GFGAlliance Hires Rothschild for Sale of Ascoval&Hayange in France
Ascoval HayangeTeller Report

GFGAlliance Hires Rothschild for Sale of Ascoval&Hayange in France

According to a report in Britain’s Financial Times, GFG Alliance has reportedly hired France based Rothschild bank to help sell two steel plants in France. The

According to a report in Britain’s Financial Times, GFG Alliance has reportedly hired France based Rothschild bank to help sell two steel plants in France. The Financial Times says the two mills being marketed by GFG and the investment bank are the Ascoval and Hayange facilities it acquired in August 2020. The plants were purchased from France Rail Industry, with the Ascoval facility being an electric arc furnace steel mill that supplies semi-finished steel to the Hayange facility, where it is converted into rail.

According to an earlier press release of GFG Alliance “The Ascoval facility in Saint-Saulve in France uses EAF technology and has the capability to produce 600,000 tonnes of steel blooms, billets and other forged products annually from recycled scrap metal. Hayange, located in Moselle in France, manufactures a wide range of steel rails for nationally significant infrastructure clients including France’s national rail operator SNCF and RATP, the operator of Paris metro system and produces over 300,000 tonnes of rail per year.”

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