Overview
- Lone Star’s €10.1 million bid, approved by the Lyon commercial court on Monday, keeps 72 of 547 positions at Polytechnyl.
- The offer takes patents, the Technyl nylon brand, and research and sales teams, while excluding factories and land, with a pledge of no layoffs among the 72 for one year.
- Operations will stop on April 30 because the company lacks the cash to continue, according to the court’s decision.
- Union leaders denounced the terms as insulting and highlighted a €700 payment offered to each dismissed worker.
- Local officials warn of losses for about 100 subcontractor jobs and hits to nearby shops and site utilities, reflecting wider strains from high energy costs and weak demand.