Boulogne, March 6, 1995 - The French press today reported a project of merger between Schneider S.A. and its 59 % affiliate Spie Batignolles SA. As restated on January 23rd 1995, Schneider SA confirms that the situation of its affiliate Spie Batignolles requires a financial restructuring. Conditions of this restructuring will be announced at the latest during the Board Meetings of the two companies approving the accounts for 1994, in mid April. Those conditions, taken as a whole, will have no impact on the Group's consolidated results.
Therefore, Schneider SA confirms, as stated at the release of its first half results, that "overall 1994, net income (group share), should increase from 1993 significantly faster than reported during the first six months of the year". This improvement reached 58 % for the first half of the year. Net income (group share) totalled FF 405 Million in 1993.
Groupe Schneider's operating brands include Merlin Gerin, Telemecanique, Spie Batignolles and US-based Square D Company. The Schneider SA share, listed on the Paris Stock Exchange and a member of the CAC 40 index, may be accessed on the Dow Jones News Service under the symbol F. SCN, the Reuter Equities 2000 under SCHN. PA and on Bloomberg under SPE FP Equity.