Paris, May 29th, 2015
PRESS RELEASE
Combined Shareholders' General Meeting and Board of Directors of May 29th, 2015
ERAMET's Combined Shareholders' General Meeting was held in Paris on May 29th, 2015 under the chairmanship of Mr Patrick BUFFET, ERAMET Chairman & Chief Executive Officer.
The result of the General Meeting's votes for each resolution is available on ERAMET's website (www.eramet.com).
- Decisions by the General Meeting
Dividend
The General Meeting approved the proposal by ERAMET's Board of Directors not to pay any dividend in respect of 2014.
Changes on the Board of Directors
Following the General Meeting, ERAMET's Board of Directors is made up as follows:
Mr Michel ANTSELEVE
Mrs Valérie BAUDSON (independent director)
Mr Patrick BUFFET
Mr Edouard DUVAL
Mr Georges DUVAL
SORAME, represented by Mr Cyrille DUVAL
Mrs Marie-Axelle GAUTIER (director representing employees)
FSI Equation, represented by Mr Jean-Yves GILET
Mr Philippe GOMES
Mrs Caroline GREGOIRE SAINTE MARIE (independent director)
CEIR, represented by Mrs Nathalie de LA FOURNIERE
Mr Thierry LE HENAFF (independent director)
Mrs Manoelle LEPOUTRE (independent director)
Mrs Pia OLDERS (director representing employees)
Mr Claude TENDIL (independent director)
Mr Frédéric TONA (independent director)
Mr Antoine TREUILLE (independent director)
Mr Alexis ZAJDENWEBER
In addition, Mr Daniel SIGNORET and Mr Jean-François REBATEL take part in Board Meetings as censors on a non-voting basis. Mr Philippe LAIGNEL attends to the Board as personal representative of the Central works council of ERAMET SA on a non-voting basis.
- Decisions by the Board of Directors
At the Board Meeting which followed the General Meeting, Mr Patrick BUFFET was unanimously renewed in his duties as Chairman & CEO of ERAMET.
Mr Georges DUVAL, Mr Bertrand MADELIN and Mr Philippe VECTEN were renewed as Delegate CEOs in charge of the Alloys, Nickel and Manganese divisions, respectively.
- Patrick Buffet, Chairman & CEO of the ERAMET Group, stated:
"In 2014, in a context of difficult markets, the Group's current operating income improved significantly compared with 2013, from - €45 million to + €75 million. The year was marked by substantially greater productivity gains and cost reductions, which together amounted to more than €100 million.
Since the start of 2015, nickel and manganese prices have decreased significantly compared with 2014, which will necessarily weigh on the Group's performance in the first half.
On every level in the Group, the priority is maintained to continuously improve performance in order to emerge from the metals sector's highly depressed current environment with greater competitiveness.
ERAMET has a strong financial situation and approximately €2 billion in financial liquidity.
I have every confidence in ERAMET's future and in its ability to create value in our businesses, which are fundamentally profitable over the medium and long term, for our shareholders and all our stakeholders."
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ABOUT ERAMET
ERAMET is a leading global producer of:
- alloying metals, particularly manganese and nickel, used to improve the properties of steel,
- high-performance special steels and alloys used in industries such as aerospace, power generation and tooling.
ERAMET also has major research and development projects in new business lines with high growth
potential, such as mineral sands (titanium dioxide and zircon), lithium and in recycling.
The Group employs approximately 14,000 people in 21 countries. ERAMET is part of Euronext Paris
Compartment A.
CONTACT
Vice-President Strategy and Financial Communication
Philippe Gundermann
Tel: +33 (0)1 45 38 42 78
Investor Relations and Strategic Analyst
Hughes-Marie Aulanier
Tel: +33 (0)1 45 38 38 04
For more information: www.eramet.com
