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[grupo guitarlumber] 30/9/2005 17:18

DCN's Poimboeuf says tie-up with Thales should lead to European naval group

PARIS (AFX) - Jean-Marie Poimboeuf, chief executive of France's DCN
shipyards, said a tie-up with Thales SA's naval division should be the first
step toward the construction of a European naval giant, along the lines of EADS.
"It is something that seems to me unavoidable in the medium or long term,"
Poimboeuf said in an interview with Agence France-Presse.
He said the European shipbuilding market is worth 8-10 bln eur, close to the
10-12 bln eur of activity for the US market, but the US has concentrated its
operations into 4 major shipbuilding companies and 6 shipyards, whereas Europe
counts 20 companies and the same number of shipyards.
Poimboeuf said he wants to complete the alliance with Thales as soon as
possible. In a press interview today, Defence Minister Michelle Alliot-Marie
said talks are currently being slowed by a dispute over the valuation of the
various operations.
"Basically, these are technical obstacles that still need to be overcome,
concerning mainly problems about the valuation of assets," Alliot-Marie told
French daily La Tribune. "This is being sorted out by bankers."
Recent press speculation has said Thales, in which the French state owns a
31.3 pct stake, would take a 35 pct stake in DCN, but Poimboeuf refused to
comment on the terms of any deal.
Concerning the creation of a European shipping group, he said that while an
alliance with German companies would be possible, joining with other countries
would be more difficult.
Spain, for example, has recently agreed to cooperate with US companies to
build ships and submarines, while Italian shipyards produce both military and
civilian boats, making problematic any tie-up with European partners for
military shipbuilding exclusively.
As for the UK, Poimboeuf said the British government seems less interested
in cooperating with Europeans because of their interest in maintaining
trans-Atlantic ties, alongside fears of a decline in their own domestic
shipyards.
France and the UK are still in talks on a joint project to build three
nuclear-powered aircraft carriers, but the two countries have not yet reached an
industrial agreement.
"For us, the best choice, for the best price, would be to build the three
hulls in the same place, but the British want to keep their naval yards going,"
Poimboeuf said.
But a decision to launch the construction of one aircraft carrier for France
should be made by the end of this year, regardless of whether any agreement is
made with the UK, he said.
[e-mail]
ea-fol/ros/js/lam

[waldron] 19/9/2005 12:46

FINMECCANICA: GUARGUAGLINI, WORKING ON A DEAL WITH ALSTOM
(AGI) - Rome, Sept 19 - Finmeccanica (Italy's aerospace and defence firm) CEO Francesco Guarguaglini told press at a Nato meeting today that he is "working ib a deal with (railway company Alstom." The deal, he said, is part of Italy's efforts to introduce high-speed trains in the country. "We need to check whether our interests match," he added. By the end of October, CIPE (Italy's Interdepartmental Committee for Economic Planning) will pay the first trahce of its 695 million euro allocation to Finmeccanica, Italy's Aerospace and Defence Firm, said Finmeccanica's managing director Pierfrancesco Guarguaglini. The allocation is aimed to fund Tetra, a digital ICT project which will be used by Italian intelligence. Commenting on a statement by Interior Minister Giuseppe Pisanu, who on Aug 25 announced CIPE and Finmeccanica had signed a new cooperation deal, Mr Guarguaglini said the first funds will be released by the end of October. Speaking to reporters at Nato's Allied Command Transformation "Industry Day" event, Mr Guarguaglini also said that "the second tranche should be around 200 million." (AGI) (AGI) - Rome, Sept 19 - By the end of October, CIPE (Italy's Interdepartmental Committee for Economic Planning) will pay the first trahce of its 695 million euro allocation to Finmeccanica, Italy's Aerospace and Defence Firm, said Finmeccanica's managing director Pierfrancesco Guarguaglini. The allocation is aimed to fund Tetra, a digital ICT project which will be used by Italian intelligence. Commenting on a statement by Interior Minister Giuseppe Pisanu, who on Aug 25 announced CIPE and Finmeccanica had signed a new cooperation deal, Mr Guarguaglini said the first funds will be released by the end of October. Speaking to reporters at Nato's Allied Command Transformation "Industry Day" event, Mr Guarguaglini also said that "the second tranche should be around 200 million." .
191144 SET 05

[ariane] 04/9/2005 12:14

Alstom, Siemens Bidders for $5 Bln Saudi Rail Project (Update1) Sept. 4 (Bloomberg) -- Alstom SA, Siemens AG and Mitsubishi Corp. are among companies bidding for a $5 billion Saudi Arabian project to create the first rail link between the Persian Gulf and the Red Sea, a Saudi official said.

