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COGEMA jointly with EDF to take control of Clemessy

Press release

June 09, 1999

On June 9th, COGEMA and EDF acquired control of CLEMESSY, a private group specialized in electrical installation and maintenance, alternation and convenience industrial services. On completion of the share transfers under way, the capital of the holding company of CLEMESSY will be owned 45% by COGEMA, 45% by EDF and 10% by SIEMENS (as in the former stock holding structure of CLEMESSY). Jean-Marc PILLU, COGEMA, vice-president, Engineering and Services, has been named Chairman of CLEMESSY Supervisory Board.

CLEMESSY was founded in 1908 by Eugène CLEMESSY in Mulhouse, which still hosts its head office. The group is present throughout France on 160 industrial sites, and is also active in Germany, Switzerland, Eastern Europe and Asia. It posted 1998 revenue of 3.3 billion French francs (500 million euros) and employs a workforce of 4300 persons.

COGEMA knows CLEMESSY well, having appreciated the professionalism of its teams as suppliers on many of COGEMA major investment projects, and as a partner in manufacturing engineering (joint subsidiary SYTECH: 60% SGN, 40% CLEMESSY).

The operation aims to make CLEMESSY a leader in industrial services and maintenance.

GAME, the maintenance subsidiary of SGN, with revenue of 1 billion French francs today (150 million euros), is to be absorbed in late 1999 into CLEMESSY, for the complementarity of its operations, facilities and clientele. The presence of EDF, as co-control shareholder with COGEMA, will open up new markets to CLEMESSY, to accompany EDF services to its own clients.

EDF will also bring in its subsidiary SOPARDEL, specialized in business project organization in electrical and thermal engineering. SIEMENS, which will have an overall 10% stake, will enable CLEMESSY to consolidate its offer as a turnkey supplier in automation and processes. CLEMESSY revenue is expected to reach 5 billion French francs (760 million euros) by 2000. By this operation, COGEMA confirms its determination to expand its industrial service activities.