On Saturday in the Ascoval steelworks, Agnès Pannier-Runacher called on Arc leaders and shareholders to “Take their responsibilities“.
After having flown to the aid of Arc International three times in five years, would the State begin to find the northern glassmaker’s soup a little sour? While the group relaunched 250 hires in January and posted green signals this summer, it is once again in search of new money – around 20 million, according to The voice of the North. A relatively urgent contribution if the company with more than 4,500 employees wants to avoid running out of cash from the start of 2022. In question: the additional costs linked to the surge in raw materials that the group must, like its peers, bear. But also specific operational difficulties: delays in rebuilding its ovens, and hitches linked to the deployment of new software and the outsourcing of its packaging. This prevents it from properly honoring a full order book.
Recent, the alert has a little “Stunned” the Minister for Industry, Agnès Pannier-Runacher. On a trip to the Ascoval steelworks on Saturday, it called on Arc leaders and shareholders to “Take their responsibilities», After the support of more than 100 million provided by the public authorities in 2020 to allow the company, bought in 2015 by the American fund PHP, to face the Covid. “If the State will continue to be at the rendezvous of a group whose sustainability is no longer questioned, it is logical that, in a situation where its debt to the community exceeds 100 million euros , he is accountable, we slip in Bercy, where the file is followed by the Ciri (cell dedicated to restructuring). “Above all, it will be necessary to find the right balance between public support and that of Arc funds and shareholders”, we add to Bercy. Scheduled for this early this week, the meeting to once again solidify Arc’s accounts promises to be tense.