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Press Release: ERAMET Group: SLN performance plan strengthened in New Caledonia

8 Sep 2017 4:30 am
 
   Paris, September 8(th) , 2017, 6:30am 
 
   PRESS RELEASE 
 
   ERAMET Group: SLN performance plan strengthened in New Caledonia 
 
   ERAMET announces a project to strengthen the performance plan for its 
subsidiary Société Le Nickel (SLN) in New Caledonia. 
 
   In the context of a changing global nickel industry, considering that 
the 4.5 USD/lb target set for the end of 2017 is essential but not 
sufficient to guarantee the company's long-term future during cycle 
troughs, a new cash cost target has been set at 4.0 USD/lb by the end of 
2020. 
 
   An in-depth analysis of costs at SLN and its principal competitors shows 
that the two main shortfalls are productivity on one hand and energy 
costs on the other. The intended plan is, therefore, based on new 
actions designed to: 
 
 
   -- Raise the company's productivity through measures to increase work time 
      and overhaul organisations. 
 
 
   -- Reduce SLN's energy bill, currently the industry's highest, through 
      measures on energy efficiency and the revision of electricity prices. 
      These actions will be carried out independently of progress on the new 
      electricity plant project led by New Caledonia, which is not expected to 
      contribute until 2022. 
 
 
   On September 7(th) , SLN's Board of Directors approved these measures to 
strengthen the performance plan, which will enable SLN to improve its 
competitiveness on a structural basis, the only way to guarantee the 
activity's long-term future on a demanding, competitive market. 
 
   - ooOoo - 
 
   ABOUT ERAMET 
 
   ERAMET is one of the leading global producers of: 
 
 
   -- alloying metals, particularly manganese and nickel, used to improve the 
      properties of steel, 
 
   -- as well as high-performance special steels and alloys used in industries 
      such as aerospace, power generation and tooling. 
 
   ERAMET is also developing activities with high growth potential, such as 
mineral sands (titanium 
 
   dioxide and zircon), lithium and recycling. 
 
   The Group employs nearly 13,000 people in around 20 countries. 
 
   CONTACT 
 
   Vice President Strategy and Financial Communication 
 
   Philippe Gundermann - Tel: +33 (0)1 45 38 42 78 
 
   Strategy and investor relations managers 
 
   Ludovic Donati - Tel: +33 (0)1 45 38 42 88 
 
   Arthur Perroton - Tel: +33 (0)1 45 38 37 32 
 
   Find out more: www.eramet.com 
 
   Follow us with the ERAMET Finance app: 
 
   IOS: https://itunes.apple.com/fr/app/eramet-finance/id1115212055?mt=8 
 
   Android: 
https://play.google.com/store/apps/details?id=com.eramet.finance 
 
 
 
   SLN performance plan strengthened in New Caledonia: 
http://hugin.info/143395/R/2132297/814898.pdf 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Groupe Eramet via Globenewswire 
 
 
  http://www.eramet.com 
 

(END) Dow Jones Newswires

September 08, 2017 00:30 ET (04:30 GMT)
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