After weeks of uncertainty, the commercial court of Nanterre Friday authorized the takeover of courier Sernam into receivership on January 31 by Geodis, a subsidiary of SNCF. This is-of a partial recovery. Geodis and its subsidiary BMV disburse 750,000 euros to recover clients Sernam, or 200 million euros in turnover, and some employees of the courier company in bankruptcy.
Of the 1441 employees, 833 will join Geodis in their labor pool. SNCF will be offering for reclassification to another 600 employees Sernam which are not included. However, Geodis will recover almost none of the 55 logistics sites of the bankrupt or the 1300 delivery vehicles.
There is another week, the rescue of the company into bankruptcy by turning the fund Butler Capital Partners was far from certain. The subsidiary of SNCF had established conditions of occasions that it seemed difficult to respond positively. It took the mobilization of workers and a very high pressure, during the Easter weekend, Thierry Mariani, Minister of Transport, to push Pierre Blayau, CEO of Geodis, to be flexible to open the way for recovery.
Mobilizing ministers in recent months has, hitherto, to defuse these issues one to one industrial high-risk period for presidential elections. To achieve this, the government relied heavily on public enterprises. This is doubly the case of the SNCF. In the folder Sernam today. But before that, in January, she was involved in the liquidation of its subsidiary, SeaFrance and delivers more than 800 positions in rehabilitation and compensation of around 60,000 euros per employee not included, enough to silence anger.
No fire
In late February, EDF has rescued Photowatt and its 425 employees by announcing a full recovery in one of the few French players in the manufacture of photovoltaic panels. Renault owned 15% by the State, has agreed to secure the backlog of Foundries of Poitou.
The government has also convinced LVMH, the world of luxury, to mobilize one of its subcontractors to save a site in Yssingeaux Lejaby employing 93 employees. In other cases, governments have succeeded in obtaining respite. This is the case of the Petit Couronne refinery (Seine-Maritime), which employs 550 people payday loan companies. She was placed in receivership in late January for six months following the bankruptcy of its parent Swiss Petroplus which the owner, announced the closure. The liquidation was avoided. The deadline for submission of bids is 30 April, between the two rounds of presidential elections.
Another very sensitive site ArcelorMittal Florange. Employees rallied against the closure of the last two blast furnaces in Lorraine.
Nicolas Sarkozy announced in late February for new investment on the site and has led management to ensure that the closure was only temporary. The anger remains, but there was no fire. Three weeks before the second round, the government hopes that no other case does invite the end of this campaign.
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3 questions to Pierre Blayau, CEO of Geodis
What has allowed a resumption of Sernam while it seemed compromised last week?
We gave a period of five weeks before making the actual resumption. It was left to the attorney the time to organize the social aspect of this operation and for us to set up failover, including computers, Sernam to Geodis. Such a delay would pose a risk of deterioration of the financial position of Sernam. After discussion, earlier this week, with the receiver, we have agreed to reduce the actual recovery period to 21 days, May 7 We have been flexible to allow recovery.
One gets the feeling that Geodis is committed to backwards in this recovery?
Contrary to what I read or hear, Geodis has always been voluntary. This operation has a real industrial sense. We will grow in a highly competitive market. We take up staff and customers representing 200 million euros in turnover. We do not increase our fixed costs.
After the takeover by Mory Caravelle last year and now that of Sernam, market concentration French-mail is complete?
Even if there are fewer players, our market is still excess capacity. The process of concentration should therefore continue to favor companies that have a real performance culture.