No company immune from financial crisis but GdF-Suez weathers storm?

(24 october 2008) The CEO of Gdf-Suez, Mr. Mestrallet discussed the impact of the financial crisis with the EWC of Suez. He argued that GdF-Suez had a solid position and has been the first European group able to secure its liquidity through bonds with the banks who have confidence in the company. Recession will hit all companies but for the services GdF-Suez offer there is a permanent need. The Group is committed to its investment targets and maintains its social commitments. The CEO further provided information on the different energy activities undertaken. The CEO and the EWC also discussed the merger of the activities of Cofathec and Elyo to form the first European operator in the area of energy services. The EWC is asked to give its opinion. Colleagues from Suez Environment indicated that it is difficult to see their place in the new company. The meeting took place 23 October 2008, Chantilly. EPSU Deputy General Secretaty attended.

- Read the Suez ECC Declaration here