Vous consultezLe drame de Creusot-Loire : échec industriel ou fiasco politico-financier ?

After many studies concerning the Schneider firm from 1837 to 1960, we observe, from 1970, the evolution of the first French group of heavy mechanics, Creusot-Loire, to the bankruptcy in 1984. With a millstone round the neck of the old steel industry, it was also, with Framatome, directed towards nuclear high technologies.
From 1976 to 1979, Creusot-Loire severely suffered from a first crisis, the steel industry crisis. It was the only company that did not obtain the help of the 1978 steel plan. The firm, however, made modest profits in 1981, thanks to recovery efforts.
But it was a short-lived bright interval: in 1982 and 1983, Creusot-Loire was a victim of a sudden financial collapse, opposed to its international competitiveness. Cumulated losses of more than two billion francs during two years look like a suicide or a murder. The rescue could only come from the government. On June 28th, 1984, the government refused to bring help, which lead to bankruptcy, then to liquidation which looked like a disaster. A subsequent study of that liquidation may have a few surprises in store.