienne sites headed for liquidation.
  • Rival bidder Europlasma proposed taking all sites but its file showed weaknesses and would have kept only about 75 of roughly 450 jobs at Hagondange.
  • Workers have escalated protests near Hagondange, including tyre fires and a go-slow on the A31, as unions shift demands toward stronger severance and support.
  • Officials say Greybull injected only €1.5 million of the €90 million it promised in 2024, while the state largely met its €85 million commitment, and ministers pledge to safeguard industrial land.