DOCSLIB.ORG

€9 €697 €527 €1.2

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
€9 €697 €527 €1.2 SHAREHOLDER INFORMATION November 2008 ALSTOM&YOU DIARY Analysts’ Letter to shareholders recommendations Analysts’ views Dear shareholders, After being steadily among the top During this first semester, Alstom set a new Despite the turbulences that have arisen 1 performers of the Paris Stock Exchange over commercial record with order intake over the stock exchanges during the past few Reduce the past years, Alstom’s share price has exceeding €15 billion, up by 20%, which has months and the drop in the share value in sharply declined during the recent weeks. brought the backlog at the end of September September and October, the majority of ana- Clearly, the financial crisis and its expected to €47 billion corresponding to two and a lysts’ opinions on Alstom remain favourable: 9 adverse impact on the global economy have half years of sales. Over the same period, Hold • 52% give a positive recommendation, hit the stock market in general, and the sales amounted to €9 billion, showing a • 43% a neutral recommendation, 11 capital goods sector in particular, with substantial increase of 12%. > 20 JANUARY 2009 • and only 5% a negative recommendation. Buy concerns about a potential decrease in The Group’s operational performance First 9 months orders and future demand. sales for fiscal year 2008/09 continued to improve with the operating “WE ARE CONFIDENT But is it not a paradox to see the Company’s margin reaching 7.8% compared to 7.2% last > 24 MARCH 2009 value reduced by a quarter over the month year. As a result of this improvement and the Source Alstom based on analyst reports received as of end of October 2008. TO BE ABLE TO PURSUE Information meeting of October while Alstom is delivering healthy positive financial income, the net profit in Strasbourg, France figures for the first half of the current fiscal increased by 36% at €527 million. OUR STRATEGY year? > 5 MAY 2009 Our financial situation has been further COMBINING GROWTH Even if no company can be fully immune strengthened by the generation of a high Annual results from a deterioration of its economic and free cash flow of €1.2 billion during this first for fiscal year 2008/09 Share AND PERFORMANCE commercial environment, Alstom benefits semester. We have a net cash position of > 23 JUNE 2009 IMPROVEMENT AND from strong assets which allow it to address €1.9 billion, twice the March 2008 level. the present uncertainties. Firstly, we have a Price We are confident to be able to pursue our Shareholders’ annual strong cash position and available bonding WE CONFIRM OUR strategy combining growth and performance general meeting lines. Our record high backlog provides us improvement and we confirm our operating OPERATING MARGIN with a much better visibility than other In euros - Base €24.36 as of 2 January 2006 margin estimate for March 2010 at around companies and will give us time to adapt to 100 9%. Simultaneously, we are taking the ESTIMATE FOR a downturn in demand if any. In addition, ALSTOM necessary steps to monitor the evolution of most of our customers are financially very CAC 40 MARCH 2010 our economic and commercial environment 80 strong and thus less exposed to credit and will be as reactive in the future as we Share AT AROUND 9%” limitations. And, importantly, the long term have been in the past. 60 drivers of our markets both in power information generation and rail transportation remain I thank you for your support and trust during solid, financial crisis or not. this challenging period. 40 Place of Listing: Euronext But let’s come back to the results of the first Paris – Compartiment A half 2008/09 which illustrate once again the 20 success of our strategy of profitable growth. ISIN code: FR0010220475 Mnemonic: ALO 0 Patrick Kron Index: CAC40 Jan. 06 July 06 Jan. 07 July 07 Jan. 08 July 08 March 06 May 06 Sept. 06 Nov. 06 March 07 May 07 Sept. 07 Nov. 07 March 08 May 08 Sept. 08 Nov. 08 Chairman & CEO Eligible for PEA: yes Eligible for differed settlement On 22 September, the Alstom share has been added to the Dow Jones Euro Stoxx 50 index, service: yes which includes the euro zone’s top 50 market capitalisations. Orders Sales Income from Net Free CONTACTS received operations result cash flow ALSTOM By telephone: By e-mail: € 15.4 €9 € 697 € 527 € 1.2 Investor Relations In France, a free-phone number is available [email protected] billion billion million million billion to shareholders from Monday to Friday, up by 20% up by 12% up by 22% up by 36% By post: 9am to 7pm: Internet: 3, avenue André Malraux 0 800 50 90 51 www.alstom.com 92309 Levallois-Perret Cedex France From abroad: +33 (0)1 45 30 85 75* * Calls to this number will be charged at your operator’s standard international rate. Design and layout: Franklin Partners, Paris. Photography Credits: Phototèque ALSTOM, X. Phototèque ALSTOM, Paris.Credits: