Company type | Subsidiary |
---|---|
Industry | Rail transport |
Founded | 1970 |
Headquarters | Paris, France |
Area served | Worldwide |
Products |
Locomotives High-speed trains Intercity and commuter trains Trams People movers Signalling systems |
Creusot-Loire was a French engineering conglomerate, formed from factories in Le Creusot and Châteauneuf, Loire. [1] The Creusot-Loire subsidiary of ArcelorMittal also includes an Innovation, Research and Development centre for the group. [2]
The group was formed in 1970 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) merger. [3] The Société des Forges et Ateliers du Creusot had absorbed the Société métallurgique d'Imphy in 1968. [4]
The enterprise developed what has become known as the Creusot-Loire Uddeholm (CLU) converter process, which was developed to minimize the need of argon, and which was first erected on an industrial scale in the 1970s at Degerfors. [5]
The group was affected by the 1970s steel crisis, [3] and was not able to pay a dividend after 1977. [6]
In 1984 the organisation became bankrupt with debts of $633 million; [7] the company's owner Empain-Schneider rejected state aid as the conditions included giving away control of another subsidiary Jeumont Industrie. [6]
At some point near 2000, Imphy SA owned the Invar trademark. [8]
At some point, the organization may have been part of Usinor, which became in the 2001/2 restructuring the company known as Arcelor.
Before September 2003, the organisation had been renamed Industeel and absorbed by Arcelor. [9] [10]
In September 2015, Industeel was touting its homogeneous armour products and its ballistic protection steel plates. It boasted that 5mm of its MARS 600 product could stop a NATO 7.62mm round at a distance of 10m. [11]
By February 2018, the organization had been rebaptized Industeel France and was then owned by ArcelorMittal. [12]
The French arm had been augmented by Industeel Belgium, which operated with 1200 employees in Charleroi. [13]
In November 2020, ArcelorMittal had decided to sell the unit. [14] [13]