Tufton Oceanic Assets Share Discussion Threads

[maywillow] 08/10/2003 10:24

PARIS (AFX) - EU competition commissioner Mario Monti said his team will
examine the planned merger of Groupe Air France SA and KLM Royal Dutch Airlines
NV in a constructive manner, in an interview with french radio Europe 1.
"This is a very interesting case," Monti said. "Obviously, we are going to
examine it in a constructive manner, because we recognize the need for more
consolidation" in the airline sector, Monti said.
Concerning the French government's planned 3.2 bln eur rescue package for
the ailing engineering group Alstom, to be investigated by the EU Commission,
Monti said the Commission "is not trying to push Alstom into bankruptcy."
"Europe allows financial aid and restructuring plans, as long as they
conform" with EU rules on state aid, he said.
The Commission blocked an original rescue package proposed by the French
government, since it would have seen the state take a direct 30 pct equity stake
in Alstom before the Commission had ruled on the legality of the aid.
Monti also said that in the case of Bull, which has yet to repay a 450 mln
eur loan from the French government that was due last Summer, the company had
already received restructuring aid from the government in the past.
"One strict condition is the non-repetition of financial aid," Monti said.
"We do not allow the permanent use of life support" for companies.
"You can imagine what kind of situation the French and European economies
would be in if each state could grant aid without any restrictions," he added.
The European Commission said earlier this month it plans to take the French
government to the European Court of Justice to recover the 450 mln eur rescue
aid package for Bull.
[e-mail]
js/jc

[maywillow] 03/10/2003 18:47

PARIS (AFX) - Thales SA chief executive Denis Ranque denied rumours of an
imminent shake-up of the group's shareholding structure, saying neither the
state nor Alcatel has expressed an interest in selling their stakes soon.
"The rumours surrounding Thales are not justified," Ranque said in an
interview with the Journal des Finances magazine, to be published tomorrow.
"I think that it's up to each of our shareholders to make their own
decisions but, for the moment, neither Alcatel, nor the state has shown any
interest in seeing their stakes change in the short term," he said.
Alcatel holds a 9.5 pct stake in Thales and the French state has 31.8 pct.
Dassault Aviation holds a 5.9 pct stake, while Thales holds 5.6 pct of its own
shares as treasury stock. The remainder, 47.4 pct, is traded on the stock
market.
Ranque has stated in the past that he eventually hopes to see the French
government divest its stake.
He reiterated in the Journal des Finances interview that "Thales needs
shareholders, like any company, but it is not vital to have support from
industrial partners" as shareholders.
"I bet that the evolution of Thales' shareholding structure will be
surprising. The best things are prepared in secret," he added.
Ranque also repeated his aim of developing its naval activities, but refused
to comment directly on Thales' interest in the potential acquisition of the
German shipyard Howaldtswerke Deutsche Werft AG (HDW), owned by Bank One Corp
unit One Equity Partners.
"We do not need to own a shipyard to be a big player in the naval business,"
he said. "The essential thing is to avoid creating a monopolistic structure,
which would exclude us from certain contracts and keep us from remaining a major
player in this market."
Earlier this week, Thales's Francois Lureau, director of the group's Defence
unit, said the company is in talks with France's state-owned Direction des
Constructions Navales (DCN) to link the companies' naval activities.
[e-mail]
js/jsa

[maywillow] 03/10/2003 18:47

PARIS (AFX) - Thales SA chief executive Denis Ranque denied rumours of an
imminent shake-up of the group's shareholding structure, saying neither the
state nor Alcatel has expressed an interest in selling their stakes soon.
"The rumours surrounding Thales are not justified," Ranque said in an
interview with the Journal des Finances magazine, to be published tomorrow.
"I think that it's up to each of our shareholders to make their own
decisions but, for the moment, neither Alcatel, nor the state has shown any
interest in seeing their stakes change in the short term," he said.
Alcatel holds a 9.5 pct stake in Thales and the French state has 31.8 pct.
Dassault Aviation holds a 5.9 pct stake, while Thales holds 5.6 pct of its own
shares as treasury stock. The remainder, 47.4 pct, is traded on the stock
market.
Ranque has stated in the past that he eventually hopes to see the French
government divest its stake.
He reiterated in the Journal des Finances interview that "Thales needs
shareholders, like any company, but it is not vital to have support from
industrial partners" as shareholders.
"I bet that the evolution of Thales' shareholding structure will be
surprising. The best things are prepared in secret," he added.
Ranque also repeated his aim of developing its naval activities, but refused
to comment directly on Thales' interest in the potential acquisition of the
German shipyard Howaldtswerke Deutsche Werft AG (HDW), owned by Bank One Corp
unit One Equity Partners.
"We do not need to own a shipyard to be a big player in the naval business,"
he said. "The essential thing is to avoid creating a monopolistic structure,
which would exclude us from certain contracts and keep us from remaining a major
player in this market."
Earlier this week, Thales's Francois Lureau, director of the group's Defence
unit, said the company is in talks with France's state-owned Direction des
Constructions Navales (DCN) to link the companies' naval activities.
[e-mail]
js/jsa

