Swiss special and stainless steel producer Schmolz + Bickenbach (S+B) has been chosen by a French court to take over French speciality steelmaker Asco Industries (Ascometal), it said on Monday January 29.
S+B will take over Ascometal's assets on Thursday February 1, with the exception of Ascoval, a joint venture between Ascometal and French tube & pipe producer Vallourec in Saint-Saulve in northern France, S+B will take over three Ascometal steelmaking assets - at Dunkirk in Northern France, Fos-sur-Mer in Southern France, and Hagondange in North-Eastern France - and two service centers - at Custines in Northern France, and at Le Marais near St Etienne in Southern France.S+B's offer, which is worth a total of ?,?195 million ($242.33 million) including an ?,?82 million investment in Ascometal's production facilities over the next four years,...