All this to a Communicator and flexible network

Schneider and Alstom yesterday announced the completion of their acquisition of T & D, subsidiary Areva electricity distribution and transmission. The operation, announced end of 2009 at a price valuing the company at EUR 4.1 billion, will allow Schneider to pull at the global forefront of the average voltage, elbow-to-elbow with ABB. Meanwhile, Alstom will return to his former profession, high-voltage electricity transmission, that he had to yield to Areva for acceptance by Brussels of its rescue from bankruptcy in 2004.

You have to finalize the acquisition of Areva T & D. What is this step

Green lights of the Chinese and European competition authorities have not been a problem and we are perfectly in the nails in terms of calendar. The agreement provides for the transfer of its transmission, which represents two-thirds of the total, Alstom, and distribution, i.e. the rest, Schneider. Our intention is to integrate the collaborators and the activities of distribution of Areva and Schneider early next year. By merging the teams, we create a pole energy of almost 20,000 employees and approximately 4.5 billion euros in sales, of which almost half in emerging countries. This will be the number one global average voltage. This acquisition will make us a world leader in the "smart grid"...

The famous "intelligent networks"... What is that exactly

It is a triple mutation of the energy landscape. First, the development of renewable energy is energy generation which was centralized so far will become more and more dispersed and volatile. A wind turbine, for example, does that from 20 to 30 of the time. Second, the buildings will become more intelligent and responsive to their users. Third, the electric vehicle will be the first massively mobile power consumption of the history of electricity. It will load the evening at home and the Office in the day. When the car be not taking place, the battery can be used for other functions by providing power to the network and by reducing the points if necessary. What was fixed, centralized becomes variable, open, and all these changes must be coordinated by an intelligent and flexible distribution system.

But it is a very long-term vision

No, I speak of concrete things. Energy efficiency, renewables, electric car, it is immediate. For example, by applying our solutions on our headquarters building, we divided by four its energy consumption. Today, we are present in residential customers through their electrical table. Tomorrow, this table will potentially integrate a connection to solar panels and electric car system. Via a smart meter, it will communicate your consumption in real time and receive the provider of information on the quality of electric energy. If you know that in the hours leading this electricity is more expensive and more carbon you will eat less and reduce your Bill. All this, to a Communicator and flexible network. This is precisely that Areva Distribution acquisition makes stronger us.

How will you finance this acquisition

Our financing capabilities allow us to make this operation very widely. We do not need capital increase. In addition, we are building on synergies of EUR 120 million per year.

Will this result in restructuring

We have taken strong social commitments in this area. They have not changed.

Talking about economic recovery. What is for you

We announced a goal of organic growth of our turnover moderate at a figure for 2010 year and there is no reason to change it. This represents a net progression since last year, sales fell by 16 on an organic basis, but we knew adapt by reducing our costs. We live in a world with two speeds, with a strong pull of emerging countries, which represent 34 of our turnover, and "mature" countries, in which our new activities such as energy efficiency or renewable energy are progressing well. In addition, our sales to industry and computer applications, such as data centers, have restarted at the global level.

Take advantage of the weakness of the euro

The exchange rate is indifferent to our economic equilibrium in the sense where we have much relocated our production sites close to customers. But, as the decline of the euro has a positive effect when we are consolidating our results. When the euro loses 1 against the dollar, our gain is approximately EUR 8 million. A more general point of view, the decline of the single currency is a very good thing for Europe, because the level of the euro was too high.

Do you have the Greek crisis or uncertainty about other countries

Not directly, because the Greece is not a big market for us. That being said, the Greece acted as a second "wake up call" after the shock of the financial crisis of 2008. It recalls that he going to demonstrate discipline, even if I prefer to talk about economic sense, in business and public finance. Moreover, this crisis force European countries to act together and to better integrate their policies. It is absolutely necessary and positive.