ERAMET Group: SLN performance plan strengthened in New Caledonia
(Thomson Reuters ONE) -
Paris, September 8(th), 2017, 6:30am
PRESS RELEASE
ERAMET Group: SLN performance plan strengthened in New Caledonia
ERAMET announces a project to strengthen the performance plan for its subsidiary
Société Le Nickel (SLN) in New Caledonia.
In the context of a changing global nickel industry, considering that the 4.5
USD/lb target set for the end of 2017 is essential but not sufficient to
guarantee the company's long-term future during cycle troughs, a new cash cost
target has been set at 4.0 USD/lb by the end of 2020.
An in-depth analysis of costs at SLN and its principal competitors shows that
the two main shortfalls are productivity on one hand and energy costs on the
other. The intended plan is, therefore, based on new actions designed to:
* Raise the company's productivity through measures to increase work time and
overhaul organisations.
* Reduce SLN's energy bill, currently the industry's highest, through measures
on energy efficiency and the revision of electricity prices. These actions
will be carried out independently of progress on the new electricity plant
project led by New Caledonia, which is not expected to contribute until
2022.
On September 7(th), SLN's Board of Directors approved these measures to
strengthen the performance plan, which will enable SLN to improve its
competitiveness on a structural basis, the only way to guarantee the activity's
long-term future on a demanding, competitive market.
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ABOUT ERAMET
ERAMET is one of the leading global producers of:
* alloying metals, particularly manganese and nickel, used to improve the
properties of steel,
* as well as high-performance special steels and alloys used in industries
such as aerospace, power generation and tooling.
ERAMET is also developing activities with high growth potential, such as mineral
sands (titanium
dioxide and zircon), lithium and recycling.
The Group employs nearly 13,000 people in around 20 countries.
CONTACT
Vice President Strategy and Financial Communication
Philippe Gundermann - Tel: +33 (0)1 45 38 42 78
Strategy and investor relations managers
Ludovic Donati - Tel: +33 (0)1 45 38 42 88
Arthur Perroton - Tel: +33 (0)1 45 38 37 32
Find out more: www.eramet.com
Follow us with the ERAMET Finance app:
IOS: https://itunes.apple.com/fr/app/eramet-finance/id1115212055?mt=8
Android: https://play.google.com/store/apps/details?id=com.eramet.finance
SLN performance plan strengthened in New Caledonia:
http://hugin.info/143395/R/2132297/814898.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Groupe Eramet via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 08.09.2017 - 06:30 Uhr
Sprache: Deutsch
News-ID 559237
Anzahl Zeichen: 3670
contact information:
Town:
Paris
Kategorie:
Business News
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"ERAMET Group: SLN performance plan strengthened in New Caledonia"
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