ArcelorMittal has received a binding offer for its two French wire processing facilities in Sainte-Colombe-sur-Seine and Commercy in eastern France from the German investment firm Mutares, Kallanish learns from a statement.
The two plants, part of ArcelorMittal Wire Solutions, were put up for sale last year. The first sale agreement was made with French industrial group Altifort. This was then cancelled in January this year, as Altifort failed to find sufficient funds to conclude this acquisition as well as the purchase of Ascoval steelmaking plant in France.
Now Mutares has confirmed its offer and has begun discussions with the workers at the site to present its new industrial plan.
The two French plants are focused on the fabrication of wire and steel wire ropes. Their product portfolio ranges from thin spring wire for the automotive market to heavy specialty cables for bridges and wire for the pre-stressed concrete market.
Mutares is a holding company specialised in the acquisition of companies to be relaunched. In 2017 it acquired the stainless steel welded tube specialist Aperam Stainless Services & Solutions Tubes Europe, from the Aperam group.