Business life

Usinor reaches European size

French companies
on show in Egypt

The French Budget 2000

Renault buys up Nissan

Voxan, the new French motorbike

Usinor reaches European size

The French metallurgy group Usinor is to take over the Belgian group Cockerill under the terms of an agreement signed with the Walloon authorities on February 9, 1999. Francis Mer, Chief Executive Officer (CEO) of Usinor, is taking every possible precaution to ensure the group’s Belgian identity is retained and to "coordinate its activities," as he puts it, "especially in the three core areas operating with global customers: automobile, household appliances and tinplate". The acquisition marks the completion of the development programme for the Group’s European facilities. Through its Spanish and Italian acquisitions, the Group is already in a position to supply the entire Mediterranean region. Now, with Cockerill in northern Europe, it can also service the Scandinavian markets, from which it had so far been excluded. Finally, Cockerill’s east German subsidiary, Eko Stahl, is to serve as a gateway to the markets of Germany and Eastern Europe.

French companies on show in Egypt

More than 180 French companies took part in "Francexpo 99", the largest French exhibition ever organised in Egypt, which was held in Cairo from May 2 to 6, 1999. The exhibition was officially opened by French Prime Minister Lionel Jospin. It provided an opportunity for French medium-sized companies to showcase their products and know-how in a variety of sectors and discover the Egyptian market, and for businessmen from both countries to establish contacts aimed at increasing joint investments.

The French Budget 2000

French Prime Minister Lionel Jospin has stated the government’s determination to reduce state expenditure for the year 2000. While spending is up 1% (above inflation) in the 1999 budget, it is not to rise by more than 0.2% in the year 2000 budget. Only the Ministries of the Environment, Justice and Education are to see increases in their spending allocations. This approach is designed to confirm to the European Commission that France is determined to pursue the measures aimed at reducing the public deficit.

Renault buys up Nissan

On March 27, 1999, Louis Schweitzer, CEO of Renault, and Yoshikazu Hanawa, CEO of the Japanese Group Nissan Motor, signed an agreement, in Tokyo, on a global partnership to help regulate Nissan’s financial situation and stimulate the growth of both partners. In buying up the Japanese car manufacturer, the French Group Renault not only takes up the most important challenge ever attempted by a French company, it also seals the biggest takeover of a Japanese company by a foreign group. Renault buys up Nissan. Together, Renault and Nissan will become the world’s fourth largest car manufacturers, with a market share of 9.1% and a production of 4.8 million vehicles a year. Together, the two companies hope to generate new synergetic effects and thereby cut costs estimated at FF 20 bn (3 bn euros*) over the period 2000-2002.

Voxan, the new French motorbike

Assembly work on the Voxan, the new French top-of-the-range motorcycle, began at Issoire, in the Puy-de-Dôme (Auvergne), on January 21, 1999. Besides the Roadster, a versatile "town and country" model targeted at the more mature biker and retailing for around FF 75,000.- (approx. 11,400 euros), the range also includes the Café Racer, a sports version somewhat reminiscent of the seventies models, and, soon, the Scrambler, the company’s "off-road" version. According to its CEO, Jacques Gardette, Voxan - the only motorbike manufactured in France - should achieve a production rate of 2,500 units in the year 2000. By 2003, the range should feature eight or nine models based around the same chassis and the same two-cylinder 1,000 cc V-shaped engine, with distribution in some thirty countries, essentially throughout Europe (UK, Germany, Italy).

* 1 Euro = 6.55957 French francs.