Ascoval, a joint venture between the recently sold Ascometal and French tube and pipe producer Vallourec, will continue production while the company finds a buyer, a spokesman for Swiss special and stainless steel producer Schmolz + Bickenbach (S+B) told Metal Bulletin late on Monday February 5.
The future of Ascoval, located in Saint-Saulve, Northern France, was put in doubt when majority shareowner Ascometal was taken over by Swiss special and stainless steel producer Schmolz + Bickenbach (S+B) on Thursday February 1, following a decision made by a French court on January 29.S+B's successful offer for Ascometal did not, however, include taking over its 60% share in Ascoval. This led Vallourec to...