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SNCM seafarers to strike over threat to dismantle company.

Europe Intelligence Wire

| February 01, 2005 | COPYRIGHT 2005 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Lloyds List)

Seafarers at state-owned French ferry company SNCM are to hold a 24-hour strike on Thursday as the first stage of an effort to dissuade the French government from breaking up the company, writes Andrew Spurrier.

The seafarers say they plan further action on February 9 when the company is expected to present its plans for restoring the company to profit to the works committee.

SNCM has already indicated, however, that it plans to axe 210 jobs and sell off one of the two fast ferries operating on its Nice-Corsica services.

It is also planning to sell its 50% stake in Mediterranean regular line operator Sudcargos.

The French government has refused union calls for a meeting with the company and local authorities to discuss the future of SNCM.

It has promised measures to safeguard the company's position after losses totalling €28m ($36.4m) last year but is looking meanwhile for an 'industrial operator' to invest in the company and help to improve its ...

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