Dropped by its Chinese shareholder, the FCT company, flagship of the Tarn industry, on the verge of liquidation

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The Flow control technologies company in Saint-Juéry, which has 70 employees, has just been let go by its Chinese owner. A judicial liquidation is possible if no solution is found.

Two years after its takeover in 2020 by China automation group, which had already cut 43 jobs when it took control, the Saint-Juérienne company Flow control technologies is again in turmoil. Flagship of Tarn industry, it now employs 70 people focusing on the construction of high-tech industrial valves for oil and gas.

The factory counted up to 200 workers, which made it the 2nd industrial employer of the Albigeois. Over the years, the buyers follow one another, the workforce decreases. It includes the American Tyco, Emerson and the Altifor group, before a first judicial liquidation. This is when the Chinese company takes the reins. Investment promises (we are talking about 20 million), will never happen. Did China automation group choose to sacrifice its subsidiary after recovering the technology? Still, Flow control technologies declared itself insolvent a few days ago.

Towards a judicial liquidation?

“Obviously I am very worried about the employees of FCT. I was only made aware four days ago, by a telephone call from the sub-prefect. Today (Editor’s note, yesterday), I inquire hour by hour on this file, knowing that the economic competence belongs to the community of agglomeration ”, summarizes the mayor of Saint-Juéry, David Donate. “I’m still surprised. The company had diversified, had ongoing contracts. There, we learn that the Chinese owner loose FCT. It’s crazy. The important thing today is to help employees, to support them towards retraining, if there is no recovery. »

If no solution is found in the days to come, a rapid judicial liquidation could be pronounced (perhaps this week), which does not exclude the possibility of a possible buyer who allows the continuation of the activity.

“We will do everything to help them”

Within the agglo, we follow this file very closely. “We are now in a period of observation. Let’s admit that the lights are more red than green. I think we are heading towards a judicial liquidation. There is no more money in the coffers,” admits Roland Gilles, vice-president of the agglo, in charge of economic development.

The chosen one wonders. “In October, I met the owner. Not for a moment did he speak to me of difficulties. Two months later, here we are. We know that the global oil and gas economy is complicated. But OK. Today, we must focus on employees.

“It is our priority. You should know that the financial tools are in the hands of the State and the Region. We are working on several tracks. We may launch applications when we are recruiting. It would be necessary to activate, in relation with the State, the Transco device, which allows employees to suspend their employment contract for several months to carry out qualifying training, while being fully paid “Finally, he proposes “to make available employees, third places so that FCT workers can work on their professional projects. Either way, we won’t let them down. »
Still, 70 families will experience a very special Christmas Eve.

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Dropped by its Chinese shareholder, the FCT company, flagship of the Tarn industry, on the verge of liquidation

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