05 November, 2011

Industry : massive losses of jobs in Angers metallurgical industry on 10 years

Crédit : Angers Loire Développement
After previous takeovers of Anjou companies like Cesar or France Champignons, the French investment fund Butler Capital Partners had recently bought the Anovo group including its factory of Angers. Anovo is dedicated, among other things, to the repairing, extension of guarantee, or regeneration of electronical products, like mobile phones, computers, internet boxes, for distributors (CDiscount), operators (Orange or Bouygues) and manufacturers (Alcatel). The problem is the repairing of these products in Europe became more expensive than the purchase of new one produced in low cost countries.

In order to put the company back on its feet, Butler Capital Partner has taken tough measures that consist in lay-off : in Angers, 72 employers of 107 will loose their job. The Butler company paid 22 millions € and aims for a return to financial balance within 18 months. 

 That new loss of jobs reflects the trend in the Angevine metallurgical industry since the last 10 years. From more than 27 000 jobs, the companies of that field don't employ today more than 21 500 persons. One of five jobs has been lost since a decade. The world economic circumstances, but also national measures and among them the work time reduction, endangered the competitiveness of Anjou industry. And 2012 should not be good.

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