Senator (LR) of Yvelines, Sophie Primas chairs the Senate Economic Affairs Committee. She is also rapporteur for the work relating to the acquisition of Chantiers de l'Atlantique by Fincantieri.
On January 20, upstream from the Choose France summit, the Élysée Palace welcomed the order for two liners won by the Chantiers de l'Atlantique for nearly 2 billion euros. The executive was however careful not to recall that it intends to cede control of the historic French company to its Italian competitor Fincantieri before the end of 2020.
Thus, history repeats itself: after the sale of the energy branch of Alstom to General Electric, and the privatization project of Aéroports de Paris, it is the fate of another French industrial leader who decides to l shadow of ministerial cabinets, far from the eyes of the French and sheltered from public debate.
The Government neglects the prudence which is essential in the choice of the buyer, but also the elementary requirements of transparency and democratic accountability.Heirs to French civil shipbuilding, Chantiers de l'Atlantique has acquired almost unique know-how in the construction of large ocean liners. Their industrial activity, which irrigates the entire Pays de la Loire region, generates nearly 9,000 direct and indirect jobs. Their shape, the size of which is unequaled in Europe, also makes the Shipyards a key player in the construction of our aircraft carriers, and the Naval Group's partner in the manufacture of military ships.
The temporary nationalization of the shipyards, decided three years ago, has brought welcome stability to this company, which had three owners between 2006 and 2017. The readiness of the Government to resell this strategic site for industrial and maritime power once again French leads him to neglect not only the prudence which is essential in the choice of the buyer, but also the elementary requirements of transparency and democratic accountability.
While the selected buyer, the Italian group Fincantieri, resolutely engages in an in-depth partnership with the Chinese public construction giant, the Senate's Economic Affairs Committee questions the relevance of the choices made by the executive. By going to meet the French manufacturer, its employees and its local partners, we could only note the absence of adherence to the disposal project.
Even more alarming: despite repeated requests from the national representation, the Minister still refuses to communicate to him the precise conditions of the buyout agreement. To date, not even the minority shareholders of the Chantiers have been aware of its exhaustive content.
The state's inability to react to General Electric, which has reneged on its commitments after the takeover of Alstom, should serve as a lesson.However, it is essential to protect the interests of the Nation that solid safeguards are provided in the event of redemption. It is necessary to ensure the integrity of the French site, the maintenance of jobs, the local ecosystem, and above all to protect the unique know-how of the Shipyards from a transfer to its competitors. The state's inability to react to General Electric, which has reneged on its commitments after the takeover of Alstom, should serve as a lesson.
The conditions for the transfer of State shares must be set in full transparency. Last year, it was thanks to the mobilization of senators from all walks of life that the Government had finally communicated the specifications for the privatization of Aéroports de Paris. Since then, we have been able to see the result of such government forays, of strategic decisions taken behind closed doors, disconnected from the living forces of the territories. The same error cannot be repeated with the Chantiers de l'Atlantique.
The Senate intends to shed light on the operation to take over the Chantiers de l'Atlantique.The transparency imperative also relates to the enhancement of State shares, the heritage of all French people. It must take into account the excellent recent performances of the Shipyards, whose order book is full. The diversification of the company towards the promising segment of marine renewable energies, and its considerable investment in R&D, make it an attractive partner for other industrial players. Consequently, the sale price must be evaluated with prudence and accuracy.
The conclusion of the transaction is now suspended from the decision of the European Commission, which examines the takeover under European competition law. Whatever the outcome, the Senate intends to shed light on this operation, without excluding taking advantage of the special powers opened by the PACTE law if the government ignored the imperative of democratic transparency which is imposed on it.