The state-run Saudi Railways Organization yesterday got initial offers from eight groups interested in the project that involves building a 1,065-kilometer (665 miles) railroad across the desert-kingdom, the organization's president Khalid Alyahya said in a telephone interview from Dammam today.

``The project will link the three major economic cities in Saudi Arabia for the fist time,'' Alyahya said. The groups of companies that include banks, railway builders and train makers that meet the Saudi's initial criteria will be invited to submit firm bids by the end of the year for the project, he said.

Saudi Arabia, the world's largest-oil exporter, wants to attract foreign investment to develop the country's infrastructure and expand its industrial base to create jobs for its expanding population, set to double to 30 million by 2020.

The kingdom last year hired UBS AG, Europe's biggest bank by assets, and France's state-owned rail operator Societe Nationale des Chemins de Fer, to advise them on the project, known as the Saudi Landbridge.

Build and Operate

The winning group of companies will build and operate the railway, which will carry both passenger and freight traffic, for a period of at least 30 years, according to Alyahya.

The existing Saudi rail network consists of two 500- kilometer (313-mile) lines connecting Riyadh, the capital, with the Persian Gulf seaport of Dammam and the petroleum center at Haradh, according to the state-rail operator's Web site.

At least 850,000 passengers and 850 million tons of freight were carried by the Saudi Railways Organization in 2002, according to the site.

A third railway line is being considered to link the religious centers of Mecca and Medina with the Red Sea port of Jeddah and industrial city of Yanbu, Alyahya said.

The Middle East is the ``fastest growing'' transport market for railway projects in the world, Charles Carlier, Paris-based Alstom Transport's senior vice president for southern Europe, said in a Sept. 21, 2004, interview.

Mitsubishi Corp., Japan's biggest trading company, won a $3.4 billion contract in May to build the first urban commuter metro in the Persian Gulf sheikdom of Dubai.

[mcbeanburger] 26/8/2005 08:34

china, crude and baltic dry....

[ariane] 14/8/2005 16:53

17/11/2005 Fiscal Year 2005/2006, Half-Year Results.

[ariane] 12/8/2005 08:18

Morgan Stanley Boosts Alstom Target Price

Thursday, August 11, 2005 3:22:28 AM ET
Dow Jones Newswires



0705 GMT [Dow Jones] Morgan Stanley raises Alstom (1022047.FR) target price to EUR37.20 from EUR0.93. Lifts '06 EPS to EUR1.31 from EUR0.03 and '07 EPS to EUR2.70 from EUR0.07. Follows consolidation of shares through a reverse share split, it says. "Consolidation took place through the exchange of 40 shares for one new share, as a result the price target increases by a factor of 40." Changes are a direct result of consolidation rather than a change in fundamental view. Maintains equalweight recommendation. Closed at EUR0.83. (AST)

[energyi] 04/8/2005 17:33

TROUBLE IN SHIPPING? ... Trouble in the Global Economy to follow?
====================

Movements in the BDI, as a leading indicator, have tended to precede movements in global stock markets. The index also tends to presage higher interest rates, because when larger volumes of raw materials are being shipped around the world, there is a greater need for financing and interest rates tend to rise.

This takes us to the direction of the BDI and the 10-year,



and 6-month charts, as reflected below.



The index registered a blow-off high near year-end 2004 at the 6250 level and plunged. An attempted rally in the first quarter of 2005 failed and since mid-April the BDI has dropped 63%. Over a 52-week period, the index has plunged 72%.

We already know that the European economy has slowed down appreciably. Britain alone has just reported the slowest economic growth in 12 years and the German economy is terribly anemic. Also, in Asia the Chinese economy has become overheated, and there is concern for the banking industry and possible negative impact on the Chinese economy.

The BDI chart seems to be predicting a significant slowdown in global economic activity which, for the world¡¦s stock markets, would mean the end of the cyclical bull market and a return of the secular bear market, and probably with a vengeance. For the world¡¦s capital markets, the dropping BDI should, in theory, mean lower interest rates. But in the debt-ridden US, a declining economy will cause an unprecedented real estate implosion for starters, which logically would cause interest rates to rise as defaults soared and the mood of Americans changed from fearless to fearful.