Partners, Photography Design and layout: Franklin 300127_ALSTOM_LAA_nov08_UK.indd 1-2 7/11/08 11:14:29 NEWS FOCUS ON Alstom Let’s team up in Russia for the planet Power generation and rail In November 2007, the Group transport are two priority created the Alstom Corporate sectors for Russia. Foundation for the Environment. Alstom has been present in this country since With a yearly budget of one million euros, this 1975 and intends to strengthen its activity foundation aims to support projects linked to > SITE VISITS through strategic partnerships with local the protection of the environment. On 1st October 2008, around 30 share- companies. The projects are put forward by employees of holders visited the Alstom site at Aytré-La the Group and developed in partnership with Rochelle. This is the centre of excellence In nuclear, the Group signed in 2007 a major local or national organisations. • the building of a bridge across river Cenranae, for high-speed and very high-speed strategic partnership with Atomenergomash Last September, the foundation’s Board of Indonesia, to facilitate the mobility of the trains, and notably where the TGV Duplex to jointly meet the growing demand in nuclear Directors selected the first 11 projects to be Sengkang’s population; is constructed. From now on it will also power plants in Russia. supported, which included: • the supply of solar panels to “Nazareth be responsible for the design and building Homes”, housing for mentally handicapped of the fourth generation of very high- Within this framework agreement, a joint • the creation of a National Park in the Yunnan Renovation persons in Florida, USA; speed train, the AGV. The visit started venture, Alstom Atomenergomash LLC, has Province of China; • an environmental education programme for with a presentation of the Group and of generators been created to provide conventional islands • the design and construction of an “ecological” children from underprivileged communities in the activities of the Transport Sector. for nuclear power plants built in Russia. orphanage in India; at EDF nuclear South Africa. The shareholders then visited the work- • a plantation of 40,000 mangrove trees in the shops, where they discovered the plants in France Alstom Atomenergomash LLC has won its first Philippines; assembly lines of both the TGV Duplex engineering contract on the turbine islands, • a training programme on protecting the Alstom has signed a 10-year framework and the Citadis tramways. based on the Alstom’s Arabelle technology, for environment for handicapped youngsters in agreement, totalling over €140 million, the Seversk plant in Siberia. Argentina; If you would like to participate in one with the French utility company EDF for of our future site visits, please do not the renovation of 900 MW and 1,300 MW In the field of rail transport, Alstom signed hesitate to contact us. generators in its nuclear power plants. a contract in September 2007 to supply RZD. This memorandum provides for technical Power Service Sector teams, which have Pendolino high speed trains to operate cooperation between the two firms and the unique expertise in equipment mainte- > INFORMATION between Saint-Petersburg and Helsinki in possibility for Alstom to buy a 25% stake in nance for nuclear power plants, will 2010. These trains will allow the journey time TMH equity. MEETINGS provide comprehensive project manage- between these two cities to be reduced from ment, including conceptual design, part Since the beginning of 2008, Alstom has 5.5 hours to 3 hours. In addition, Alstom and TMH have decided supply and site work. The first generator met with individual shareholders at a to create a joint venture, known as TMH- rewinds are planned for 2010 at the regional level. The Group has parti- More recently, Alstom also signed a Alstom DV, in order to respond to a call for Belleville and Chooz nuclear power cipated in meetings organised by the memorandum of understanding with Russian tenders launched by Russian railways (RZD) plants. French Federation of Investment group Transmashholding (TMH), the main for double-deck passenger cars. Clubs (Fédération Française des Clubs Through this contract, EDF demonstrates supplier of the Russian rail transport operator, d’Investissement) and CLIFF (the French its confidence in Alstom, recognising the Investor Relations association) in Group’s skills and expertise in nuclear Marseille and in Rennes. power services. NEWS NEWS THE FIRST CARBON CAPTURE PILOT UNIT IS PUT SUPPLIER OF THE YEAR INTO OPERATION German rail operator Deutsche Bahn (DB) standing of customers goals and expectations. The first carbon capture pilot plant based on oxy-combustion gas recovery and storage at Altmark, the second largest gas field named Alstom its “supplier of the year” in This award was also a tribute to the work technology developed by Alstom was put into operation in Germany in Europe.
