Boskalis, Bouygues, Saipem JV to Build Fécamp OWF GBS
A consortium of Bouygues, Saipem, and Boskalis has been awarded the contract for design, construction, and installation of 71 concrete Gravity-Based Structures (GBS) which will serve as foundations for the Fécamp offshore wind farm turbines in Normandy, France. The award was made by Eoliennes Offshore des Hautes Falaises (EOHF), following the launch of the $2,2 billion offshore wind project by EDF Renewables, Enbridge, and wpd on Tuesday.The contract carries a total value of EUR 552 million (USD 616 million).
BOURBON Completes Mooring Installation at FLOATGEN
Earlier this month, BOURBON completed the mooring installation of the first floating wind turbine in France for Ecole Centrale de Nantes (ECN) as part of the European project FLOATGEN* at the SEM-REV experimental test site, off Le Croisic. The innovative mooring system using synthetic mooring lines was designed and developed by Ideol team. Significant resources, including an Anchor Handling Tug Supply (AHTS) vessel with a WROV, were required for its installation conditioned by high tensions.
Oil Falls on Fading Supply Freeze Prospects
Oil dips as expectations of steps to curb supply fade. Oil prices hit one-month lows as prospects of top exporters agreeing to curb chronic oversupply faded, while other commodities also lost ground as the dollar steadied after Friday's strong U.S. data. Wall Street looked set to open higher, according to index futures , after shares rose sharply in Europe and modest gains in Asia. Brent crude, the international benchmark, fell as far as $38.18, its lowest since March 4, before recovering to trade up 18 cents at $38.85.
Iran's Rouhani in Paris to Revive Business Ties
Iran's President Hassan Rouhani arrives in France on Wednesday with the bosses of oil major Total and aircraft maker Airbus among top executives he is due to meet as the two countries look to revive business ties despite diplomatic differences. On his first trip abroad since a sanctions-ending nuclear accord took effect, Italy this week already rolled out the red carpet for the pragmatist Shi'ite president and his 120-member delegation of business leaders and cabinet ministers, signing a raft of deals.
Ivory Coast's Power Firm CIE 2014 Net Profit Down
Ivory Coast power utility CIE's full-year net profit fell slightly to 8.27 billion CFA francs ($13.5 million) last year compared with 8.28 billion CFA francs the previous year, the company said on Wednesday. Turnover rose to 439.4 billion CFA in 2014 compared with 372.6 billion the previous year, the company, partly owned by French industrial group Bouygues, said in a statement published on the website of the West African regional bourse. Reporting by Loucoumane Coulibaly
Ocean Installer Enters Australian O&G Market
Ocean Installer’s said that it has established office in Perth, Australia to meet demand for subsea construction services. “This is the beginning of our presence in another promising region in line with Ocean Installer’s growth strategy. The Asia Pacific- and Oceania region represent significant growth opportunities in the years ahead,” said Steinar Riise, CEO, Ocean Installer. Ocean Installer recently hired Bijan K. Mahapatra to lead the office in Australia. Mahapatra has…
Alstom Workers Relieved as GE Wins Takeover Bid
For Alstom workers in eastern France, news that General Electric has beaten rival bidder Siemens to a tie-up with their firm has brought relief and a response perhaps best summed up by the saying "better the devil you know". In the town of Belfort, some 2,500 Alstom employees have worked for more than a decade building electrical turbines just a few dozen metres (yards) away from a GE plant, whose workers they meet each day at lunchtime in a shared canteen. While French Economy…
France Picks: GE is the One for Alstom
France chose General Electric to form an alliance with Alstom on Friday - rejecting an offer from Siemens and Mitsubishi Heavy Industries - but said the deal still needed some work and added it would buy a 20 percent stake in the hotly-contested company. Economy Minister Arnaud Montebourg said he had used a newly- created state decree to reject both of the existing offers as not being in France's strategic interest, and had formulated fresh demands to GE Chief Executive Jeff Immelt.
French Govt to Work with GE on New Alstom Plan
French Economy Minister Arnaud Montebourg said neither the General Electric (GE) offer or the joint Siemens-Mitsubishi Heavy Industries offer for Alstom power assets had met the government's demands, but that France would work with GE on defining a new proposal. "The Siemens-MHI offer was serious but the government has made up its mind," Montebourg told a news conference. The French state would purchase a 20 percent stake in Alstom from main shareholder Bouygues at market price, he said, adding that it was vital that key decision-making centres of the group would remain in France.
