Vencorex: The Exalia recovery project is definitively abandoned, 250 jobs are lost

The Exalia project, intended to revive part of the activity of the chemical company Vencorex in Isère, has been definitively abandoned. Its proponents, Séverine Dejoux and Olivier Six, announced their decision on Tuesday, ending several months of efforts to try to preserve a strategic industrial activity at the Pont-de-Claix chemical platform. In a particularly critical press release, they denounced a "huge waste" and lamented the failure of an initiative they considered a major opportunity for French industry.

Launched after the acquisition of part of Vencorex's operations by the Chinese group Wanhua, the Exalia project aimed to develop a carbon-free production of hydrochloric acid, caustic soda, and liquid chlorine, primarily for the industrial and agri-food sectors. The project's promoters believed it could be a significant driver of reindustrialization while also meeting the government's objectives of ecological transition and industrial sovereignty.

A locally supported project

The initiative enjoyed the support of numerous local elected officials as well as regional economic players. Exalia promised the creation of more than 250 direct jobs in the short term and was intended to maintain some of the historical industrial expertise of the Pont-de-Claix site, considered one of the major chemical hubs of the Auvergne-Rhône-Alpes region.

The project's backers had submitted an initial takeover bid to the Lyon Commercial Court. However, last March, the court opted for a different solution, approving the sale of a large portion of the facilities to a company specializing in industrial recovery and dismantling. This decision severely jeopardized the site's prospects for revitalization.

A second attempt that proved unsuccessful

Following this legal setback, Exalia's promoters attempted to develop a new offer by negotiating the purchase of the remaining assets and certain infrastructure essential to continuing operations. Despite several weeks of discussions, this solution ultimately failed.

In their press release, Séverine Dejoux and Olivier Six denounce the constraints linked to the judicial liquidation procedures, which they deem incompatible with industrial imperatives. According to them, administrative delays, procedural obstacles, and the strict application of rules have made it impossible to realize a project that was nevertheless economically viable.

A debate on industrial sovereignty

Exalia's management believes this abandonment represents a failure that extends far beyond the local level. They describe it as a "human, industrial, and strategic tragedy" and consider that the project's demise further weakens France's ability to preserve its essential industrial sectors.

Beyond the Vencorex case, this affair reignites the debate on the legal tools used in insolvency proceedings and their capacity to support industrial takeover projects. Exalia's backers are now calling for a reform of the current framework to better reconcile job preservation, the maintenance of industrial skills, and the objectives of economic sovereignty.