"France's Vinci to exit US airport activities"

Wednesday, March 2, 2005

France's Vinci to exit US airport activities  
Agence France Presse


PARIS, (AFP) - French construction and services group Vinci said Wednesday
it would withdraw progressively from certain airport activities in the
United States and focus on cargo. 

The decision is expected to cut 2005 sales by around EUR 83 million (USD 110
million), chief executive Antoine Zacharias told a news conference following
publication of the group's 2004 results. 

Zacharias said pricing pressure had persuaded Vinci to re-centre on cargo
and "gently" withdraw from runway services, with the loss of 1,200-1,300 US
jobs. 

Among the activities affected were aircraft placement, roll-backs and
de-icing. 

"The runway services sector is a real service that we would have  
 
handled with fewer and better qualified personnel, but this project dried up
because the airlines are fighting among themselves, we will therefore
withdraw gently from this activity to concentrate on cargo," the Vinci chief
executive said. 

Vinci's remaining airport services activities will continue to generate EUR
250-300 million annually in sales, he added. 

The group was interested, moreover, by certain activities at the French
airports in Lyon, Marseille and Nice, Zacharias indicated. 

Finally, he said the construction company would not seek to develop Asian
activities because it did not consider them sustainable in the long term.


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