[philmiboots] 02/10/2003 22:50

Great Eastern Isambard Kingdom Brunel's steamer in silver mounted on a piece of Jarrah from the deck. Dimensions: 1/500 scale

[maywillow] 01/10/2003 15:15

PARIS (AFX) - The Finance Ministry said it has not increased the amount of
funds it hopes to inject in Alstom as part of the group's refinancing deal,
denying EU sources that said the government wants to add 900 mln eur to the
package.
Alstom also denied that the French government will raise its funding, adding
that no changes have been made to the rescue deal that has been announced to the
EU Commission.
Earlier today, an EU source said the government hopes to add 900 mln eur to
Alstom's 3.2 bln eur refinancing package, through participation in a commercial
paper programme.
[e-mail]
js/jc

[maywillow] 01/10/2003 15:12

BIG BLUE


KIEL, Germany (AFX) - German shipyard Howaldtswerke Deutsche Werft AG (HDW)
said it is to build a mega-yacht for Russian oil billionnaire and Chelsea
Football Club owner Roman Abramovich.
The 100 metre-long vessel will be known as 'Le Grand Bleu'.
HDW is currently the subject of takeover rumours at the hands of several
companies, notably French state-owned defence company Direction des
Constructions Navales (DCN).
dp/scs/jms

[maywillow] 01/10/2003 11:23

BRUSSELS (AFX) - The French government has notified EU competition
authorities that it wants to inject a further 900 mln eur into crippled
engineering group Alstom, sources said today.
bur/jit/mt/hd/jfr

[waldron] 01/10/2003 07:23

Helena Rigby of Troy

[waldron] 01/10/2003 07:22

She's leaving home, goodbye

[maywillow] 30/9/2003 09:09

RNS Number:3287Q
Alstom
30 September 2003
30 September 2003


PRESS INFORMATION

ALSTOM RECEIVES WORLD'S LARGEST LNG CARRIER ORDER FROM GAZ DE FRANCE

ALSTOM, via its subsidiary Chantiers de l'Atlantique in Saint-Nazaire (France)
has just received the confirmation of on order from Gaz de France for a
liquefied natural gas (LNG) carrier of 153 500 m3. Its delivery is scheduled for
the end of 2005. This order also includes an option for a sister ship to be
delivered at the end of 2006.

This LNG carrier, which will have the largest capacity in the world,
incorporates innovative technologies already developed for the LNG carrier Gaz
de France energY, currently built at Chantiers de l'Atlantique; in particular
diesel-gas electric propulsion system and a new insulation technology, CSI type
(foam insulation system).

This order demonstrates ALSTOM Marine's expertise in this market, for which it
has already built 15 LNG carriers. It also underlines ALSTOM Marine's strategic
focus on high added-value vessels, including cruise ships, ferries, naval
vessels and scientific research vessels.

ALSTOM Marine's orderbook now consists of two LNG carriers (plus one option) for
Gaz de France, one ferry for seaFrance, one scientific vessel for Ifremer, two
Landing Helicopter Docks (LHD) for the French Navy built in cooperation with
DCN, one 71m+ luxury motor yacht, and two cruiseships, MSC Opera for MSC and
Queen Mary 2 for Cunard (Carnival group).

Press enquiries: G. Tourvieille/S. Gagneraud
(Tel. [phone])
[e-mail]



Investor relations: E. Chatelain
(Tel. [phone])
[e-mail]


This information is provided by RNS
The company news service from the London Stock Exchange
END
STRIIFITAFIIVIV

[waldron] 29/9/2003 16:14

Reduced Pensions for Alstom Ships Engine Makers

[maywillow] 26/9/2003 16:06

RNS Number:2457Q
Alstom
26 September 2003

Date: Friday 26 September 2003

ALSTOM

ALSTOM hereby announces the intended cancellation of its secondary listings of
both ordinary shares and UK Depository Receipts evidencing these shares on the
Official List of the UK Listing Authority and from trading on the London Stock
Exchange's market for listed securities. The last day of trading in both of
these types of securities on the London Stock Exchange will take place on 17
November 2003. Following cancellation of ALSTOM's secondary listings on the
London Stock Exchange, holders of ordinary shares in ALSTOM will still be able
to trade these shares on Euronext Paris (Paris Stock Exchange).

As separately notified to each holder of ALSTOM's UK Depository Receipts, such
holders are entitled to exchange their UK Depositary Receipts for ALSTOM
ordinary shares until 3pm on 24 November 2003. Where any UK Depositary Receipt
has not been exchanged for ALSTOM ordinary shares by 3pm on 24 November 2003,
the UK Depository Receipt will be cancelled and the ALSTOM ordinary shares
referable to such UK Depositary Receipt will be sold on the holder's behalf and
the net proceeds, less commission at 0.75%, delivered to him.


