Swiss steel firm Schmolz + Bickenbach chosen to buy France’s Ascometal

Swiss company Schmolz + Bickenbach has been chosen by a Strasbourg court to buy troubled French steelmaker Ascometal, the court said on Monday, with Schmolz + Bickenbach’s bid prevailing over a rival one from Liberty House. Ascometal, which makes specialty steel and employs around 1 300 workers, filed for court protection last November, and takeover offers for the company had come under the scrutiny of the Strasbourg court.