Document n93xQjzLkzg55oyL3XwRgjgO8

FILE NAME: St. Gobain (SG) DATE: 1982 DOC#: SG005 DOCUMENT DESCRIPTION: Moody's International Manual Entry FRANCE N ote* p a y a b le ........... Provisions .................... Lon s term d e b t ......... Share ca p ita l............... R e s e r v e s ...................... Consol, d iff................... Minor, in t ..................... 560.6 70.4 897.9 136.9 803.7 61.2 380.8 453.4 71.6 641.3 136.9 797.6 157.8 338.1 T o t a l .................... GIDeprec.................... 8,976.3 1,810.8 7,201.0 1,6803) Long Tarm Dobt: O u tstg ., D ec. 31, 1980, F FC8a9p7it,a9l0S0 t, 0o 0c k0 .: DC oemtapilasonnoiat reported. Induatrtaka d *a T a la - eommunieatlons CTT Alcatal aharas; par FF100: O u tstg ., D ec. 31, 1980, 1,369,420 sha.; p ar FF100. D ividends Paid (sin ce 1974-net of tax cred it): 1973.........F F 36.5 1976..........F F 38.8 1977 ............ FFS1 1 9 7 8 -7 9 ......... 54 lasted: On Parts Bourse. COMPAGNIE INTERNATIONALE POUR L'INFORMATIQUE Cll HONEYWELL BULL H istory: F o r m e d th ro u g h a s e r ie s o ! a c c o r d s undertaken in 1976-77, through w hich C om - agnie H oneyw ell Bull and th e inform ation eu sin e ss o f th e C o m p a g n ie In te r n a tio n a le >ur 1'I n fo r m a tiq u e w e re re g ro u p e d in to C l I Son ey w ell B u ll. B u sin ess; D iv e rsifie d in fo rm a tio n p ro c e ssin g com pany (com puting, word processing, etc.). S u b sid iaries and A ffiliate* Cll-H oneyw eil Bull Afrique, S.A . (F ra n ce ) Cll-H oneyw ell B u ll G abon, S A R . L (G a bon) Cll-H oneyw eil Bu ll Senegal, S.A .R .L , (Sene gal) C ll-H oneyw ell B u ll System es, S A (F ra n ce ) (50.50% ) C o m p a g n ie F r a n c a is e d'I n v estiaaem en ts Pr& es (C O F IP ), S A (France) R ealisations Etud es Electxoniquea, (R 2 E ) S.A . (F ra n ce ) R 2 E o f A m erica Incorp orated (U SA ) C orrelative System s International S A . (B el gium ) (20% ) Cu-H oneyw ell Bull C am eroun, S A R .L . (Cam eroon) O Y H oneyw ell Bull A B (Fin lan d ) C ll-H oneyw ell B u ll C ote d'Ivoire, S.A . (Iv o ry C oast) Bull C orporation of _ H oneyw ell Bull SA L H oneyw ell Bull (M ad agascar), S.A . (M alag a sy) H oneyw ell B u ll M aroc, S.A . (M o ro cco ) Cll-H oneyw eil B u ll N iget (N iger) B u ll H olding, S A (Sw itzerland) CU -H oneyw ell B u ll F in an ce B .V . (N e th er la n d s) B u ll C orporation o f A m erica (U SA ) C ynthia Peripheral Corporation (U SA ) C O M P A G N IE CU-HB IN T E R N A T IO N A L E N .V .: P ara B u ll A rg en tin a , S .A .C .I. d e E q u ip o s el T ratam ien to de la Inform acion (A rgentina) H oneyw ell Bull AG (A u stria) H oneyw ell Bu ll, S.A . (B elgium ) S.A . C o rr e la tiv e S y s te m s I n t e r n a t io n a l (B el gium ) (42.48% ) H oneyw ell Bu ll do F ra sil S isterna s de In fo r- m acao, S.A . (B rasil) Cll-H on eyw ell B u ll F in an ce O v erseas, N .V . (C u racao) H oneyw ell Bull A /S (D en m ark) Societe A nonym e Com m erciale et Industrielle H oneyw ell Bull, A .E . (G reece) H oneyw ell Bull (N ederland) N .V . (N eth er la