AUREA, European group dedicated to the circular economy

History of AUREA:

AUREA is one of the oldest companies on the Paris stock exchange, its listing dating back to the 19th century.

After having been active in the manufacture of gas lamps, stoves and other cast iron materials up until 1988 under the name AUER, the company gradually transformed itself into a holding company, possessing only cash assets and industrial land.

In 1992, AUREA, owned by the Cyril VERNES group, takes a new direction in the distribution of dental products.  But the crisis of 1994 slows down the growth of the company and its development projects, and 1999 ends with significant losses.

In 1993, on 10 December, Joel PICARD buys the assets of the Compagnie des Bases Lubrifiants, a used-oil recycling plant based in Seine Maritime, from the Commercial Court. He transfers this company into a new business created for the purpose, la Compagnie Française ECO HUILE.

In October 2002, three subsidiaries of the group are declared bankrupt and are placed into receivership.  Only the parent company AUREA has not filed for bankruptcy and its assets consist only of treasury shares.

The company FINANCIERE 97 controlled by Joël PICARD, launches a takeover bid for AUREA on 22 July 2003, with the aim being to establish a group of companies specialising in sustainable development activities.

On 27 August 2004, AUREA receives the transfer of 100% of shares of la Compagnie Française ECO HUILE, specialising in the regeneration of used motor oil.

AUREA begins to take shape into the company it is now.