Plans for a major shake-up at Aluminium Dunkerque are beginning to surface, with American Industrial Partners (AIP) considering whether to sell the French smelter or place it on the stock market, according to information shared by a union official.
Johan Vlietinck of the CGT union stated that local management had briefed workers’ delegates about the investment fund’s intentions. His remarks align with reporting from Bloomberg, which earlier suggested that AIP was weighing both a sale and a listing. The firm acquired the site four years ago after GFG Alliance, controlled by commodities entrepreneur Sanjeev Gupta, defaulted on its debt.
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AIP’s spokesperson in France stopped short of confirming any details about the process, saying the fund was not disputing the press coverage but would not provide further comment. Aluminium Dunkerque itself did not respond to requests for a statement.
Rising concerns around energy security
Unions had long suspected that the plant might eventually change hands. Vlietinck noted that concerns grew earlier this year when the company secured a 10-year electricity contract with EDF in May, offering rare long-term clarity on energy costs for a business whose operations depend heavily on power.
The smelter produces roughly 300,000 tonnes of primary aluminium annually and consumes an amount of electricity comparable to that used by Marseille, France’s second-largest city. Company information places its yearly turnover at more than EUR 800 million (USD 921.4 million).
Despite AIP’s exploration of strategic options, worker representatives have not been informed of any concrete offers. The CGT union is calling for the French state to take part in any future consortium that might emerge, arguing that such involvement would help safeguard the site. However, the French Ministry refrained from giving an immediate reaction.
Meanwhile, broader market observers note renewed interest in industrial assets, although volatility continues to raise questions about which sectors may outperform. While many stocks have maintained a winning portfolio across all quarters, there remains uncertainty about which stocks may outperform amid market volatility
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