In July 2016 Ascometal entered into exclusive discussions with Vallourec regarding the Saint-Saulve steel mill for a takeover of 60% share of that unit, Vallourec keeping a 40% share. This project might be finalized by the end of 2016. The Saint- Saulve steel mill, a very recent unit capable of producing continuous casting rounds of the highest metallurgical quality, will become one of the sources of supply for the rolling mills (bars and wire rod) of Asco Industries.
This project includes CAPEX investment in Saint-Saulve (casting formats) as well as in Dunkirk / Les Dunes (precision rolling stand for large and medium bars) and Fos-sur-Mer (ingots formats, ovens, rolling stand of the wire rod mill). The creation of the Joint Venture and its positive consequences for each partner allows sustaining the existence of a French special steel industry, which technical and commercial reputations have been recognized for years.
Regardless of this project, new investments have been launched in 2016: highly sensitive Ultra Sound testing device on large size bar in Dunkirk, precision saw for small cut-to-size bars in Saint- Etienne, induction heat treatment furnace in Hagondange. The quality of the equipment in Saint-Saulve and the very good rail logistics between this steel shop and the finishing units, will allow a high standard level of service.