n d s) N .V . R& m atec (N etherlands) N .V . K am ad ex (N etherlands) Cll-H oneyw ell Bull System s N .V . (N eth er lands) (50.50% ) H oneyw ell Bu ll A /S (N orw ay) Socieaade Portuguesa H oneyw ell B u ll Ld& (P o rtu g a l) H oneyw ell B u ll, S A . (Sp ain ) D ata System , S .A (Spain) H oneyw ell Bu ll A /B (Sw eden) H oneyw ell Bull (Schw eiz) AG (Sw itzerland) Bull del U ruguay, S A . (U ruguay) H oneyw ell Bu ll AG (W est G erm any) D V M G m bH (W est Germ any) M anagem ent C om pagn ie In tern atio n ale p ou r l'ln fo rm a tique C II-H on eyw ell Bull: Jean -P ierre Brule, Pres. & D ir. Gen. Board of D irector* Francois ChaUmet H .M . Lobl P ierre D avous Francis M er H enri-M aurice D elaage W .W . G eorge J.M . Eisner W .R. Sm art Roger Fauroux Jean-C laud e H ire! Philippe Sah ut Carol Peretti D 'iz a rn Auditor*: A n d re A m ic, H e n r y L . C h a rr ie r. Com pagnie C II-H B Intern ation ale N .V .: Jean -P ierre Brule, President and D irector Supervisory Board Francois Chaum et Jacques Stem Pierre D avous M axim e B on n et H enri-M aurice D elaage Jacqu es Eisner Roger Fauroux W .W . G eorge Francis M er Jean-C laude H irel W .R . Sm art C arlo P eretti Auditor*: D elo itte H ask in s & Sells. No. o f Em ploy***: D ec. 31, 1981, 15,895. Head Office: C om pagnie In tern atio n ale p ou r 1'I n fo r m a tiq u e C II-H o n e y w e ll B u ll, 94, a v e nue G am betta, B .P . 33, 75960 P aris Cedex 20, F ra n ce. TeL: 360.02.22. Com pagnie C II-H B Internationale N .V ., V liegtuigstraat 26, 10S9 C L A m sterdam , N etherland s. TeL: 15-89-55. In com * A ccount, y e a r* andiad D ec. 31 (in FF 1.000): 1981 1980 . Gross revenues . 7,346,969 6,293,605 Costs & e x p . .. 7,778,487 6,077,946 Prov. for inc. tax . . . . 18,209 117,116 Extraord. p ro f.............. 609 81,628 Nat in co m a ............... (449,218) 180,171 Balance Sheet, a s of Dac. 31 (in F F 1 .0 0 0 ); Assets: 1981 1980 Prop., etc., n e t ............. 3,375,435 2.860,662 Oth. fixed a s s e ts ........... 487,976 399,856 In v e n to r y ...... 1,586,912 1,244,578 Curr. a s s e ts ............. 3,034,492 2,265,244 T o t a l ...... 8,484,815 Liabilities: Stockholders equity . 1,304,270 Other non-cuiT. Uah. . 205,777 Long term d e b t ........... 2,698,364 Curr. liab.......... 4,276,404 6,770,340 1,847,416 180,054 1,994,080 2,748,790 T o t a l ...... 8,484,815 6,770,340 Long and Medium Tarm D e b t O u ts tg ., D e c . 31, 1981, F F 2 .6 9 8 ,364 com prised of: Bonds: 1) F F 6 ,752,000 7.25% , m aturing 1981-88. (2) F F 2 2 ,210,000 8.75% , m aturing 1981-91. (3) FF42,S68,0G 0 10.8% , m aturing 1981-91. (4) FF50,000,000 11.4% , m aturing !9 8 3 -9 a (5) F F 2 3 6 ,852,000 9.9% , m aturing 1982-91. ler bonds: (6 ) F F 6 ,548,000 7.75% , m aturing 1981-84 (less allocation of interest at 11% , FF 192.000). R enew able credit agreem ents: (7 ) F F 4 0 6 .9 14,000 10.844% -15.65% (w eight ed average ra te 14.91% on the portion used a t D ec. 3 L 1981) due 1983. (8 ) FF302.843 8.375% due 1990 (D uetsche M ark) (9 ) F F 225.000 14.25% due 1985. (10) F F 230.820 