Investors set to inject EUR 250m in Arc International
A consortium of investors is ready to invest up to EUR 250 million in French household goods maker and distributor Arc International, the company said on Friday.
The consortium is led by the Russian direct investment fund RDIF and CDC International Capital (CDC IC), as unit of Caisse des Depots, and includes several sovereign funds.
The financial resources will enable Arc International to launch several investments, such as the construction of a plant in Russia and the modernisation of the site in Arques, northern France, whose production capacity will be increased.
Arc International aims to improve competitiveness and to boost research and development (R&D) activities.
According to staff representative Frederic Specque, a large part of the funds must be allocated for the site in Arques.
Arc International, which owns the brands Luminarc, Cristal d'Arques and Arcopal, is majority controlled by US investment fund PHP.
In 2015, the troubled company was forced to lay off 110 workers.
Arc International employs some 10,000 worldwide, of whom half in France and posted sales of EUR 849 million in 2015.