The revival of the Acieries de Ploërmel steelworks : a co-operative's experience

It is hard for employees to believe that the company's executives could possibly save the company ! Neither is it easy either for these executives to become managers, and take the chance that their employees will be able to assume their new responsibility as share-holders ! It is a difficult for bankers to believe that all these people together will do better than the previous American share-holders ! Also it is hard to believe that capital is not the answer to everything, or that a co-operative enterprise is not a kolkhoz ! And yet, with a little luck, lots of determination, an imaginative administrative receiver and loyal clients, this approach worked for the Aciéries de Ploërmel Industrie steelworks. And we all know how difficult it is to make money in the foundry industry these days !