The new president of French engine manufacturer Snecma, Jean-Paul Béchat, says that the company's debt will be halved by the year-end, with "balanced books by the end of 1997". He is also making headway in attempts to avoid a sell-off of group subsidiaries - the prospect being faced by his predecessor.
Snecma's debt stood at Fr1.2 billion ($240 million) at the end of 1995, with sales of Fr 8.6 billion. Improved business from higher sales of Airbus and Boeing narrowbodies, and the Airbus A340, will see an improvement, to Fr9 billion, this year and Fr12 billion in 1997, says Béchat. The workforce, now 10,200, will continue to be reduced, he adds.
Meanwhile, Béchat has won Government approval for his plans for Snecma to acquire the remaining 49% of rocket engine subsidiary SEP which, it does not already own. Before his arrival, the proposal had been for Snecma to sell its stake, but Béchat has made it clear that the aim is to keep Snecma active in space propulsion, the technology of which is seen as likely to merge with that of future supersonic aircraft.
Béchat also plans to hold onto 100%-owned brake-manufacturing subsidiary Messier-Bugatti, following the failure to sell it to BF Goodrich of the USA. It will be merged with SEP's Carbone Industrie to create a "centre of excellence" in braking technology aimed primarily at aviation, but also at the rail and automotive industries.
Source: Flight International
