Tunnel boring machine
30 November 2018

France welcomes the takeover of NFM Technologies by Mühlhäuser

Bruno Le Maire, Minister of Economy and Finance, commends the decision of the Commercial Court of Lyon to entrust the takeover of the French tunnel boring machine manufacturer NFM Technologies to the German company Mühlhäuser.
 
NFM Technologies had been grappling with serious financial difficulties since the end of 2016 due to the failures of its shareholder, the Chinese group NHI, and had to be placed into receivership on 2 August this year. From the time it first ran into difficulties until the decision of the Court, the company was closely monitored by the Commissioners for Corporate Restructuring and the Prevention of Business Difficulties and by the Interministerial Delegate for Corporate Restructuring.

The takeover of NFM Technologies by Mühlhäuser will safeguard 80 industrial jobs and the specialised know-how of the company, in Creusot and also in the Lyon metropolitan area. It is also a unique opportunity to create a Franco-German player offering a full range of equipment in the field of underground works.
 
"The responsible attitude of the company’s employees throughout the process has been a decisive factor in the success of the takeover and in safeguarding industrial know-how. I would also like to emphasise the opportunity offered by the creation of a new Franco-German player in the field of underground works. For a significant number of large-scale infrastructure works, which rely extensively on this equipment, are carried out in Europe, and especially in France".
Bruno Le Maire


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