Wednesday, January 4, 2017

The takeover of STX by a european in accordance with the wishes of France – Le Figaro

A takeover of STX France by the Italian Fincantieri would satisfy the criteria of the French State who wishes to be a buyer, european, stressed on Wednesday the secretary of State for Industry, Christophe Sirugue.

“We don’t have to say yes or no” to the Italian Fincantieri, has held the secretary of State in an interview on RMC. “We said we wanted a european industrial Fincantieri it is an industrial and european, it would still today have difficulties to tell him no.”

“The interest of Fincantieri, it is to succeed in its operation with the acquisition of STX France, the interest of the French State it is to preserve our flagship, I believe it is on this basis that the discussion”, added Mr. Sirugue.

The secretary of State has also stressed that the issue of technology transfer lies in negotiations, “in order to avoid that we take our know-how.”

The trade unions at STX are concerned with the transfer of French know-how to China, Fincantieri has signed a technology transfer agreement with a chinese group, and, in the longer term, a relocation of production.

“In the discussion with Fincantieri, we must organize things in such a way that the industrial property that is ultimately the value of the shipyards of Saint-Nazaire may not be able to go with the exchanges that occur also on other sites”, he estimated.

For its part, the government spokesman Stéphane Le Foll has assured that “the State will act.”

“It is a shareholder, so the State will present conditions which are: the continuity of the activity, the securing of know-how and the ability to project into the future,” he said on France Info.

The justice of south korea has upheld on Tuesday the shipbuilder Italian Fincantieri as the preferred candidate for the takeover of the shipyard STX France of Saint-Nazaire.

But before an agreement is signed to acquire 66,6% of STX France, Fincantieri has yet to agree on a purchase price with the south Korean group and enter into discussions with the French State, which owns the remaining one-third, and has a blocking minority.


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