Areva rapprochement with EDF becomes a possibility – Les Echos

+ VIDEO – Nuclear Group confirms net loss of 4.8 billion euros in 2014 and provides a plan of one billion euros in savings . The employment issue arises filigree

.

Article (s) associated (s)

The Areva nuclear expert does not rule out job cuts as part of Wednesday partly unveiled recovery plan and which provides in particular 1 billion euros in savings after a loss of nearly $ 5 billion in 2014. “We will do everything so that, if there must be some departures, they do so on a voluntary basis,” said the CEO of the group Philippe Knoche at a press conference in the occasion of the presentation of the results of the group, held more than 87% by public capital.

Areva confirmed Wednesday a record loss of 4.8 billion euros 2014 and announced a recovery plan including including 1 billion euros in savings by 2017, significant divestitures and strategic refocusing but postponed the social aspect of this plan. The group plans to hire “from the end of March” consultation phase with unions on “a draft framework agreement” on “employment, remuneration and working time” , he said in a statement.

The issue of employment

The Minister of Labour, François Rebsamen assured on France Inter that the government was following “closely” the case and at this stage no job cuts had been raised, particularly during a meeting Monday with the president of the board of Areva, Philippe Varin attended by Minister of Economy Emmanuel Macron. “If there were job cuts, this would of course without layoffs,” he said. Mr. Macron was also assured Tuesday that there would “never use social carnage” Areva

François Rebsamen on Areva. <- - Sdvenc!>: “Deletions … by franceinter

Areva also has an urgent need to bail out but did announce 2015-2017 financing plan that by the publication of its interim results on 30 July. However, the group already announced a net reduction in investment will be reduced to less than 3 billion euros in 2017 against 4 6 billion between 2012 and 2014 and an asset disposal program above the 450 million euros announced last October. The group also announced “the lifting of bank financing in industrial assets” and “partnerships with a financial section “.

Reconciliation EDF

A reconciliation with EDF capital, which could take a stake in the group or certain assets, is not excluded, but discussions on this issue only occur “in a second time,” said Philippe Knoche. The “overhaul” of the partnership between the electrician and nuclear specialist Areva announces might go “to a reconciliation, including capital,” also said Mr. Macron in an interview with Le Figaro published on Wednesday.

At first, this merger goes through the completion of ongoing projects (EPR Flamanville EPR Hinkley Point in the UK), optimization of the range of reactors developed by the two French groups and the “challenge of competitiveness,” according to Areva. State recapitalization is the opposite “premature” said Emmanuel Macron.

Areva has its catastrophic results to the difficulties (delays and additional costs) generated on the Olkiluoto 3 EPR projects Finland and Flamanville in France, the financial fiasco of the acquisition of Uramin in 2007 in the gloom of the nuclear industry since the Fukushima accident in 2011 and losses in its operations in renewable energies. In the future, the Group intends to focus on “the heart of nuclear processes” and make its development in China a priority

& gt Also read.; A SURVEY Saint-Marcel, bitter expectation of employees of Areva

Source AFP