Load more

Recommended publications
  • THE RESCUE of ALSTOM Patrick Kron
    http://www.ecole.org Seminar Business Life THE RESCUE OF ALSTOM Organised thanks to the patronage of the following companies : Air France Algoé2 by Alstom ANRT ArcelorMittal Patrick Kron Areva2 Cabinet Regimbeau1 Chairman and Chief Executive Officer, Alstom Caisse des Dépôts et Consignations CEA Chaire “management de l’innovation” de l'École polytechnique December 7th, 2007 Chambre de Commerce et d'Industrie de Paris Report by Thomas Paris CNRS Translation by Rachel Marlin Conseil Supérieur de l'Ordre des Experts Comptables Danone Deloitte École des mines de Paris Overview EDF Entreprise & Personnel In 2003, Alstom was on the verge of bankruptcy. How could an ESCP-EAP Fondation Charles Léopold Mayer international, industrial company, more than a hundred years old, pour le Progrès de l'Homme have reached such a position in a rapidly expanding market ? What France Télécom FVA Management was the way out of this situation ? Alstom’s difficulties were the Roger Godino result of a combination of four factors : a technical problem, an Groupe ESSEC HRA Pharma inadequate operational performance, an impossible financial IDRH 1 situation, and the temporary collapse of its most important market. IdVectoR La Poste A rescue operation was hampered because these four factors had to Lafarge be handled simultaneously and the various bodies involved, Ministère de l’Industrie, direction générale des Entreprises including banks, shareholders, clients and employees had to be Paris-Ile de France Capitale Economique convinced that there was a future for Alstom, in spite of feelings of PSA Peugeot Citroën Reims Management School pessimism and general distrust. Acting as a catalyst, the French Renault state took on the challenge of making a successful last-ditch Saint-Gobain Schneider Electric Industrie attempt to turn the company around.
    [Show full text]
  • Compte Rendu Mardi 27 Septembre 2016 Commission Séance De 13 Heures 45 Des Affaires Économiques Compte Rendu N° 105
    Compte rendu Mardi 27 septembre 2016 Commission Séance de 13 heures 45 des affaires économiques Compte rendu n° 105 – Audition de M. Henri Poupart-Lafarge, président-directeur général d’Alstom .......................................................................... 2 SECONDE SESSION EXTRAORDINAIRE DE 2015-2016 Présidence de Mme Frédérique Massat, Présidente — 2 — La commission a procédé à l’audition de M. Henri Poupart-Lafarge, président-directeur général d’Alstom. Mme la présidente Frédérique Massat. Nous auditionnons aujourd’hui M. Henri Poupart-Lafarge, président-directeur général d’Alstom, que je remercie d’avoir répondu assez rapidement à notre demande, comme il le fait habituellement et comme l’ont fait ses prédécesseurs. La commission des affaires économiques suivant les questions industrielles, elle a eu l’occasion au cours des années passées de procéder à différentes auditions – notamment en 2014 et 2015 dans le cadre du rachat des activités « énergie » d’Alstom par General Electric. En mai 2014, elle a ainsi entendu les dirigeants de Siemens France et de General Electric, deux candidats à ce rachat. Nous avions ainsi organisé plusieurs auditions de votre prédécesseur, M. Patrick Kron, la dernière datant du mois d’avril 2015. Chacune d’entre elles a été accompagnée de l’audition des ministres chargés du dossier et d’une table ronde réunissant les syndicats concernés. Nous sommes dans le même schéma aujourd’hui : après l’audition de ce jour, nous entendrons le secrétaire d’État Christophe Sirugue la semaine prochaine sur ce dossier. D’ici là, un certain nombre d’annonces auront été faites, compte tenu du travail de concertation actuellement mené entre l’entreprise et le Gouvernement.
