Monday, October 10, 2016

STX Saint-Nazaire: the State, the majority shareholder? – Challenges.fr

Would that be the effect Belfort ? A week after the media coverage of the battle of the State to save the historical factory, Alstom, the State seems to want to avoid flirting with a new industrial catastrophe with a jewel in the crown of the French economy. The threat ? The shipyards STX in Saint-Nazaire could pass under chinese flag. To avoid this, the State would consider to become a major shareholder of the shipyard in Saint-Nazaire, as the south Korean group STX Offshore & Shipbuilding, threatened with liquidation, would like to sell, reports Release on Monday.

today, it is this possibility that is studied by the government, writes the daily, according to information that has been obtained.

“Of chinese for deep pockets”

“In the event of a sale group, one is likely to see the arrival of Chinese with deep pockets that can affect a transfer of techno. This is not an option for the French government,” said Libe a source close to the folder in Bercy.

“All the scenarios being studied. The State can ride to the capital, alone or accompanied, is to take the majority of STX France the time it will take, says Bercy,” according to the journal. Liberation said that the representatives of the trade union FO of STX France must be received by Tuesday morning at the ministry in paris by the advisers of the minister of Economy, Michel Sapin, and the secretary of State for Industry, Christophe Sirugue.

“A stable shareholding structure, durable and strong”

Heavily in debt, the group STX Offshore & Shipbuilding, which has since 2008 two-thirds of the share capital of STX France, the remaining third being in the hands of the French State, announced in early September, on the eve of a presentation of a restructuring plan to a court in Seoul, its goal is “to have completed the sale of STX France at the end of the year.”

The shipyard of Saint-Nazaire (Loire-Atlantique), with a staff of 2,600 employees, displays a form insolent with fourteen cruise ships to build for its two main customers, the swiss-Italian MSC Cruises and the american Royal Caribbean, but its sale should help put afloat the subsidiary of the conglomerate STX, which ranges from shipbuilding to the building.

“Our goal is to build a stable shareholding structure, durable and solid that will be anxious to preserve the know-how and industrial employment in Saint-Nazaire and abiding strategic interests in French. The State will give priority to this scenario by any means,” says one still in Bercy, according to a Release.

(With AFP)

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