France nationalises shipyard for now to thwart Italian majority

Record ID: 904342

  • Title: France nationalises shipyard for now to thwart Italian majority
  • Date: 27th July 2017
  • Summary: SAINT-NAZAIRE, FRANCE (FILE) (REUTERS) HELICOPTER CARRIER IN PORT BUILT AT STX SHIPYARD FRENCH FLAG HELICOPTER CARRIER HULL OF SHIP READING (Russian) "VLADIVOSTOK" VARIOUS OF SAILORS BOARDING SHIP HELICOPTER CARRIER ON QUAYSIDE
  • Embargoed: 10th August 2017 16:27
  • Keywords: STX shipyard Italy France nationalisation industry Europe Le Maire
  • Location: PARIS, FRANCE/ SAINT-NAZAIRE, FRANCE
  • City: PARIS, FRANCE/ SAINT-NAZAIRE, FRANCE
  • Country: France
  • Topics: Government/Politics
  • Reuters ID: LVA0026RHUQ13
  • Aspect Ratio: 16:9
  • Story Text: French economy minister Bruno Le Maire announced on Thursday (July 27) France would temporarily nationalise the STX France shipyard to prevent an Italian firm taking majority control.
    The Italian state-owned shipbuilder Fincantieri rejected a French offer this week of 50-50 ownership of the shipyard, which is being sold because of the collapse of its South Korean parent, STX.
    The bid has raised fears in France about jobs at the Saint-Nazaire site, and the French government is also concerned about the strategic importance of the yard, the only one in France big enough to build aircraft carriers and other large warships.
    This marks Emmanuel Macron's first big industrial policy decision.
  • Copyright Holder: FILE REUTERS (CAN SELL)
  • Copyright Notice: (c) Copyright Thomson Reuters 2017. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
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