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

Areva-Siemens Raises Claim Over Finnish Reactor Delays

The French-German consortium Areva-Siemens , the supplier of Finland's much-delayed Olkiluoto-3 nuclear reactor, has increased its claim against Finnish utility Teollisuuden Voima (TVO),

Ezra Bags $70m in Offshore Contracts

Ezra Holdings Limited, a leading contractor and provider of integrated offshore solutions to the oil and gas industry, today announced that the Group’s Subsea Services division,

WFW Advises ING Bank on $340m Loan Facility for Euronav

Watson, Farley & Williams (WFW) has advised ING Bank N.V. (ING) as sole bookrunner and facility agent for a syndicate of banks on a $340 million loan facility made available to Euronav NV.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Simulators Winch
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: 0.0812 sec (12 req/sec)