EMCC European Monitoring Centre on Change



Geographic Location

Country: France
Region: Haute-Corse; Corse; Méditerranée


Sector: Transportation / storage
Transportation and storage
50 - Water transport
Number Employed: 2300
Group: Veolia

Employment Effects

Announcement Date: 21-03-2006
Planned Job Reductions min: 150
Planned Job Reductions max: 200
Type of Restructuring: Merger/Acquisition
Employment Effect Start: 31-03-2006
Foreseen End Date: 31-03-2007

Additional Information

In September 2005, the government’s total privatisation plan for the Ferry traqnsporter SNCM ran into opposition from the unions. However another dispute brought them back together, between 20 September and mid-October 2005, following the government’s announcement of the privatisation of the SNCM. Originally party to a plan to sell the entire company to an American investment group (Butler), the government ended up conceding an alternative way to distribute the SNCM’s shares: Butler will get a 38% stake; Connex (a subsidiary of Veolia environnement) will take a 28% holding and will operate the business; the State will keep 25%; the employees will get 9% of the capital, which means that the last two together retain a veto (EIRO Ref: FR0602101N)