- ENDS -

[ariane] 26/9/2003 07:49

RNS Number:2097Q
Alstom
26 September 2003


26 September 2003



ALSTOM SELLS ITS TRANSMISSION & DISTRIBUTION ACTIVITIES TO AREVA FOR Euro950
MILLION

ALSTOM has reached an agreement to sell its Transmission & Distribution
activities to Areva, for an entreprise value of Euro950 million, which is another
key step in its continuing disposal programme.

The Transmission & Distribution Sector sells products, systems and services for
the medium and high voltage markets. The Sector's Power Conversion activities
are not part of the transaction and will remain within ALSTOM.

In the last financial year, ALSTOM's Transmission & Distribution Sector
(excluding the Power Conversion activities) generated sales of Euro3.2 billion,
accounting for 15% of ALSTOM's revenues. It employs 25,000 people in 70
countries.

Commenting on the planned sale, Patrick Kron, Chairman and CEO of ALSTOM said:
"This transaction constitutes another key step in implementing the action plan I
launched on 12 March 2003. I also believe that T&D has a bright future in the
Areva Group."

The transaction is subject to normal closing conditions, including regulatory
clearances and the completion of employee consultations. Closing is expected in
January 2004.

[waldron] 24/9/2003 00:27

PARIS (AFX) - Alstom is maintaining its target of selling a total of 3.0 bln
eur in assets by 2005, but "disposal conditions are currently difficult", said
chief executive Patrick Kron.
The sale of the T&D division is expected to bring 2003 disposals to a total
of 2.5 bln, but Kron told Le Monde in an interview that he wants to sell the
additional assets at the best price for the company.
mrg/cmr

[grupo guitarlumber] 23/9/2003 11:51

PARIS (AFX) - Share prices were lower in midday trade as Wall Street's
losses, the dollar weakness and disappointing French consumer spending figures
weighed on sentiment, with Alstom among the biggest decliners, dealers said.
At 12.06 pm the CAC-40 index was 19.29 points lower at 3,263.66.
Volume was 1.4 bln eur.
On the Matif, September CAC-40 futures were trading down 23.0 points at
3,263.0.
The euro stood at 1.1490/95 against the dollar compared with 1.1465/69 usd
in late trade yesterday.
The index opened higher, reversing gains in morning trade on the dollar's
continued woes, and as investors digested news that French household consumption
of manufactured goods fell 2.7 pct in August compared with a 1.1 pct rise in
July, and expectations of a 0.3 pct increase, dealers said.
"Any bad news is just panicking the market," said a dealer in Paris.
"There's quite a bit of profit-taking going on. There was a feeling the
market needed to come off a bit, with a dip followed by a further wave.
Investors want to have a bullish tendency," he said.
"There's little news, and portfolio managers have not been very active this
morning," said another Paris-based dealer.
Among the decliners, Alstom plummeted 0.1 eur or 3.6 pct to 2.69, reversing
initial sharp gains, as news it expects to report a first-half net loss of 500
mln for its 2003/2004 fiscal year and an operating margin of "just over" 1 pct
took the shine off the approval of the revised rescue package, dealers said.
Analysts at Oddo Pinatton said Alstom's financial situation is becoming
"increasingly tense," and noted that Alstom has issued a "massive profit
warning" of "catastrophic" results for the current financial year.
Alstom said last night the revised financing package with the French
government and its creditor banks has been increased to 3.2 bln eur from 2.8
bln.
In the pharmaceutical sector, Aventis was down 0.21 at 47.10 after a
downgrade to 'neutral' from 'outperform' by CSFB.
And rival Sanofi was down 0.1 at 54.35 after the same broker downgraded the
stock to 'underperform' from 'neutral'.
Suez, one of the few CAC-40 gainers, rose 0.09 to 14.17. Earlier Morgan
Stanley raised its price target to 18.50 eur from 16.50 eur and its fair net
asset value estimate to 23.0 eur from 20.5 eur on the back of the group's cost
cutting efforts to lower its debt load.
Atos Origin was also trading in positive territory, rising 1.5 or 2.9 pct to
53.15, following yesterday's acquisition of Schlumberger's IT services unit, and
as JP Morgan raised the group's price target to 52 eur from 40.
But Vivendi Universal was off 0.09 at 15.62 in line with the overall market
trend and ahead of tomorrow's first-half results.
Among telecoms stocks, France Telecom gave away 0.13 to 21.32, reversing
earlier wins, inspired by news last night that Moody's raised its outlook for
the Baa3 long-term debt ratings for the French incumbent and its Orange
subsidiary to positive from stable, dealers said.
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sr/cmr