    [Show full text]
  • Registration Document 2018/19 Table of Content
    REGISTRATION DOCUMENT 2018/19 TABLE OF CONTENT DESCRIPTION CORPORATE 1 OF GROUP ACTIVITIES AFR 3 5 GOVERNANCE 151 Industry characteristics 4 Board of Directors’ report AFR Competitive position 7 on corporate governance 152 Strategy 7 Executive Committee 190 Offering 8 Interests of the officers and employees in the share capital AFR 192 Research and development 16 Statutory Auditors’ special report Siemens Alstom combination project 19 on related-party agreements and commitments 200 MANAGEMENT REPORT Statutory Auditors AFR 204 2 ON CONSOLIDATED FINANCIAL STATEMENTS, SUSTAINABLE DEVELOPMENT: AS OF 31 MARCH 2019 AFR 21 6 CORPORATE SOCIAL AFR Main events of year ended 31 March 2019 22 RESPONSABILITY 205 Commercial performance 23 Extra-Financial Performance Declaration 206 Orders backlog 25 Methodology 252 Income statement 26 Report by one of the Statutory Auditors, Free cash flow 28 appointed as an independent third party , on the consolidated human resources, environmental Net cash (debt) 29 and social information included in the Equity 29 management report 254 Non-GAAP financial indicators definitions 30 Additional information for stakeholders 256 Synthesis of indicators / Key figures 2018/19 267 FINANCIAL 3 STATEMENTS AFR 33 ADDITIONAL Consolidated financial statements 34 7 INFORMATION 271 Statutory Financial Statements 109 Information on the Group AFR Other financial information and the parent company 272 relating to Alstom SA 126 Information on the share capital AFR 277 Simplified organisation chart RISK FACTORS, INTERNAL as of 31 March 2019 290 4 CONTROL AND RISK Information on the annual financial report 292 AFR MANAGEMENT AFR 129 Information on the Registration Document 293 Table of reconciliation 294 Operational and strategic risks 130 Legal & regulatory risks 143 Financial risks 145 Risk control environment 146 AFR The Content of the Annual Financial Report is identified in the summary table with the help of this pictogram.
    [Show full text]
  • Mise En Page 1
    In this edition Chairman’s message — Key figures — Focus on… — Site Visits — Cooperation — Did you know? — Shareholder Information — Focus on shareholding — Diary — Contacts November 2006 Letter to shareholders & you Dear Shareholders, To face our strong commercial activity, an active management of human resources ALSTOM has achieved a strong perfor- has been implemented. 1,900 engineers mance during the first half 2006/07. The and managers have been recruited over level of orders registered over the period the Sectors in the past six months, mainly has been remarkably high, up 46%, as we in Asia and in Europe, accompanied with have managed to take advantage of reinforced training programmes. favourable market conditions in power. Sales, at €6.6 billion, increased by 8% The recovery of orders taken in the last compared to the first half of last year, driven years coupled with a record level of orders by the turnover growth in Power Turbo- received during this first semester should ᵬ We expect the Systems / Power Environment (+21%), translate into sales growing by more than reflecting the continuous increase in order 10% over the current fiscal year. The operating margin intake in this Sector over the last semesters. operating margin should continue to The continuing selectivity in contracts, strict improve in the second half of 2006/07 to exceed our management of our costs and improved and we expect it to exceed our previous project execution have contributed to an target of 7% for the full year 2007/08. previous target operating margin of 6.3% in the first half ALSTOM has now decisively entered into a 2006/07, compared to 5.3% during the new phase of profitable growth, that our of 7% for the full same period last year.