...MORE:

[maywillow] 02/8/2005 18:11

Alstom's 1-for-40 reverse share split to take place tomorrow

PARIS (AFX) - Alstom SA said its 1-for-40 reverse stock split, approved by
shareholders at the group's AGM last month, will take place tomorrow morning.
The number of Alstom shares in circulation will fall to 137 mln from 5.498
bln. Based on today's closing price of 0.84 eur, the new Alstom share price
would be 33.6 eur.
[e-mail]
js/ra

[waldron] 12/7/2005 08:10

ordre cours quantité
67 0,89 11724016
116 0,88 18626876
148 0,87 14991668
152 0,86 12766367
198 0,85 16993521
ordre cours quantité
890 0,90 26268857
470 0,91 24327820
378 0,92 25041890
181 0,93 19831309
144 0,94 17719138

[waldron] 12/7/2005 07:56

PARIS (AFX) - Share prices are expected to open flat to lower as a fresh
rise in oil prices prompt investors to take a breather after yesterday's gains,
dealers said.
The CAC-40 index yesterday closed up 21.25 4,321.56, it highest closing
level since May 2002.
On the Matif, July CAC-40 futures were trading down 3 points at 4,322 ahead
of the official opening, while the euro was at 1.2151 against the dollar
compared with 1.2068 late yesterday.


FORTHCOMING EVENTS

TODAY
-French May trade balance (8.45 am)
-BPLG-AFP June French small business confidence (9.00 am)
-Carrefour Q2 sales (after close)
-Air France-KLM AGM

TOMORROW
-SEB H1 sales

TODAY'S PRESS
Vincent Bollore to be named non-exec chairman of Havas today (Les Echos)

COMPANY NEWS
-Technip wins 800 mln usd contract from Chevron affiliate in Nigeria
-Alstom Q1 orders 3.981 bln eur vs 3.935 bln
-Alstom Q1 sales 3.561 bln eur vs 3.226 bln
-L'Oreal H1 sales 7.163 bln eur, up 3.5 pct
-L'Oreal sees 'significant improvement' in FY results
-L'Oreal says Western Europe ops returned to sales growth in Q2
-L'Oreal says all ops saw 'significant' upturn in Q2; to persist until
yr-end


MACROECONOMIC NEWS/POLITICS/MISCELLANEOUS
-BoF's Noyer says market-flexible social model 'has lessons for France,
Germany'
-EU's Almunia says 'possible' for France to meet 2005 deficit target
-Almunia says EU to take decisions on French, German deficits from end Sept
-Euro Group's Juncker says France has to take further action to cut deficit

MARKET NEWS/SENTIMENT
-ARCELOR DOWNGRADED TO 'SELL' FROM 'ADD' BY ABN AMRO

[e-mail]
mrg/ec

[waldron] 12/7/2005 07:44

Press Release

Orders & Sales for the first quarter of fiscal year 2005/06





Orders & Sales for the first quarter of fiscal year 2005/06 (1st April – 30th June 2005)
12 July 2005

· Orders stable at approximately €4.0bn

· Sales at €3.6bn, up 10% as compared to first quarter of fiscal year 2004/05

Commenting on ALSTOM's orders and sales, Patrick Kron, Chairman and Chief Executive Officer, said:

"The level of orders for the first quarter of fiscal year 2005/06 continues to be sound and is in line with expected commercial activity for the year. This performance reflects both an appropriate selectivity on orders and the registration of a large number of mid-sized contracts in Power and Transport.
The sales are recovering from the low point reached in the first part of last year, supported by the rebound of orders."

See full press release attached

[waldron] 11/7/2005 17:45

Alstom "underweight"

Monday, July 11, 2005 7:28:53 AM ET
J.P. Morgan Securities


LONDON, July 11 (newratings.com) - Analysts at JP Morgan maintain their "underweight" rating on Alstom (AOM.FSE).

In a research note published this morning, the analysts mention that the company is scheduled to post its Q1 sales and order results on July 12. Alstom is likely to have witnessed Q1 sales and orders in-line with the quarterly trends for the previous quarters, the analysts say. The investors are expected to focus on the company's ability to secure orders for the GT24/26 gas turbines product, JP Morgan adds.

