France’s Ascoval launches formal search for new majority shareholder

French joint venture Ascoval is searching for a new majority shareholder to continue steelmaking operations beyond 2019, the company told Metal Bulletin on Wednesday March 21.

The company has a maximum finished steel capacity of 500,000 tonnes per year at its electric arc furnace (EAF) plant in Saint Saulve, northern France, and makes products such as steel bar and seamless tube.

Despite uncertainty over its ownership, Ascoval aims to raise its finished steel output to 245,000 tonnes in 2018, compared with output of 190,000...

Published

March 21, 2018

14:42 GMT

London