Latécoère will hire to meet demand

The aerospace supplier Latécoère will make new hires in 2012 to increase production rates and thus satisfy the growing demand of its large customers are Airbus or Boeing.

At the same time, Latecoere, which employs 4,175 people in nine countries, is still open to industry consolidation.

"We are in a phase of relative privilege where all our customers demand increases in rates," said Francois Bertrand, chief executive of Latécoère at an interview with Reuters. 

Based in Toulouse, the group was founded in 1917, is facing increased rate of production programs Airbus, Boeing and Embraer, while air traffic has increased 6% last year.

"The priority is to manage growth," said Francois Bertrand, adding that the group plans to hire at least 200 additional employees to meet this demand and avoid production delays.

"Currently, the market is booming. The high commands of last year increased its order book and therefore lead to increases in speed. "

Latécoè re projected that its turnover will increase by 10% in 2012, after rising 12% in 2011

. The business, including Airbus accounts for 50% of sales, will continue to expand in North America where it is looking for a new production site. Boeing, the second client (15% of sales, and Embraer) should play an increasingly important Latécoère in the coming years.

Deficit and debt, the company had begun in May 2010 seeking a new shareholder, a search that had failed after the deadline for late 2011.

"In the short term, what matters is the growth management, but the subject of consolidation is still on the table," says Francois Bertrand, adding that an agreement could be reached before the deadline for two to three years announced in November.

"The consolidation will be particularly important in the context of new program launches," he says. 

Latécoère, who has returned to profits in 2010, would merge with one of 15 European OEMs to create a group of at least one billion euros in turnover, Francois Bertrand said.

In 2011, the group recorded a net profit of EUR 6.6 million on a rag business of 520 million euros, while its debt amounted to 370 million, a level that expected to decline by 50 million euros in 2012.

"We returned to a normal situation where our financial resources fit our profile of cash, which was no longer the case from 2008-2009 where large slips were place, "says Francois Bertrand. 

The action Latecoere closed Friday at 11.52 euros (0.17%) showing a market capitalization of 99.187 million euros.

0.4% growth in 2011 for Italy

The Italian economy grew by 0.4% in 2011 after an increase in gross domestic product (GDP) of 1.8% in 2010, a figure revised upward by compared to 1.5% retained so far, according to data released Friday by the national statistics agency Istat.

The budget deficit came out last year to a level representing 3.9% of GDP against 4.6% in 2010.

The government forecast for 2011 growth of 0.6% and a budget deficit of 3.8%.

According to Istat, the country's debt stood at 120.1% of GDP last year, its highest since 1996, against 118.7% in 2010.

COR-G20 hopes to increase IMF resources in April

The G20 finance ministers pledge to do in April the stock of progress in strengthening the resources of the International Monetary Fund, have we learned from officials G20.

At their next meeting in April, the G20 agreed to agree on a financial firewall around 2,000 billion dollars (1.487 billion euros) to prevent European debt crisis from spreading and threatening the global recovery.

This would be the most ambitious effort since the financial crisis of 2009, when the G20 has reached 1,000 billion dollars to save the global economy. 

In an unexpected turn, Germany announced that it would decide in March on strengthening the European bailout fund, an initiative it excluded so far and that many G20 countries consider essential before any increase IMF resources.

For many partners in the euro area, it is indeed the first European leaders to implement the necessary means to control the risks of contagion from the debt crisis, for example by combining lending capacity of its two mechanisms of financial stability, the European Financial Stability Fund (EFSF) and the European Financial Stability Mechanism (MES ).

This would bring their firepower combined with some 750 billion euros. 

G20 countries would then be more inclined to answer the call of the IMF, who wants more than double its capacity to respond by raising $ 600 billion of additional resources.

Added together, all these measures would create a global financial firewalls of about 1,950 billion.

The question of strengthening the bailout funds in the euro area is on the agenda of the European Council of March 1 and 2.

Japan and Britain have reiterated over the weekend that they would refuse to increase their contributions to the IMF as countries in the eurozone will not self-reinforced ; their own firewall facing the debt crisis. 

"I expect that the debate on strengthening the capacity of the IMF loan is progressing as long as the problem of European debt crisis is resolved by the G20 meeting in Washington in April, "said Japanese Finance Minister Jun Azumi.

Commerzbank increased its capital, earnings down sharply

Penalized by a $ 700 million spent on Greek sovereign debt, Commerzbank, the second German bank, said Thursday a sharp decline in profit while by announcing a capital increase to strengthen its balance sheet.

This capital increase, which will help meet the requirements of regulators, will be through the conversion of hybrid instruments and subordinated debt.

The bank said it was missing at the end of December 1.8 billion euros, the lack of capital to bridge having been reduced by improving the management structure of capital and the sale of risky assets.

It nevertheless recognizes that the crisis in the euro area is a potential threat to its results. 

"The high degree of uncertainty associated with the crisis of European sovereign debt will remain, however, a challenge for us," said the CEO of the bank Martin Blessing.

Commerzbank also said to be exposed to the tune of 12.3 billion euro sovereign debt Portuguese, Italian, Irish, Greek and Spanish.