variable rate m inim um 11% due 1990. (11) F F 400.000 variable rate m inim um 10.75% due 1989. (12) F F 7 6 7 ,857,000 oth er long term debt due 1983-1995. Capital Stock: Com pagnie Internationale pour I'lnformatique Cll-Honeywell Bull stock ; par FF100: O u tstg ., D ec. 31, 1981, 8,610,919 shs.; p ar FFlO O. D ividends P aid (sin ce 1977-- n et o f tax cred it): 1978.........FF 4.16 1979..........FF 4.36 COMPAGNIE MARITIME CHARGEURS REUNIS DSJEKS. History: E sta b lish e d in F ra n c e in 1949. Business: Co. operates shipping lines, cruis es, and land transportation; also port service*. Subsidiaries and Affiliates 50% or m ore owned: N ouvelle Com pagnie de Paquebots Com pagnie F a o re/S .G .T .M . D jirin g F ret Sud-O uest C ontainers A ta-W alon Som otrans A .M .F.-- A gences M aritim es F ab re Som aba-- so ciete de M anutention de la B asse S e in e Com pagnie A aiatioue de N avigation M arin e T ransw orid Equ ip m ent Corporation Lim ited 10 to 50% owned: Sotrasol Plu m et M igny V asseu r Societe N avale C hargeurs D elm as V ieljeu x U nion N avale P roperty: A s o f M a y 1, 1981, C o . an d its su b sidiaries op erated 40 snips, w ith 6 additional ships under construction. Supervisory Board Francis C. Fabre, H on. Pres. D om inique Boyer^ Pres. Landry de B arbann Je a n Picard Rene Courau Jerom e Seydoux Jean D arde C hristian V alensi P ierre C. F ab re T rista n V ieljeu x Georges F ay et M ichel W alon Board of Directors A lain G rill, D ir. G eneral Jacques C hassany Francois Lefeuille Georges Croze G ilbert R oy Arm arvd d 'H u m ie re s Auditors: L o u is V ia la ; S o ciete de C on trole des C om ptes. Annua! Meeting: In Ju n e, No. of Em ployees: D ec. 31, 1980, 1,612. Head Office: 3, blvd. M alesh erbes, 75008 P a r is, F ra n ce. Teh 266.33.17 Consolidated Incom e Dec. 31 (in F F 1,000): End. inv en tory........... Services rendered . . . Other in c o m e ............. T otal ............................. Begin, in v e n t.............. P u rc h a se s.................... Empt. e x p e n s e s ......... Out. labor, e t c . ........... Oth. oper. e x p ............ Oper. l o s s .................... Non-oper. inc............... Non-oper. e x p ............ T axes . .......................... Net Incom e ............... Account, years ended 1980 4,900 987,029 226,677 1.218,606 5,986 4,032 218,938 761,058 162,598 64,078 104,867 39,678 462 649 1979 5,986 726,719 221,14] 953,846 7,614 4.346 202.700 S15.720 223,467 68,020 84,092 111,494 3 427,062 Balance Sheet, as o f Assets: Costs of e s t a b ............ Property, etc., net . . . Other fix. a s s e ts ......... In v en to rie s.................. Receiv. 8c other current a s s e ts ___ Cash, banks 8c oth. fin. a ssets................ Net l o s s ........................ Other ch arg es............. Dec. 31 (in F F 1980 7,039 739,129 433,952 4,900 281,045 36,770 ........... 67,039 1 ,0 0 0 ): 1979 21,036 935,032 415,065 5,986 281,432 ............... 27,062 31,197 T o t a l .................... Liabilities: Capital s to c k ................ R e s e r v e s ...................... Equip, premiums. . . . Prov. for loss. 8c chgs. Lg. 8c med.-tm. debt . Sh ort term d e b t ......... Accts. pay. 8c oth. sh. tm. l ia b ................... N et in c o m e .................. Other in c o m e ............. 1,569,874 133,232 281.393 94,371 32,503 652,512 51,936 248,863 649 74,416 t.7 16,808 133,232 313,848 98,424 34,225 768,411 148,831 169,351 .......... 50,486 T otal .................... 1,569,874 1,716,808 Long Term Debt: O u tstg ., D ec. 31, 1980, F F 652,511,793 consisting of: (1 ) F F 396,662,495 bonds w ith m ore th an 1-yr m atu rity; (2 ) F F 255,849,298 other d ebt w ith m ore th an 1-yr m aturity. Capital Stock: Com pagnie d e s Chargeurs Reurv I* SA . stock; per FF 50: O u tstg., D ec. 31, 1980, 2,664,639 shs.; p a r F F 50. D ividends P aid (sin ce 1974-- n et o f ta x cred it): 1975-77 . . F F 4.5 1978-80 . . . ..N il COMPAGNIE DE SAINT-GOBAIN PONT A MOUSSON (FRANCE) History: O rgan ized in F ra n c e in 1970 by m erger of Com pagnie de Saint-G obain and Com pagnie de P ont-a-M ousson. In Aug. 1970 sold its control in A m erican Sain t G obain Corp. (now A SG Ind ustries In c.) to A m e ric a n in te r e s ts fo r a b o u t $ l t0 0 0 ,0 0 0 in cash and stock w ith possible additional p ay m ents of 81,300,000 later on. In early 1972. C o. sold certain patents and patent applications to Certain-teed Products C orp . fox $40,000,000 in cash an d C ertain -teed com m on and convertible preferred stock. In M ay 1973, acquired 2,300,000 shs. of C er tain-teed Corp. com m on stock, raising G ro u p 's in terest to 3 2 % . In S ep t. 1974, acquired 1,000,000 shs. o f S20 series C conv. preferred stock and 400,000 com m on shs. for $23,350/500 in cash, raising th e G r o u p 's in te r e s t to 3 9 % . In O ct. 1976, acquired 1,650,740 shs. o f C er ta in -te e d C o rp . c o m . s tk ., ra is in g G r o u p 's in terest to 54% . In 1979 Co. acquired 2 0% o f th e sh are cap i tal of C om pagnie des M achin es Bull. I n 1979 C o. fo rm ed E u ro te ch n iq u e C o . in w hich th e G roup holds 51% o f th e sn are cap i tal. f B u sin e ss: G r o u p 's o p e r a tio n s h a v e b e e n o ranized in prod uct line divisions sin ce 1978. Toduct line divisions are as follow s: F la t Glassy Insulation ; F ib er R ein forcem en ts; Containersj F ib er Cem ent; Pipe; M achin ery; R e fractories; P aper; C ontracting, an d M iscella neous. Property: T h e G rou p h as p lan t and ind ustri al operations in F ran ce. G erm any. Belgium , the N etherlands, Italy , Spain , Sw eden, Sw itz erland, the United K ingdom , A rgentina, B r a zil, M exico, V enezuela, Ira n , Ja p a n . C an ad a, D enm ark, N orw ay, Colom bia, and th e U nited States. Subsidiaries Saint-G obain V itrage (F ran ce ) (100% ) So vis (F ra n ce ) (1 0 0 % ) V egla (G erm any) (100% ) Suagiaa (G erm any) (100% ) Schalke (G erm an y) (100% ) 100 . . . . . , ( %) Fabbrica P isan a (Ita ly ) (100% ) Luigi F o n tan a (Ita ly ) (7 2 % ) C ristaieria E sp an ola (S p ain X (73% ) LaV eneciana (Sp ain) (100% ) Scan G obain (D enm