Tufton Assets Share Discussion Threads

[maywillow] 01/10/2003 14:12

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 10:23

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 06:23

Helena Rigby of Troy

[waldron] 01/10/2003 06:22

She's leaving home, goodbye

[maywillow] 30/9/2003 08:09

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 15:14

Reduced Pensions for Alstom Ships Engine Makers

[maywillow] 26/9/2003 15:06

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 06:49

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] 23/9/2003 23:27

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 10:51

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.
[e-mail]
sr/cmr

[grupo guitarlumber] 23/9/2003 10:35

(Updating to add Mer quotes)
PARIS (AFX) - Finance Minister Francis Mer said he expects the results of
the European Commission's probe into Alstom's rescue plan around Easter 2004.
He said the state will not rescue Alstom again in the future and was
responding this time to exceptional circumstances, not fundamental weaknesses.
He said the plan will eventually cost the taxpayer nothing as: "the money is
not lost, it is invested".
The new rescue plan agreed last night for Alstom will have similar effects
as the original plan floated in August and rejected by the European Commission,
Mer said, speaking on Europe 1 radio.
Mer also said he expects the company will need to restructure in order to
implement the plan.
Commenting on the prospects of EU acceptance of the rescue plans, Mer said
there was no comparison with the costly bailouts of Credit Lyonnais: "There is
no subsidy, just loans, grants by both banks and the state in market
conditions".
It is not the state's job to be constantly bailing out companies", Mer said.
[e-mail]
mrg/cmr

[grupo guitarlumber] 23/9/2003 10:34

PARIS (AFX) - Alstom is to face a class action lawsuit in the US, accusing
the company of presenting inaccurate results in order to boost its share price,
monthly L'Expansion reported, without citing its source.
The lawsuit was filed late August in New York against both Alstom and
current and former chief executives Patrick Kron and Pierre Bilger, Expansion
said.
Alstom declined to comment, Expansion said, adding that Bill Lerach, who
filed similar complaints against Enron, has lodged a second action, but that
neither have yet been approved by the courts.
It said the plaintiffs are demanding compensation for minority shareholders,
alleging the group artificially supported its share price, notably at the time
of the 2000 interims, by overestimating results and understating net debt and at
other times during the period November 1998-June 2003.
[e-mail]
mrg/cmr

[grupo guitarlumber] 23/9/2003 10:28

we all live in hope.

Bite the bullet just in case.

[getitrightfirsttime] 23/9/2003 09:04

Does this now mean my frozen pension may now be safe.

[maywillow] 23/9/2003 08:38

PARIS (AFX) - The new rescue plan agreed last night for Alstom will have
similar effects as the original plan floated in August and rejected by the
European Commission, Finance Minister Francis Mer said.
Mer, who was speaking on Europe 1 radio, also said he expects the company
will need to restructure.
[e-mail]

[maywillow] 22/9/2003 18:42

NANCY, France (AFX) - Prime Minister Jean-Pierre Raffarin said troubled
engineering company Alstom has been saved from bankruptcy, after all partners
have approved a new rescue plan.
"Alstom is saved," Raffarin said. "Confirmation has come from all partners"
over the state-backed 3.2 bln eur rescue package for the company.
[e-mail]
lwl/jlw

[maywillow] 22/9/2003 18:30

PARIS (AFX) - A new rescue plan for troubled engineering group Alstom has
been approved by all of Alstom's creditor banks, a banking source told Agence
France-Presse.
EU competition commissioner Mario Monti said earlier a revised rescue plan
for Alstom satisfies the European Commission's requirements under competition
rules.
[e-mail]
fol/lwl/jlw