The CGT union has stated that none of the takeover offers for the French glass manufacturer Duralex fully meet the expectations of its employees. The union criticized the three proposals submitted for the company’s future, noting that while two of them plan to continue industrial operations at the current site, neither offers to retain all current employees. Pascal Sudre, general secretary of the CGT union, expressed disappointment during an interview on ICI Orléans on September 17, as the commercial court in Orléans reviews the proposals. The court will not finalize its decision on Thursday, giving the union time to push for improvements in the takeover plans.
Duralex, a well-known name in glassware since its founding in 1945, became famous for its unbreakable glass products. The company was taken over by its employees in a cooperative in 2024 after facing financial difficulties. It then entered judicial restructuring on June 1st, marking its fifth such restructuring in just over 20 years. The company currently employs 243 people, and the outcome of the takeover will have a significant impact on their future.
Three groups have submitted takeover proposals for Duralex. The first is Carlesimo, a Saint-Étienne-based company specializing in foundry and metal processing. The second is the Revive group, which is submitting the proposal through its Tomé holding. Revive’s CEO, Cédric Meston, is a co-founder of the startup HappyVore, and the group has previously acquired Tupperware France and the tire manufacturer Black Star. The third candidate is AA Investments, a Hong Kong-based company owned by French businessman Morteza Goshayeshi, who is also the new owner of Bouchara, a French home textile brand.
The CGT union is determined to ensure that the takeover proposals better align with the expectations of the employees. While the two proposals that aim to keep industrial activity on-site are seen as positive, the union is concerned about the lack of commitment to retaining all current workers. As the court continues its review, the outcome of the takeover will determine the future of Duralex and its workforce.
Duralex Takeover Offers Under Scrutiny Amid Employee Concerns
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