BENETEAU (EPA:BEN) - BENETEAU - Housing Division : Proposed restructuring of BH

Transparency directive : regulatory news

20/10/2016 18:00

PRESS RELEASE

St Gilles-Croix-de-Vie (France), 20 October 2016

                HOUSING DIVISION: PROPOSED RESTRUCTURING OF BH

Groupe Beneteau initiates a restructuring project of its subsidiary BH and the
discontinuation of its traditional  activity (residential housing with wooden
structures). Although BH demonstrated the capacity to carry out beautiful
projects, highlighting its undeniable experience and expertise, there is no
market for its offer in the sector for detached houses, collective housing and
dedicated residences.

Facing a difficult financial situation at BH and in the absence of a suitable
partner to envisage a business takeover,  the Housing Division initiated a
consultation process with employee representatives concerning the conversion
project of BH to produce mobile homes. This proposed action would maintain 33
jobs at La Chaize-le-Vicomte site in France. The transformation of the plant's
industrial facilities has already been trialled in 2016, with more than 200
mobile homes produced by BH in connection with growth in the Leisure Homes
business.

The proposed restructuring project would result in a Job Protection Plan. The
objective would be to offer internal job reclassification to the 73 employees
affected by the Plan, out of 106 employees with permanent contracts at BH. The
job reclassification would be offered within the Groupe Beneteau and the
employment area of Vendée (France). Documents presenting this project will be
submitted at the next meeting of BH's Works Council on 27 October 2016.

This conversion project will be carried out after the consultation of the
employee representatives and taking into account the employees' best interests,
which is an important element in Groupe Beneteau's strategic choices.

About Groupe Beneteau

World leader for mono and multihull sailboats, Groupe Beneteau continues
growing on the powerboat markets where it now plays a significant role.

In both sailing and powerboating, the Group's brands : BENETEAU, JEANNEAU,
LAGOON, PRESTIGE, MONTE CARLO YACHTS, CNB, FOUR WINNS, GLASTRON, WELLCRAFT and
SCARAB offer a range of more than 200 models from 15 to 105 feet in length.

Groupe Beneteau also leads the European market of leisure cabins with its
brands O'HARA, IRM and COCO SWEET.

https://www.beneteau-group.com/en/

Press contact
Aurélie Gabrieli : aurelie.gabrieli@consultants.publicis.fr
Tél. : +33 / (0)1 44 82 48 33
Port. : +33 / (0)6 07 04 22 48

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BENETEAU (EPA:BEN) - BENETEAU - Housing Division : Proposed restructuring of BH

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