Alstom Under Fire For Alleged Asbestos Poisoning

Friday, June 22, 2001
French shipbuilder Alstom SA will need to set aside at least 20 million euros ($17 million) for claims linked to alleged asbestos poisoning at its Saint Nazaire shipyard, analysts said on Friday. A tribunal in Nantes in western France ruled on Thursday that three employees at Alstom's Chantiers de l'Atlantique yard had been poisoned by asbestos and accused the company of "an inexcusable fault."

Compensation likely to be demanded following further medical tests on the victims may run to 200,000 French francs ($26,000) per person, according to calculations by financial analysts.

The company declined to release its own estimate for how much compensation it would have to pay. "It is first of all a human and legal issue and we are not yet at the point where an estimation can be made," said a company spokesman.

But concern the charges will cause a dent in Alstom's cash reserves pushed its shares down 2.14 percent to 32.88 euros in mid-afternoon trading on the Paris bourse.

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Nordic American Offshore Declares Dividend

Nordic American Offshore Ltd. today announced that its board of directors has declared a dividend of $0.45 per common share for the third quarter 2014. This is the same as for the second quarter 2014.

Bollore Africa Logistics Sees Profit Plunge in H1

First half 2014 profit at shipping company Bollore Africa Logistics plunged to 5.89 billion CFA francs ($11.48 million) from 9.45 billion CFA francs in the same period last year,

Maduro Says Venezuela's 2015 Budget to Put Oil at $60

Venezuela's 2015 budget will be based on a target oil price of $60 dollars per barrel, President Nicolas Maduro said on Friday night, but he repeated expectations that prices will recover.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0845 sec (12 req/sec)