Creusot-Loire
| Company type | Subsidiary |
|---|---|
| Industry | Engineering, Steel |
| Predecessor | Compagnie des ateliers et forges de la Loire, Société des Forges et Ateliers du Creusot |
| Founded | 1970 |
| Headquarters | Le Creusot, Châteauneuf , France |
| Parent | ArcelorMittal |
Creusot-Loire was a prominent French engineering group, originating from industrial sites located in Le Creusot and Châteauneuf, Loire. As a subsidiary of ArcelorMittal, Creusot-Loire also housed the group's Innovation, Research, and Development center.
History
The conglomerate emerged in 1970 through the union of Compagnie des ateliers et forges de la Loire (under Marine-Firminy ownership) and (controlled by Schneider). Prior to this, in 1968, the Société des Forges et Ateliers du Creusot had incorporated the Société métallurgique d'Imphy.
Creusot-Loire pioneered the Creusot-Loire Uddeholm (CLU) converter technique aimed at reducing argon consumption, which saw its first industrial application during the 1970s at Degerfors.
The group faced significant challenges during the 1970s steel crisis, leading to a halt in dividend payments after 1977. In 1984, the company declared insolvency with liabilities amounting to $633 million; its proprietor Empain-Schneider refused government assistance because it entailed relinquishing control over another subsidiary, Jeumont Industrie.
By approximately 2000, Imphy SA held ownership of the Invar brand. This entity was possibly integrated within Usinor, which underwent reorganization into Arcelor around 2001/2.
Prior to September 2003, the firm was rebranded as Industeel and merged into Arcelor. In September 2015, Industeel showcased its homogeneous armor steel products, emphasizing that a mere 5mm thickness of its MARS 600 steel could effectively halt a NATO 7.62mm projectile at a distance of 10 meters.
As of February 2018, operating under the name Industeel France, it remained a division of ArcelorMittal. The French branch was supported by Industeel Belgium, which employed approximately 1,200 personnel in Charleroi. In November 2020, ArcelorMittal revealed intentions to divest Industeel.