ark) (100% ) San ta M arina (B razil) (72% ) FRANCE 985 laover Saint-G obain (F ran ce ) (1 0 0 % ) S F IC (F rance) (100% ) Grunzw eig & H artm ann (G erm an y) (9 5 % ) Saint-R och (Belgium ) (50% ) Balzaretti (Ita ly ) (82% ) Crist&leria E sp an o la (S p ain ) (7 5 % ) Fibriver (Sw itzerland) (98% ) C ertainTeed (U SA ) (55% ) Santa M arina (B razil) (72% ) V etrotex Saint-G obain (F ran ce ) (1 0 0 % ) G evetex (G erm any) (100% ) C ristaleria E sp anola (Sp ain ) (7 3 % ) Balzaretti (Ita ly ) (82% ) CertainTeed (USA) (55%) Saint-G obain Em ballage (F ran ce) (100% ) Saint-G obain D esjo n q u eres(F ran ce) (100% ) V erreries de Saint-G obain (F ran ce) (9 9 % ) .Verreries G eneralea (F ran ce ) (8 3 % ) Vic&sa (S p a in ) (6 5 % ) San ta M arina (B razil) (72% ) Everitube (F ran ce) (100% ) 'W an it (G erm an y ) (5 0 % ) PeertainT eed (U SA ) (55% ) f C olom bit (C olom bia) (70% ) M exalit (M exico) (49% ) * Brasilit (B razil) (86% ) LIBama (B ra z il) (5 0 % ) 1 M onofort (A rgentina) (78% ) vP o n t-a -M o u s s o n SA (F r a n c e ) ( 9 8 % ) Saunier D uval EC C (F ran ce) (52% ) H albergerhutte (G erm any) (100% ) Elster AG (G erm any) (100% ) Krom schroder AG (G erm any) (84% ) B arbara (Brazil) (59% ) Sapag (F rance) (100% ) SM T P (F ran ce) (100% ) Jansen G m bH (G erm any) (95% ) S E P R (F ran ce) (100% ) Q uartz & Silice (F ran ce) (96% ) , Refr&dige (Ita ly ) (100% ) L a C ellulose du Pm (F ran ce) (6 9 % ) Condat (France) (100% ) , Papeterie de la Sem e (F ran ce) (100% ) Socar (France) (94% ) L e m b a c e H F r a n c e ) ( 80% ) . Silvallac-S M S (F ran ce) (62% ) Q e des Em ballages Pratiques (F ran ce) ( 100% ) C o(m10p0t%o i)r s d u P in d 'A q u ita in e ( F r a n c e ) B o is D eroules O cean (F ra n ce ) ( C elu losas del N erv io n (S p a in ) ( 63* Sobea (France) (98% ) Sablaise des F a u x (F ran ce) (97% ) C FC E (France) (99% ) Air Ind ustrie (F ra n ce ) (9 9 % ) T N E E (France) (100% ) W anner Isofi (France) (97% ) E ntreprises Saunier D uval (F ran ce) (4 7 % ) G & H M ontage (G erm any) (100% ) Felix Schuh (G erm any) (100% ) N V D enys (Belgium ) (53% ) C1I H o n e y w e ll B u ll ( F r a n c e ) ( 5 3 % ) Eurotechnique (F ran ce) (51% ) O liv e tti ( I t a l y ) ( 2 9 % ) S P A F I (ex St-G obain Industries) (F ran ce) 100 , . . ( %) .M achines B u ll (F ra n ce ) (5 i% ) Sofidav (F ran ce) (90% ) I n t e r n a tio n a l S a in t-G oobb a in (S w itz e r la n d ) ( 100% ) S a in t-G o b a in ( 100% ) N ederland (N etherlands) Joint Ventura: I n 1973, P o n t-a -M o u s s o n S A , subsidiary, in association with C ertain-teed Corp. organized Precision M eters In c. to m an ufacture w ater m eters. Certain-teed Products Cotp. and Pont-a-M ousson SA also took a 75% interest on an equal basis in B& H Sales In c. (O rlando, Florid a), a com pany special ized in th e distribution of equipm ent for w ater supply system s in the south east U nited States. In D ec. 1981, Co, form ed a jo in t venture com pany in F ra ce w ith C om ing G lass W orks and T h om son -C SF , to produce optical fibers. T h e