[waldron] 11/7/2005 09:08

Alstom May Say 1st-Quarter Sales Rose 4.8% as Clients Returned
July 11 (Bloomberg) -- Alstom SA, the world's second-biggest maker of trains, may say fiscal first-quarter sales advanced 4.8 percent as orders picked up after the company's rescue from near bankruptcy two years ago.

Sales probably rose to 3.47 billion euros ($4.14 billion) in the three months through June from 3.31 billion euros a year earlier, according to the median estimate of eight analysts surveyed by Bloomberg News. Paris-based Alstom reports orders and sales tomorrow before its annual shareholder meeting.

A state-led bailout restored confidence in Alstom, the maker of TGV and Eurostar high-speed trains. Chief Executive Officer Patrick Kron, 51, approached the French government after costs from a faulty model of power turbine pushed the business toward default. He sold assets and cut 11,500 jobs to reduce costs.

``Kron did a good job piloting the recovery,'' said Yann Azuelos at Financiere Meeschaert in Paris, which oversees $3.5 billion and began selling its Alstom holding last week.

Shares of Alstom, which has built power stations that supply a fifth of the world's electricity, have risen about 52 percent this year, valuing the company at 4.67 billion euros. At 84 cents, the stock's price is still more than 97 percent lower than when it was first sold to the public in June 1998.

At the annual meeting, Alstom will ask shareholders for permission to combine 40 shares into one.

Orders Stable

First-quarter orders may be little changed from a year earlier at 4 billion euros, according to the analyst survey. Bookings included a 130 million-euro order from French rail operator SNCF, a 265 million-euro contract to supply hydroelectric equipment for a dam in India and 190 million euros for a nuclear- power plant in Sweden.

``Alstom has announced a number of orders during the quarter, but nothing out of the ordinary in terms of size,'' J.P. Morgan analyst Andreas Willi said in a note to investors. He rates the stock ``underweight.''

The April-June period was the fifth quarter out of six in which orders outstripped sales, according to the analyst estimates, meaning the value of new business coming is exceeding that of completed projects.

Alstom was on the brink of collapse in mid-2003 after the turbine faults led to 4 billion euros of repairs and compensation, draining cash and hurting orders as potential clients feared the business might not deliver on contracts.

Loss Narrows

After an 8 billion-euro rescue, the government is now Alstom's biggest shareholder, with a 21 percent stake. The company had its smallest six-month loss in three years in the fiscal second half through March.

Alstom plans to return to profit this year, with an operating earnings equivalent to 6 percent of sales, compared with 4 percent last year and 1.2 percent in 2003.

Kron is planning further asset disposals to raise cash and meet conditions imposed by European Union competition regulators in exchange for their approval of the French government-led bailout in 2003 and 2004.

[ariane] 10/7/2005 14:04

Order Backlog 25,368 Billion Euros

Sales 16,688 Billion Euros

Stock Market Valuation 4,672 Billion Euros

Number of Shares in issue 5,497 Billion giving a current share price of 0.85 euros


Fiscal Year 2004/2005 - Third Quarter Orders & Sales See also in:French
Print Send


Orders received: €12.2bn, up 29% versus the first nine months 2003/04, on a comparable basis
Sales: €9.7bn, down 8% on a comparable basis, reflecting the low level of sales in the first half of FY2004/05, due to past low order intake.
Commenting on ALSTOM's orders and sales, Patrick Kron, Chairman and Chief Executive Officer, said: "After a very strong order intake during the first half of FY2004/05, the commercial performance of the third quarter is positive and encouraging. The book-to-bill ratio (orders/sales) remains significantly above 1 for the fifth consecutive quarter. Sales are also starting to recover after the low level of the first half 2004/05."

See full press release attached.

