GHH-Valdunes Group

France: A New Start for Valdunes with the Chinese Industrial Group MA Steel

Following the hearing held on May 27, the Commercial Court of Valenciennes has selected the bid placed by the Chinese industrial group MA Steel for the takeover of Valdunes activities.

MA Steel’s offer includes the takeover of the company’s assets and of the two production sites of Trith-Saint-Léger (Valenciennes) and Leffrinckoucke (Dunkerque). The offer also provides for the retention of the 487 employees. This takeover will enable the implementation of the investment required to modernize the industrial assets of the company and to ensure the sustainability of both its activities and sites.

A new company, named MG-Valdunes, has been created. With the support of its shareholder MA Steel’s, it will be able to develop its market shares, conquer international markets, and reduce its costs while improving its productivity.

“This solution is an excellent opportunity”, said Jérôme Duchange, CEO of Valdunes. “Not only will it enable to maintain Valdunes’ activity and employments, it will also create conditions for its recovery and future developments.”

MA Steel has also expressed its intention to create a worldwide rail products’ research and development center within MG Valdunes.