com p any will be called F ib re s O ptiqu es Ind u stries, and will be 6 0 % ow ned b y C o. and -Thom son-Brandt, and 40% owned oy C om ing. General Management R oger Fau rou x, Chm n. & Chief E x ec. O fficer Jacq u es Beigbeder, Chief O per. O fficer Francis M er, Industrial Policy T e a n -P ie rre C a u sa e , R e s e a r c h Sc D ev e L P ie r r e S c h m itt, L e g a l 8c T a x D e p a r tm e n t Je a n -Ja cq u es Fau st, Com m unications D irectors R oger Fau roux, Chairm an Com pagnie Financiere de Suez. D ep. Chm n. Ja n Lovenbach, D ep. Chairm an G abriel A ufaure C arlo D e Benedetti Jean Barbey D om inique de G rieges Bruno de Boisgelin A m aud de V iliepin, Sec. G ilbert C ousin Philippe M alet Roger Fauroux Jo h a n n e s VoUing A uditors: G o n z a g u e L a u r a s ; C a b in e t M u lguin-- S o c c e fi Sc A rro u e s; P rice W a te rh o u s e Sc C o . (L o n d o n ); B la n c h a r d . C h a v e a u Sc A rro u e s S_A. Annual M eeting: B e fo r e J u n e 3 0 th . No. of Em p loyees: D e c . 31, 1980, 163,492. Head O ffice: L e s m iro irs-- 16, b o u c le d'A l sa c e -- C ed ex 2 7 -9 2 0 9 6 , P a r is . T el.: (1 ) 7 6 2 -3 0 00. Co nso lidated Incom e O sc.3 1 (in F 1,000): N et s a l e s ...................... Cost of s a l e s ............... Int. fin. c h g s................ Fgn. exch. l o s s ........... Depr. & amortis. . . . . Other prov.................... Oper. in c o m e ............. Reorganization costs. Other in c o m e ............. Assoc, c o s ..................... T o t a l............................... Curr. trans. l o s s ......... Incom e t a x e s ............. Minority interest. . . . Co nso lidated B alan ce F I , 000): Assets: C a s h ............................... M k t se c u ritie s........... Receivables, n e t ......... Other c u r r e n t............. In v en to rie s.................. A ccount, y ears enOed 1980 43,489,548 37,516,916 1,389,609 cr8,258 1,972,000 473,195 2,146,086 398,018 310,760 69,125 2,127,953 241,521 818,981 158,703 908,748 Sheet, aa of 1979 35,527,338 31,144,896 961,854 27,605 1,549,697 172,299 1,670,987 416,512 485,465 14,919 1,754,859 462,820 474,815 160,892 656,332 D ec. 31 (in 1980 2,446,032 127,580 10,418,652 2,478,504 7,863,779 1979 2^15,712 171,226 7,930,381 1,957,901 5,344,009 Total current . . . Investor, advance . . . (Property, n e t........... G o o d w iil.n e t............. Oth. in ta n g ib le s......... 23.334,547 3,441,334 14,794,684 490,136 383,587 17,719,229 2,762,512 11,294,608 337,415 210,404 T o t a l .................... Liabilities: Due b a n k s .................... N otes d u e .................... T rad e p a y a b le s ......... Oth. pay. Sc accruals . 42,444,288 4,760,052 2,053,849 3,400,447 6,762,082 32,324,168 3,655,084 1,668,684 2,221,365 4,258,323 Total current . . . Long term debt . . . . . Deferred t a x e s ........... Other provisions . . . . Minority interest . . . . Capital s to c k ................ Capital surplus........... Retained earnings . . . T reasu ry s to c k ........... Stkhlors. equity . . . 