| Creusot-Loire | |
| Type: | Subsidiary |
| Industry: | Rail transport |
| Location: | 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 (owned by Schneider) merger.The Société des Forges et Ateliers du Creusot had absorbed the Société métallurgique d'Imphy in 1968.
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.[3]
The group was affected by the 1970s steel crisis, and was not able to pay a dividend after 1977.
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.
At some point near 2000, Imphy SA owned the Invar trademark.[5]
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.[6] [7]
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.[8]
By February 2018, the organization had been rebaptized Industeel France and was then owned by ArcelorMittal.[9]
The French arm had been augmented by Industeel Belgium, which operated with 1200 employees in Charleroi.
In November 2020, ArcelorMittal had decided to sell the unit.[10] [11]