    [Show full text]
  • Inauguration Du Korea Train Express KTX En Corée Du Sud ______30 Mars 2004
    __________________________________________________________________________________________ Inauguration du Korea Train eXpress KTX en Corée du Sud __________________________________________________________________________________________ 30 mars 2004 SOMMAIRE Communiqué de synthèse : un transfert technologique et de savoir-faire sans précédent Le KTX : 412 kilomètres de ligne nouvelle à grande vitesse pour plus de 35 millions d’habitants Un corridor ferroviaire Séoul-Pusan (Busan) arrivant à saturation Une ligne nouvelle à grande vitesse et des lignes classiques électrifiées et modernisées Les compétences ALSTOM au service du KTX : l'intégration du système Le transfert des compétences du groupe SNCF au Korea Train eXpress KTX SYSTRA SNCF International AREP Les rames à grande vitesse KTX La ligne à Grande Vitesse Sud-Coréenne Les grandes étapes du projet Données Techniques Le financement du projet KTX Les acteurs du projet La « Korean National Railroad – Korail » en quelques chiffres Les chiffres insolites du projet Contact Presse : SNCF - Direction de la Communication ALSTOM Philippe Mirville Séverine Gagneraud Tél : 01 53 25 63 29 Tél : 01 47 55 25 87 e-mail : [email protected] [email protected] SNCF – Direction du Développement International Gilles Tourvielle Marianne Azoulay-Burtin Tél : 01 47 55 23 15 Tél : 01 53 25 82 79 e-mail : [email protected] e-mail : marianne.azoulay-burtin@sncf .fr Inauguration du KTX en Corée – 30 mars 2004 Page 1 __________________________________________________________________________________________
    [Show full text]
  • Compte Rendu
    A S S E M B L É E N A T I O N A L E X V e L É G I S L A T U R E Compte rendu Mercredi 29 novembre 2017 Commission d’enquête Séance de 17 heures chargée d’examiner les décisions de l’État en matière de politique industrielle, au regard des Compte rendu n° 2 fusions d’entreprises intervenues récemment, notamment dans les cas d’Alstom, d’Alcatel et de STX, ainsi que les moyens susceptibles de protéger nos fleurons industriels nationaux dans SESSION ORDINAIRE DE 2017-2018 un contexte commercial mondialisé – Audition, sous forme de table ronde, de M. Claude Mandart, délégué syndical central CFE-CGC d’Alstom France, de M. Jean-Louis Profizi, secrétaire CFE-CGC du comité central Présidence d’entreprise Alstom Transport, de M. Gérard Mardiné, secrétaire national CFE-CGC, de M. Patrick de Cara, délégué de M. Olivier Marleix, syndical CFDT de l’établissement Oméga de Saint-Ouen d’Alstom Transport, de M. Laurent Desgeorge, délégué Président syndical central CFDT d’Alstom Transport et secrétaire de l’Inter CFDT Alstom, de M. Philippe Pillot, délégué syndical central FO d’Alstom Transport, de M. Vincent Jozwiak, représentant FO au comité central d’entreprise d’Alstom Transport et délégué de l’établissement de Petite-Forêt (près de Valenciennes), de M. Charles Menet, représentant syndical FO au comité central d’entreprise d’Alstom Transport, de M. Hervé Fillhardt, délégué syndical FO du site de Reichshoffen, de M. Fabrice Cotrel délégué syndical FO du site de La Rochelle/Aytré, de M.
    [Show full text]
  • Combined Annual General Meeting
    COMBINED ANNUAL GENE R AL MEETING Thursday 29 April 2010 at 3.30pm (CET) at Challenger, 1 avenue Eugène Freyssinet, 78280 Guyancourt, France Contents page Message from the Chairman ................ 3 The Bouygues group in 2009 ............... 4 Agenda ............................................. 10 Draft resolutions................................. 12 Information concerning the candidates for the Board of Directors ................... 22 Participation in the Combined Annual General Meeting ....... 28 Request for documents and information.................................. 29 Me s s a ge from the Chairman 2009: A SOLID PERFORMANCE, YET AFFECTED BY THE CRISIS STRONG ASSETS FOR 2010 Bouygues posted a solid performance in 2009, despite the crisis, and exceeded its objectives. Sales declined by 3% to €31.4 billion, operating profit by 16% and net profit by 12%. However, a sharp drop in net debt, a halving of net gearing and an increase in free cash flow reflect a very healthy financial structure. Bouygues Construction reported a very slight increase in sales, up 0.5%, and operating margin, up 0.3 points. Net profit, down 19%, was hit by lower interest rates despite a sharp rise in the net cash position. The order intake was equivalent to a year's sales. Bouygues Immobilier adapted to market conditions. Sales rose 2%, driven by buoyant residential property activity. Net profit rose 5% and the company again posted a net cash surplus. Colas stood up well to difficult market conditions, marked by falling demand, the postponement of stimulus plans, lower bitumen prices and fierce competitive pressure. In this context, sales were down 9% and net profit 21%. TF1 confirmed its position as France's most-watched TV channel, with high audience ratings in a difficult economic, regulatory and competitive environment.
