On October 3, 2011, the SOTRALENTZ and AREVA Groups signed the transfer agreement for Sfar and Civad, located in Montchanin, Saône-et-Loire, France. By acquiring the two companies, which specialise in precision machining and mechanical welding, the Alsace group’s subsidiary SOTRALENTZ Métal Industries will increase its production capacity and expand its precision machining offering. Under the terms of the buyout agreement, no jobs will be lost in either of the two Burgundy-based firms.
With some 80% of its manufacturing destined for exports, the SOTRALENTZ Métal Industries subsidiary is present on rapidly-expanding markets including the manufacture of TBMs, excavators for the mining industry, equipment for the oil & gas and nuclear industries, cement grinding units, bridge components, and so on. “SOTRALENTZ Métal Industries has seen constantly growing business in recent years, with considerable expansion of certain markets,” explained Jacques Ducaruge, Managing Director of the SOTRALENTZ Group. “The acquisition of Sfar and Civad is an excellent way of pooling knowhow to meet market demand. It will give us an even broader product range and expand the business of SOTRALENTZ Métal Industries, as well as that of Sfar and Civad.”
Not only will there be no job losses at Sfar or Civad, thirty new positions will be created when the new business starts in October. There will be a need for machinists, welders and inspectors. Hiring will continue through 2012 and 2013. By 2014 the Henri-Paul and Rue de la Paix sites in Montchanin are expected to have a total workforce of over 150.
Press release : October 3rd, 2011| < Prev | Next > |
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