In an interview with the “Figaro”, the minister of Economy stressed that the loan of 5 billion euros to save the builder has not yet been signed.
“Renault plays its survival,” and must commit, in particular on the retention in France of some of the activities, warned Bruno Le Maire in an interview with le Figaro published on Thursday evening, stressing that he had not yet given its green light to a loan of 5 billion euros to the manufacturer in distress.
“This loan, I have not signed yet,” explained the minister of Economy, asking the automakers to engage on three points, including “the location in France of their activities in technologically more advanced”.
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Renault, flagship French industrial group, is in a very bad situation, having seen its factories and its commercial network paralyzed by the crisis of the sars coronavirus and containment determined in particular in Europe, which have reduced the market of the nine 76.3% in April on the Old continent. The group at the diamond was already compromised before this episode, having suffered in 2019, its first net loss in ten years.
Create strategic plan
The French State, main shareholder of Renault, with 15% of the share capital, has agreed to fly to his rescue by guaranteeing a bank loan of approximately 5 billion euros, which was approved by the european Union. But it still has to be validated by Bruno Le Maire, and a decree published in the Official Journal.
The panel is expected to present Friday, may 29 its new strategic plan, and has already encrypted the necessary savings to 2 billion euros. This plan could include the closure of three plants of average size in France, as well as a reconversion of the industrial facility’s iconic Flins, in the Yvelines, near paris, according to le Canard Enchaîné, and a source close to the folder.
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If the constructor has not commented on this information, they have also raised an outcry, the Prime minister Edouard Philippe warning on Wednesday that the government would be “intransigent” on the preservation of the sites.
support Plan for the automotive industry
“We will continue our discussions in the framework of the support plan to the automotive industry,” said Bruno Le Maire, on Thursday evening, revealing that the plan, expected by the sector as a whole, would be announced next week by the president of the Republic.
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In this context, “we ask the manufacturers to make commitments in three directions: the electric vehicle, the compliance of their subcontractors and the location in France of their activities which is technologically the most advanced”, has detailed the minister. “All the aid that we provide to businesses should be oriented in these two directions: the décarbonation of the French economy and the improvement of its competitiveness”, he continued.
Three other threatened sites
in Addition to Flins, the concern is also three other sites of Renault, the smaller, threatened, according to le Canard Enchaîné. The factory of Choisy-le-Roi (Val-de-Marne) employs 263 people in the repair of engines and gearbox used as parts of re-employment.
That of Dieppe (Seine-Maritime) has a total of 386 employees and assembles the sports model, the Alpine A110, a sports coupe with ambitions for top of the range sold very little. The production rate had been reduced to 7 vehicles per day in the beginning of the year. Finally, the foundry of Britain in Caudan (Morbihan), produces cast iron components for engines, chassis and gearboxes, with 385 employees.
Reopening of the factory of Sandouville
The Renault plant in Sandouville, Seine-maritime, has re-opened its doors on the night of Thursday to Friday, two weeks after having been condemned for sanitary measures deemed to be inadequate in the face of the Covid-19, a reversal welcomed by the FO, but deplored by the CGT.
The factory had closed its doors on may 7, after the decision on the same day the court of le Havre seized by the CGT, first union of the site. He was sentenced in summary proceedings the management to suspend production, which did not “ensure (…) the safety of the plant workers face the risk Covid-19”. The site had been resumed partially its activity on April 28, after being arrested on 16 march because of the epidemic.
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The car manufacturer Renault
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