Creusot-Loire

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Creusot-Loire was a French engineering conglomerate.

History[edit]

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 (fr) (owned by Schneider) merger.[1] The Société des Forges et Ateliers du Creusot had absorbed the Société métallurgique d'Imphy in 1968.[2] The group was affected by the 1970s steel crisis,[1] and was not able to pay a dividend after 1977.[3]

In 1984 the organisation became bankrupt with debts of $633 million;[4] the company's owner Empain-Schneider rejected state aid as the conditions included giving away control of another subsidiary Jeumont Industrie.[3]

References[edit]

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