Eramet is a French multinational mining and metallurgy company, listed on the Euronext Paris exchange under the symbol ERA.
 | |
| Company type | Société Anonyme |
|---|---|
| Euronext Paris: ERA CAC Mid 60 Component | |
| ISIN | FR0000131757  |
| Industry | Basic resources |
| Predecessor | Société de Traitement des Minerais de Nickel, Cobalt et Autres Higginson et Hanckar |
| Founded | 18 May 1880 |
| Headquarters | Paris, France |
Key people | Christel Bories (Chairman and CEO) |
| Products | Mining and extraction of manganese, steel alloys and nickel |
| Revenue | €3,652 million (2017)[1] |
| €608 million (2017)[1] | |
| €203 million (2017)[1] | |
| Total assets | €3.269 million (end 2017)[1] |
Number of employees | 12,590 (end 2017)[2] |
| Website | www |
The company was founded with the funding of the Rothschild family (although they were careful to avoid being listed as founders of the company) in 1880. With discretion, the family took full control of the company in 1890.[3]
The company produces non-ferrous metals and derivatives, nickel alloys and superalloys, and high-performance special steels.
Through its subsidiary Société Le Nickel (SLN),[4] the company has its historical roots in nickel mining, and for over 100 years has maintained a large mining operation in the French overseas territory of New Caledonia. It is also a major producer of manganese from mines in Gabon.[citation needed]
Eramet's chairman and CEO as of 2017 was Christel Bories and its headquarters is in Paris.[5]
History
Between 1907 and 2007 the Aubert & Duval organization of Issoire France was owned by Eramet and formed part of its alloy division. The subsidiary was purchased by a consortium of Airbus, Safran and Tikehau Capital.[6]
In 2023, a worldwide fall in nickel prices exacerbated shortfalls in SLN's balance sheets, with ERAMET and the French government refusing to subsidise SLN.[7]
Activities
Eramet is organised into three activities:
- ERAMET Manganese (48% of the group's turnover):[8] Eramet's subsidiary Comilog extracts manganese in the Moanda mine in Gabon and then transforms it in its metallurgical and chemical factories located in China, in Europe and in the United States.[9]
- ERAMET Alloys (32% of the group's turnover):[8] Eramet elaborates special steels and superalloys as well as wrought pieces for the aeronautical and energy sectors.[10]
- ERAMET Nickel (20% of the group's turnover):[8] Eramet's subsidiary, Le Nickel-SLN extracts nickel in five mines in New Caledonia, mainly to produce stainless steel.[11]
Global presence
Eramet’s 47 sites are divided across the five continents as follows:[8]
- 22 in Europe, among which 13 in France
- 13 in Asia and Pacific
- 7 in North America
- 2 in Latin America
- 4 in Africa
Joint Ventures
Corporate governance
Christel Bories, Eramet’s CEO, is at the head of the Board of Directors, which comprises nineteen members appointed for four years.[13]
The Executive Committee has eight members.[13]
References
External links
- Official website
- Eramet rethinks its African mining strategy, Africa Intelligence, June 9, 2023 (requires free registration)