Siemens, Mitsubishi Challenge GE with Alstom Offer
Germany's Siemens and Japan's Mitsubishi Heavy Industries presented a joint offer to France's Alstom on Monday that included 7 billion euros ($9.5 billion) in cash, challenging a bid by General Electric. Under the deal, Siemens offered to buy Alstom's gas turbines business for 3.9 billion euros in cash, and MHI to buy stakes in Alstom power assets including hydroelectric power equipment and grid, to be held in separate joint ventures. MHI would inject 3.1 billion euros in cash into Alstom and offer to take a stake of up to 10 percent in the French firm from shareholder Bouygues.
Mitsubishi, France could take equal stakes in Alstom
Mitsubishi Heavy Industries and the French government would take equal stakes in Alstom as part of a rival offer to that of General Electric, a trade union representative said following a meeting with economy minister Arnaud Montebourg. "The minister described Mitsubishi's offer...Clearly, this is an alliance scheme that counters GE's proposal," said Gabriel Artero, CFE-CGC representative of France's steelworkers federation. "The state and Mitsubishi would take joint and equal stakes in Alstom…
Mitsubishi Mulls Stake in Alstom
Japan's Mitsubishi Heavy Industries is considering taking a direct stake in French engineering group Alstom as part of an offer with Germany's Siemens, two French newspapers said on Thursday. Financial daily Les Echos said Mitsubishi is considering buying part of French Bouygues's 29 percent stake in Alstom and would also buy Alstom's steam turbines while Siemens would take over its gas turbines. At a later stage, after an expected offer for Alstom on June 16, Siemens would contribute its transport assets to Alstom…
Bilfinger Wants Speedy Sale Of Construction Unit
German engineering and services group Bilfinger aims to sell its civil engineering division quickly and, at the same time, is open to acquisitions abroad, the chief executive of the company was quoted as saying on Saturday. The company is accepting expressions of interest and preparing the unit for sale, CEO Roland Koch told newspaper Die Welt, confirming a story published by Reuters on Friday. "We just launched the process," he said. Bilfinger wants to wean itself off a business…
GE Boss Faces Public Alstom Grilling in Paris
General Electric boss Jeff Immelt faces a public French parliamentary grilling in person on Tuesday over his high-stakes plan to buy the power arm of engineering group Alstom, replacing a subordinate at the last minute. A statement from the parliamentary economics committee late on Monday put Immelt on its agenda for Tuesday's hearing, which was scheduled originally last week with the head of GE France, Clara Gaymard, on the stand. Immelt is scheduled to speak in defence of his 12.35 billion euro ($16.9 billion) bid for Alstom's power arm at 1630 GMT…
Siemens And France Weigh In As GE Eyes Alstom Deal - Update
Siemens and the French government intervened in General Electric's plan to buy the power arm of Alstom on Sunday with an alternative European "champions" tie-up proposal and a pledge to act inFrance's national interest. Though French trains-to-turbines maker Alstom is privately owned, firebrand Economy Minister Arnaud Montebourg issued a stark reminder of the influence the government holds over a company that relies heavily on orders from state rail operator SNCF and partly state-owned utility EDF.
Siemens Weighs In As GE Prepares Alstom Power Deal
Alstom's arch rival Siemens wants talks with the struggling French engineering group, the German company said on Sunday, the day General Electric boss Jeff Immelt is due in Paris to thrash out a deal to buy Alstom's global power arm. Siemens said in a statement that it had written a letter to "signal its willingness to discuss future strategic opportunities" with the French group. France's government has said it wants to find alternatives to the GE offer, which sources say puts a value of $13 billion on the turbines and power grid equipment business and could be announced in days.
GE In Talks To Buy Alstom's Power Arm
U.S. industrial conglomerate General Electric Co is in advanced talks to buy the global power division of struggling French engineering group Alstom SA for about $13 billion, sources familiar with the matter said on Friday. Sources said a deal was backed by Alstom's main shareholder, French conglomerate Bouygues with 29 percent, and could be announced in the coming days after an Alstom board meeting on Friday afternoon. The board was due to meet again on Sunday to discuss the transaction, French daily Le Figaro said.
French foreign minister meets Raul Castro on historic visit to Cuba
France's foreign minister met with Cuban President Raul Castro on Saturday during the first visit to the island by such a high-ranking French official in 31 years and a sign of the quickening pace of improving ties between the European Union and Havana. Laurent Fabius said he discussed politics, human rights, market-oriented reforms in Cuba and bilateral relations in what he characterized as "a long conversation" with Castro. "We want to push forward our relations in the areas of culture…
