AST GROUPE Continues its Accelerated Backup Procedure

The company AST GROUPE began an accelerated safeguard procedure on April 17, 2024 following a decision by the Lyon Commercial Court. The objective is to guarantee operational continuity while preserving the interests of its partners.

The Court extended the observation period until August 17, 2024. During this phase, AST GROUPE submitted its draft safeguard plan on June 19, 2024. This plan includes a restructuring around its highest value-added activities.

The project provides for a geographic refocusing, the completion of current projects and a drastic reduction in the workforce by more than 50%. An agreement on delivery guarantees was reached, improving the stability of the Group.

The timetable for the procedure provides for the vote of creditors on July 5, 2024 and the examination of the plan from July 17. The 2023 annual results will be published at the end of September and the 2024 half-year results at the end of October.