Wednesday, March 4, 2015

Paris – Areva plans 1 billion in savings, Holland Announces … – The Express

I asked the leaders of the two companies present a reconciliation could be confirmed in a few months ,” said the president at a press conference in Madrid, while Areva confirmed Wednesday morning its financial difficulties, with a loss of nearly 5 billion euros.

The CEO of Areva, Philippe Knoche, said the group did not rule out job cuts, while telling favor voluntary redundancy.

We will do everything so that if there is to be departures, they do so on a voluntary basis ,” said the leader at a conference press group, owned more than 87% by public capital.

The social dialogue must be initiated as soon as the dialogue with the elected representatives of the sites ” for that “ no layoffs can not be pronounced , “said Mr. Holland on this subject.

Pascal Evariste, CGT coordinator of Areva, has seen for its part in the Communication “ catastrophic ” group a willingness to “ get social elements between April September “.

This is not the employees to pay the piper, strategic errors of the old governance, the state monitoring fault that has not played its role “, also moved Cyril Vincent, CFE-CGC coordinator of the group.

Areva has yet given any figures, but only unveiled the calendar discussions with employee representatives. The group plans to start from late March 1st phase of consultation with the unions on “ a draft framework agreement ” on “ Employment, wages and time work “.

Areva had 45,340 employees at the end of 2013, two thirds of which in France.

The billion savings target for 2017 will be particularly via “ new shopping levers ” and “ strong productivity improvements “according to the group.

Areva also announced a net reduction of investment and asset disposal program higher than the € 450 million provided in October.



– Reconciliation asked with EDF –

As for “ re ” the partnership with EDF Mr Hollande said it had asked the leaders of Areva and EDF to work at a “ rapprochement ” the two groups.

The goal is “ players in the nuclear France team can work more than it did in the past ,” the president added.

The government pleads for several months to create a real French nuclear industry around Areva, EDF and CEA (Atomic Energy).

I wish to assure total government involvement for the French nuclear industry is restarting order ,” said his side the Prime Minister Manuel Valls.

But a public recapitalization is “ early ” in the eyes of Emmanuel Macron said while the study group “ ways to strengthen its capital base “.

Jean-Pierre Bachman, coordinator CFDT, the state should instead “ take responsibility “. “ There is a clear need for recapitalization. The group is not yet saved ,” said he said.

Areva has its catastrophic results to the difficulties (delays and additional costs) generated on the Olkiluoto 3 EPR projects in Finland and Flamanville in France, the financial fiasco of the acquisition of Uramin, the gloom of the nuclear industry since the Fukushima accident in 2011 and losses in renewable energy.

In 2014, the provisions made for the sole Finnish EPR project reached 720 million euros.

Areva account holders winds in China and Asia more generally in nuclear power.

The group has entered into a strategic agreement there a year with the Chinese CNNC on all nuclear activities and participates in the construction of the EPR Taishan 1 and 2, advancing better than the other two in Finland and France.

Areva shares closed Wednesday down 1.25% to 9.30 euros in a market sharply higher.

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