    [Show full text]
  • A World to Conquer for French Technology
    NuclearNuclear Special special Titel A world to conquer for French technology As the main shareholder in the leading companies in the nuclear industry, the French government calls the nuclear shots, even appointing the managers at the top nuclear companies. President Nicolas Sarkozy’s strategy is to ‘conquer the world’ with French nuclear technology. | by Yves de Saint Jacob At 9 p.m. on January 29, a short statement Italian utility Enel, standing on a stage director Patrick Kron is here too. He has is made from the Elysee Palace, the seat of decked out with the French tricolour and never disguised his wish to merge with (or the French presidency. President Sarkozy the European Union fl ag, Sarkozy spells swallow up) Areva, which doesn’t exactly announces the imminent construction of out the main points in France’s energy make him Anne Lauvergeon’s favourite a second EPR (European Pressurised Water strategy. ‘There is a world to conquer’, companion. In addition, the audience Reactor), the third generation nuclear he announces, confi rming the revival of includes engineers from the nuclear reactor of original French-German design. nuclear power in France. industry and the workers, along with It will be built at Penly in Normandy. The Looking on are EDF managing director their union representatives. In France, the project will be run by EDF, the French Pierre Gadonneix and Anne Lauvergeon, powerful CGT union has always been a public electricity supplier. GDF-Suez, chairwoman of Areva, the company which part of the “nuclear family”. This kind of get-together is enough to make the hair of the civil servants in Brussels It was important to demonstrate to the outside stand on end.
    [Show full text]
  • Alstom Ou L'histoire D'une Faillite Industrielle À La Française
    Alstom ou l’histoire d’une faillite industrielle à la française mediapart.fr/journal/france/130916/alstom-ou-l-histoire-d-une-faillite-industrielle-la-francaise Alstom est-il appelé à devenir le dossier industriel de l’élection présidentielle, comme Florange le fut en 2012 ? La précipitation avec laquelle le gouvernement a réagi à l'annonce de la fermeture du site de Belfort, siège historique du groupe ferroviaire, d’ici à 2018, prouve que la crainte est réelle. Depuis que la direction d’Alstom a annoncé son intention de transférer toutes les activités de l’usine de Belfort vers celle de Reichshoffen, faisant peser une menace sur 450 emplois directs et 1 200 emplois indirects dans la ville, c’est le branle-bas de combat au gouvernement. Une réunion de crise a été convoquée à l’Élysée aux premières heures du lundi 12 septembre pour examiner l’avenir du groupe ferroviaire. « Le président de la République nous a fixé un objectif, celui de faire en sorte qu'à Belfort les activités ferroviaires d'Alstom soient maintenues », a déclaré le ministre de l’économie et des finances, Michel Sapin, à l'issue de la réunion. Des réunions de concertation sont prévues avec les syndicats, la direction, les élus, pour étudier les mesures possibles pour assurer un plan de charge à Belfort. Lundi après-midi, François Hollande a profité d’une visite dans un centre de formation dans les Yvelines pour revenir sur le cas Alstom. « J’ai donné cette direction : nous devons nous mobiliser pour qu’il y ait plus de commandes qui soient apportées […] Il faut se mobiliser aussi pour défendre notre industrie […].
    [Show full text]
  • How Are Banks Responding to the Crisis in Terms Of
    INFO ... 2010 / 2011 T � : P K H A A K CEO of Alstom, addresses President of CBI at the on the 1.5 Billion treasure trove Chamber’s Dîner de la Rentrée Annual Financial Lunch P G A K ESCP Europe comes top in What they mean for businesses Turning the World upside down FT rankings AFRANCE_INFO_AD.eps 10/11/09 11:40:14 There for when ‘if’ becomes ‘when’ C M Y CM MY At AXA we have alwaysCY believed that being there CMYfor our customers when they need K us most is the best way to build a strong financial business. We’re in the process of redefining every product and service we have to better serve our customers and to continue to deliver on our promises. So when the moment comes that we have to act on them, whether as a wealth management partner, an insurer, or as a healthcare provider, we’re always ready to show that actions speak louder than words. B,)%(&20(6:+(1B;LQGG Arnaud Vaissié President, French Chamber of Commerce in Great Britain, editorial and Chairman & CEO, International SOS elations between Britain and France are as warm as they have ever been. The meeting R and subsequent accord between the President of France and the British prime minister at the beginning of November was smoothly and effectively choreographed. The highlight and the most encouraging announcement was of course on defence, where the two countries are pooling resources in the interest of saving costs. That is a requirement for both countries and much will be achieved.
