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Creusot-Loire
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] HistoryThe group was formed in 1970 as a result of Compagnie des ateliers et forges de la Loire (owned by Marine-Firminy) and Société des Forges et Ateliers du Creusot (owned by Schneider) merger.[3] The Société des Forges et Ateliers du Creusot had absorbed the Société métallurgique d'Imphy in 1968.[4] 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.[5] The group was affected by the 1970s steel crisis,[3] and was not able to pay a dividend after 1977.[6] In 1984 the organisation became bankrupt with debts of $633 million;[7] the company's owner Empain-Schneider rejected state aid as the conditions included giving away control of another subsidiary Jeumont Industrie.[6] At some point near 2000, Imphy SA owned the Invar trademark.[8] 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.[9][10] 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.[11] By February 2018, the organization had been rebaptized Industeel France and was then owned by ArcelorMittal.[12] The French arm had been augmented by Industeel Belgium, which operated with 1200 employees in Charleroi.[13] In November 2020, ArcelorMittal had decided to sell the unit.[14][13] References
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