The second German bank said it had depreciated its claims on Greece to 74% in late 2011.

In the last quarter of fiscal 2011, the bank generated an operating profit of 163 million euros after a loss of 855 million in the third quarter. In the fourth quarter 2010, operating profit was stood at 256 million euros.

For 2012, the group said it anticipates an improvement in balance and adds that it will concentrate on the German and Polish markets.

Latécoère confident for 2012 after increasing in 2011

Latécoère announced Tuesday that he anticipated a continued growth of its activities in 2012, after publishing 2011 results carried by the upward cycle of aeronautics .

In a statement, the aerospace supplier said that its revenue, excluding special items, reached last year 520.6 million euros (+12.1%) complied ; lying to its objectives. Current operating income rose 62.5% to 44.7 million, reaching 7.8% of sales.

Latécoère said to rely on an order book representing more than four years of sales, to 2.2 billion euros based on a euro / dollar of 1.35.

The latest delivery rates announced by the manufacturers allow the group to build on for 2012 growth in sales of around 10% and an operating margin in the continuity of in 2011.

Net debt is expected to decline by almost 50 million euros in 2012.

The action ended Latécoère to 12.20 euros (-0.33%) Tuesday at the Paris Bourse before these ads.

Athens approved a bill on the EU / IMF

The Greek government on Friday approved a bill involving the country in the reforms demanded by the European Union and the International Monetary Fund for the implementation of a second rescue plan € 130 billion, officials said government.

"This has been approved," said a minister attending the cabinet meeting.

The bill should be voted by parliament Sunday, which should bring Greece a financial solution while it is important to honor debt obligations at March 20.

The European Union urges the Greek government to provide details of further cuts in public spending of $ 325 million. 

It also requires a clear commitment of party leaders of the coalition government to implement reforms.

According to a survey, less than a third of French say they are willing to buy the French public debt. And you, would you be willing to lend to the state? Do you have confidence in his ability to repay? It goes from 8.86 to 9 euros gross time to reach 1,365 euros for 35 hours, or about 1,073 euros net per month.

Less than a third of French say they probably or definitely willing to buy the French public debt if they were given the opportunity, according to a Harris poll for the site information and the agency Jolpress Image & Strategy to be published Tuesday in the Tribune . Only 6% of French people would buy "certainly" the debt of the country at rates comparable to those charged by banks, and 24% would buy "probably" of such bonds, said the survey.

Conversely, 65% of French people would not buy "definitely not" (34%) or "probably not" (31%) of French debt. Two countries, Italy and Belgium have recently suggested to individuals to buy government bonds, and these operations have been successful. The "day Treasury bills", during which the Italians were called Monday to buy the debt of the country, met a great success, while in Belgium, the government launched Thursday a government bond which has was well received by individuals.

In addition, a majority (56%) of the French believed that the acquisition by the European Central Bank (ECB), a significant portion of the debts of the states of the euro area would reduce speculation in debt. But 56% believe that it would deter states to make real efforts to reduce their deficits and 53% that it could foster inflation.

France and Germany step up their thoughts on a radical redefinition of the euro zone to force an economic, fiscal and tax in the short term and without necessarily the case of a slow and tedious review of the European treaties.

Paris and Berlin have agreed this week to propose by December 9 – when the next European summit – an ambitious reform of the Lisbon Treaty, but behind the scenes, preparations are being made around the tool more flexible and easily activated, as an intergovernmental treaty outside the community or a bilateral Franco-German if members of the euro area do not follow.

The second is to adopt a purely bilateral approach by including in the ongoing revision of the Franco-German Elysée in 1963 a high degree of harmonization in fiscal and social law.

The advantage of this approach is twofold for France and Germany. First, it allows to circumvent the unanimity required for a revision in formal treaties.

On the other hand, it places the responsibility to recalcitrant countries. This is particularly true of Great Britain who wanted to use the exercise to repatriate a number of powers to London.

CRISIS PLAN

Officially, the goal of Berlin is to obtain a limited revision of Article 126 of the Treaty of Lisbon on the Stability and Growth Pact.

Zodiac Aerospace announced Tuesday the results slightly exceeded expectations in 2010-2011 thanks to the growth of the aerospace market and said it expected further improvement in profitability and activity for the current year.

The aerospace equipment anticipates organic growth of 20% of its turnover for the first quarter (September-November) and in the longer term, expects to exceed its growth target of 40% of its turnover on three years, excluding the impact of foreign exchange.

Zodiac has emerged on the fiscal year ended in late August an operating margin of 14.0% – it was a rate higher than 13% – against 11.2% in 2009-2010, with an operating profit of 385.7 million, an increase of 60.4%.

The number of jobs created was below expectations in the United States in October but the unemployment rate fell to 9.0%, a low of six months, and the upward revision to job creation August and September suggests that the labor market found strength.

The number of jobs created was 80,000 last month, while economists predicted 95,000. But the months of September and August, that number was revised up and give 102,000 more jobs than previously announced.

The unemployment rate fell to 9.0% against 9.1% in September.

The private sector added 104,000 jobs in October, while the public sector lost 24,000.