[grupo guitarlumber] 06/7/2005 07:02

12/07/2005 Annual General Meeting 2004/2005
12/07/2005 First Quarter Orders and Sales 2005/2006

[waldron] 04/7/2005 06:58

CAF, Alstom, others shortlisted for 400 mln eur train contract - report

MADRID (AFX) - Spanish state-owned railway Renfe has shortlisted Alstom,
Siemens AG, CAF Construcciones y Auxiliar de Ferrocarriles SA, Bombardier Inc
and Ansaldo Breda for a 400 mln eur local train contract, Cinco Dias reported
without citing a source.
Cinco Dias said the companies have until September to present their bids for
the contract to build 80 trains.
[e-mail]
jg/jfr

[waldron] 03/7/2005 17:45

31/05/2005 Annual Results FY 2004/2005
12/07/2005 Annual General Meeting 2004/2005
12/07/2005 First Quarter Orders and Sales 2005/2006

[ariane] 27/6/2005 08:56

Bombardier to Build Train Maintenance Center in Southern China June 27 (Bloomberg) -- Bombardier Inc., the world's biggest train maker, said the company plans to build a maintenance center in southern China as it wins more orders for electric trains in the country.

Bombardier will design and fit out the center, which will be built on government land in Guangzhou, Andre Navarri, president of Montreal-based Bombardier's transportation division, said at a briefing in Beijing today. The center will be able to service as many as 250 trains, he said.

The train maker is boosting its presence in China, where the government plans to build an additional 10,000 kilometers (6,200 miles) of track in the next five years. Bombardier is expecting to win orders valued at an estimated $4.38 billion in that time, betting they will help boost earnings at the company's train unit.

``Orders from China will certainly help make us more profitable,'' Navarri said. Bombardier, which competes with France's Alstom SA and Germany's Siemens AG, has won orders in China valued at $1.1 billion in the past six months.

The Canadian company's train unit had losses in the fourth quarter of fiscal 2004 and first quarter of fiscal 2005. Trains contributed 48 percent to Bombardier's first-quarter revenue of $3.8 billion.

The company plans to more than double its workforce in China to more than 3,000 by 2006, said Navarri, who did not disclose the total investment cost for the maintenance center.

Bombardier said on June 2 it expected total rail orders this year will probably exceed the $4.5 billion it booked in 2004 as it wins more business in Europe, North America and Asia.

The company booked $1.6 billion in new train orders in the fiscal first quarter of 2006 and has a $21 billion backlog, not including 20 trains China's Ministry of Railways last ordered earlier this month.

France, Spain

Elsewhere around the world, Bombardier is negotiating an order for high-speed trains in Spain and bidding for work in countries such as France, Poland and Turkey, Navarri said in an interview on June 2 at the company's headquarters in Montreal, Canada.

Bombardier is competing with Alstom and Siemens for a contract in France to build 330 railcars for French national railways. A winner will be announced this year, Navarri said on June 2. Europe accounts for about 75 percent of Bombardier's rail revenue.

Bombardier expects profit in the rail business to climb in coming years as it trims the number of suppliers and buys more parts and raw materials from lower-cost countries including China and Mexico, Navarri said on June 2.

Fewer Suppliers

Bombardier expects its rail unit to be profitable this year. Navarri said on June 2 he wants earnings before interest, one- time items and income taxes, or Ebit, to represent 6 percent of revenue within four years. That compares with 2.4 percent in the first quarter.

To cut purchasing costs, Bombardier is seeking to reduce the number of suppliers for some products to two or three from as many as 12 within three years, Navarri said on June 2.

Bombardier also intends to standardize products such as train doors while buying increasing amounts of parts and raw materials including steel and bolts from Eastern Europe, China and Mexico, he said.

Bombardier has said it plans to shutter three more plants within the next 12 months after closing four European factories in the past year.

Bombardier's widely traded Class B shares closed up 4 cents at C$2.70 in Toronto Stock Exchange composite trading on June 24. They have dropped 32 percent in the past year.

Bombardier had revenue of $15.8 billion for the fiscal year ending Jan. 31.

[maywillow] 16/6/2005 10:19

Goldman Sachs Cuts Alstom SA To Underperform >12019.FR

Thursday, June 16, 2005 3:39:34 AM ET
Dow Jones Newswires





NEW YORK (Dow Jones)--Goldman Sachs cut French engineering group Alstom SA (12019.FR) to underperform from neutral perform, citing valuation, even though it said the company is likely to exceed it operating margin target in fiscal 2006.

"With no liquidity concerns for the next three years, long-cycle exposure, a 40-for-1 share consolidation due in the summer, and on the verge of generating positive free cash flow, Alstom is back on investors' radar screens," Goldman said.

[energyi] 15/6/2005 11:42

The summer lull has come hard and furious this year!

There may be quite a number of newcomwers to this market who do not
understand how cyclical it can be