    [Show full text]
  • Pourquoi Voter ?
    3€ N°42/MAI 2014 EUROPÉENNES FRONTiDE GAUCHE POURQUOI VOTER ? ENTRETIEN AVEC MYRIAM MARTIN Les Éditions Regards 5, villa des Pyrénées, 75020 Paris 09-81-02-04-96 SOMMAIRE N°42 [email protected] Direction p.4 Autoportrait Clémentine Autain & Roger Martelli Directeur artistique Liêm Hoang Ngoc Sébastien Bergerat - [email protected] Comité de rédaction p.6 Dossier Benoît Borrits, Sophie Courval, Guillaume Liégard, Européennes pourquoi voter ? Roger Martelli, Aline Pénitot, Emmanuel Riondé, Catherine Tricot, p.22 Isabelle Lorand Nathanaël Uhl Secrétariat de rédaction Nous voilà deux ans après Sophie Courval Administration et abonnements p.24 Alstom Karine Boulet - [email protected] Ce que propose la CGT Comptabilité [email protected] Publicité p.34 Essai Comédiance - BP 229, 93523 Saint-Denis Cedex La grande bifurcation, Scop Les Éditions Regards Directrice de la publication imaginer l’après et gérante Clémentine Autain néo-libéralisme p.36 Sur un plateau Les effets de plateau de Montebourg et du PDG d’Alstom p.46 Bernard Hasquenoph Jaurès n’est pas mort ÉDITO DU BROUILLAGE À LA refondation François Hollande fête ses deux années de mandat dans un climat de sidéra- tion à gauche et de colère sourde dans son électorat. L’abstention massive aux élections municipales, et singulièrement à gauche ce qui a permis les victoires de la droite, exprime la rancœur du moment. D’alternances en alternances, rien ne change, rien ne s’améliore, tout se détériore d’un point de vue économique, démocratique, social, écologique. Les repères idéologiques sont brouillés par ce gouvernement qui se dit de gauche mais qui mène une politique de droite.
    [Show full text]
  • International Railway Journal
    DecCover:Layout 1 18/11/2015 2:56 PM Page 1 City centre revival Plastic fantastic Tomorrow’s world Helsinki’s ambitious plan Synthetic sleepers still New affordable elevated to halt urban sprawl performing after 30 years system targets congested cities December 2015 I Volume 55 Issue 12 www.railjournal.com IRJInternational Railway Journal Peru’s peak performer DecCover:Layout 1 18/11/2015 2:56 PM Page 1 City centre revival Plastic fantastic Tomorrow’s world Helsinki’s ambitious plan Synthetic sleepers still New affordable elevated to halt urban sprawl performing after 30 years system targets congested cities December 2015 I Volume 55 Issue 12 www.railjournal.com IRJInternational Railway Journal Peru’s peak performer IRJDECXX (Plasser):Layout 1 05/11/2015 16:36 Page 1 HOCHLEISTUNG I PRÄZISION I ZUVERLÄSSIGKEIT HIGH CAPACITY I PRECISION I RELIABILITY High-speed lines require increasing precision although less and less time is available for track maintenance. Plasser & Theurer - the partner for The basis of high performance railways around the world - meets these high demands by using the most up-to-date track maintenance technology. More than high-speed lines sixty years of experience, innovative know-how and the resulting outstanding quality have produced more than 15,600 Plasser & Theurer track maintenance machines supplied to 109 countries throughout the world. www.plassertheurer.com ”Plasser & Theurer“, ”Plasser“ and ”P&T“ are internationally registered trademarks Dec Contents:Layout 1 18/11/2015 3:07 PM Page 3 Contents December 2015
    [Show full text]