Creusot-Loire
Creusot-Loire was a French engineering conglomerate.
History
The group was formed in 1970[1] as a result of Compagnie des ateliers et forges de la Loire (owned by Marine-Firminy) and Société des Forges et Ateliers du Creusot (owned by Schneider) merge.
The group was affected by the 1970s steel crisis,[1] and was not able to give a dividend after 1977.[2]
In 1984 the organisation became bankrupt with debts of $633 million;[3] the company's owner Empain-Schneider rejected state aid as the conditions included giving away control of another subsidiary Jeumont Industrie.[2]
References
- 1 2 Claude 2001.
- 1 2 Lewis, Paul (June 14, 1984), CREUSOT-LOIRE SPURNS FRENCH AID PLAN
- ↑ Bankruptcy: Creusot-Loire Goes Under, TIME, 24 December 1984
Sources
- Claude, Beaud (2001). "Le drame de Creusot-Loire : échec industriel ou fiasco politico-financier ?". Enterprises et Histoire (in French). 1 (27): 7–. doi:10.3917/eh.027.0007.
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