Overview
- A new hearing at the Lorient commercial court is under way and Renault is reported to be ready to unlock €4.5 million to supply immediate working capital for Fonderie de Bretagne.
- The planned funds are intended to pay salaries and finance the redressement judiciaire observation period so operations can continue while a buyer is sought.
- Europlasma’s failure to inject the promised capital is cited by authorities as the main cause of the company’s cessation of payments and its placement in judicial reorganisation.
- No new buyer has been publicly identified and the court has given the firm extra time to attract a serious industrial purchaser, with judges signaling they will only accept an operator, not a financial investor.
- The plant in Caudan employs about 247 people and had planned to shift from automotive castings to munitions work, so the temporary financing aims to preserve jobs and allow officials to seek French and European industry partners.