Tuesday, December 27, 2016

The Italian Fincantieri the sole candidate for the takeover of STX France – Echoes

One buyer is finally in the running for the takeover of STX France, said on Tuesday the court in the south Korean officer to review the procedure for judicial redress of its parent company STX Offshore & Shipbuilding. It has not revealed the identity of the single candidate. It would be the Italian Fincantieri, has informed the “Echos” a source close to the folder. A name that is also advanced by other media. Interviewed by ” Les Echos “, the group home, based in Trieste, declined to comment, as the secretariat of the French State and the Industry. “It will not be as long as the Korean court would not be expressed [this last will formalize the name of the buyer on January 3, editor's NOTE] or that the applicant will not be unveiled “, argues one in the entourage of Christophe Sirugue, who follows the case closely.

in recent months, four companies had shown an interest in STX France and its navy yard – and jewel – Saint-Nazaire : the Dutch Damen and Fincantieri – which could join the French DCNS, for a minority stake – as well as the chinese Genting Hong Kong. The asian option was afraid to trade unions, a ” plunder of the know-how “. The risk is apparently now ruled out. A buyout by Fincantieri does, however, raise other questions, competitive. STX is in effect, for what concerns the manufacturing of ocean liners, the great rival of the giant Italian shipbuilding (Fincantieri, whose activities are diversified, is also active in shipbuilding, military, among others).

A well-filled order backlog

While the latter can be qualified as an industrial partner of the american Carnival, the world number one in the cruise, and especially of its Italian subsidiary Costa, the first owner, european, STX France is working closely with the competition, namely the american Royal Caribbean Cruises Limited (RCCL) and the swiss-Italian MSC Cruises. And RCCL and MSC should be even more attentive to the conditions of the resumption of the construction site of Saint-Nazaire, one of the largest in the world, they were copiously trimmed his workload in recent years.

Video : A single candidate to the recovery of STX France

last week, STX France is still seen to confirm the order of five steamers giants by RCCL and MSC, for a total amount of 4 billion euros. Contracts representing 35 million hours of work. After flirting with disaster in 2012 – to the point that the trade unions had appealed to the State (shareholder 33,34 %) to save the company – the company now has an activity guaranteed until 2030. STX France, which has about 2,600 employees and makes them work some 5,000 sub-contractors, is therefore like a charm, while its parent company south-coréeene STX Offshore & Shipbuilding, which has been sold on the 19th of October last, is, on the other hand, in a situation of quasi-bankruptcy.

The court of south korea must confirm the 3 next January, the name of the preferred bidder for the recovery of STX France… from this date undertake exclusive negotiations to complete the transfer.


No comments:

Post a Comment