The last manufacturer of aluminum rims in France, Impériales Wheels, located in Diors (Indre), was placed in receivership by the commercial court of Villefranche-sur-Saône (Rhône), we learned from the court on Friday and union sources. The company (formerly Alvance Wheels), in difficulty for several years, was taken over on February 1, 2022 by the company EDS, 100% owned by Émile di Serio, president of the Saint-Jean Industries foundry group, with the aim of to develop new wheel models using new technology.
EDS has since invested in a new site in Indre to install new production lines. “We found a new site for the new machines. But there is a lack of money to complete this new site, at least for this first line. It will allow customers to (…) place orders with us,” reacted Christian Grelaud, employee representative, confirming information from the New Republic.
“The judicial recovery is the best that could happen, because it leaves the door open to buyers who would bring new money to finish this first line and open the three others planned,” estimated the unionist of the CFE-CGC. “We have new machines, maybe that’s what will save us. It may interest a buyer, but the problem is that around 7 million are missing to complete the first production line,” added CGT union delegate Anthony Babarczi.
In 2022, the takeover by EDS was welcomed by the Minister of the Economy Bruno Le Maire and the Minister for Industry Agnès Pannier-Runacher, who announced state aid amounting to 41 million euros. (including 11 million in direct subsidies), as well as aid of 5 million from the Centre-Val de Loire region. In total, more than 80% of the funding promised by the State has already been paid, according to the Indre prefecture. “The unpaid amounts correspond to subsidies targeting machines that have not yet been purchased,” she said in a press release.
The prefecture regretted the “significant drift” in EDS’s costs and business plan, adding that the “main objective” of the State remains “to do everything possible to bring about recovery solutions”. A new hearing is scheduled for April 18 at the Villefranche-sur-Saône commercial court.
