According to published reports, a French-based airport services firm Penauille Polyservices it was in talks with CFF Recycling, France's leading scrap metal recycler, about a tie-up that could end its independence after it amassed punishing debts.
"Penauille Polyservices confirms that discussions are in progress with CFF Recycling aimed at possibly bringing the companies together, but nothing is decided," a spokesman said.
CFF Recycling, with sales of EUR1.1 billion, has been branching into new areas and looking at making acquisitions on the back of rising metal prices and brisk global demand for steel.
Details of the proposed tie-up were unclear but daily Les Echos reported that Penauille was negotiating a friendly takeover by CFF Recycling.
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