16,976,430 9,597,206 449,940 2,335,215 4,083,865 3,465,000 578,209 5,258,902 300,479 9,001,632 12,073,456 7,254,672 600,930 1,653,773 2,298,655 3,465,000 578,209 4,699,952 300,479 8,442,682 T o ta l .................. A fte r d e p rec.___ 42,444,288 12,838,395 32,324,168 10,819,454 Long-Term Debt: O u tstg. D ec. 31, 1980, F F 9 ,597,000 6 % -1 3 % , th e w eighted average being approxim ately 10% . Capital Stock : A u thorized 34,650,000 sh ares; outstand ing, D ec. 31, 1980, 32,691,421 shares; in treasu ry , 1,958,579 shares; p a r F I 00. P a r valu e changed from F 75 to F 100 in 1974. In 1978, the sh are capital w as increased to F 34,650,000 b y th e issue of 49,500,000 new shs. o f F 100 n o m in a l v a lu e e a c h a t a n iss u e p ric e o f F I 20. C om pagnie Financiere de Suez (see M oody s B an k & Finance M anual) owns 18.3% o f capital stock. Q uoted on P aris Bourse. D ividends paid-- calend ar y e a rs (in old fra n c s): 1956 ......... 593.06 1957 ........... 561.9 1958 ........641.48 In francs (net): 1959 . . . . . . . 5 . 5 0 1960 ............. 6.00 1961 ............ 5.25 1962 ............. 4.75 1963 ............. 5.00 1964 ............ 5.25 Q 1 9 6 5 ............4.20 1966 ............. 4.20 1967-68 ......... 4.60 1969-70..........5.60 1971 .............. 6.20 1972. . . . . . . 7 . 0 0 1973 . . . . . . . 7 . 4 0 1974 ............. 8.80 1975 ............ 8.50 1976 ............. 9.10 1977-78...........9.70 1979 ...........10.70 1980 ............ 12.20 A ls o stock dividends: 1965, 10%; 1969, 25%. Am erican D epositary R eceipts. Issu e d b y M organ G u aran ty T ru s t Co., N ew Y o rk , on basis o f one A m erican sh are fo r each deposit ed share. O utstanding, n ot disclosed. D ividends: 1960,30.114 (in itial); 1961, 30.126 a n d 32.61 rights proceeds; 1962, 30.108 and 30.689 rights proceeds; 1963, 30.098; 1964, 30.104: 1965, 30.11, also 30.356 rights proceeds and 10% stock; 1966, 30.071; 1967, 30.09; 1968, 30.074; 1969, 30.091 and 2 5 % in stock; 1970, 30.08; 1971, 30.081: 1972, 30.101; 1973, 30.11; 1974, 30.106; 1975, 30.147; 1976, 30.128; 1977-78, 30.134; 1979.30.164; 1980,30.191; 1981,30.151. Traded: O TC. COMPAGNIE SAUPIQUET S.A. History: E sta b lish e d in F ra n ce . Business: Co. is an integrated producer of cann ed fish and vegetables as well as cooked m eat dishes; also produces frozen foods and operates its ow n fishing fleet. Subsidiaries and Affiliates Sau piqu et A llem agne Sau piqu et Belgique Saupiquet Portugal Saupiquet Arm em ent U .G .R . S.N .E .M .B . S.A .P .A .L . S.C .O JD .I. SA U P IQ U E T R O SS Management S y lv a in W ib a u x , P re s . Sc D ir. G en . Andre G am ier Jacq u es M achizaud R aym on d Lusinchi M arc Piron Je a n M orin Com pagnie de N avigation M ixte (represented by Em m anuel G autier) B&nque W orm s (represented by H ubert' D u m ont) A uditors: G e r a rd P e tite a u ; M ic h e l C h iro n ; Jean -L u c Poum arede, D eputy. Annual M asting: I n J u n e . No. of Em p loyees: D e c . 31 , 1981, 3 ,748, H ead O ffice: 128, b lv d . Ju le s -V e r n e , 4 4 3 0 0 N antes, France. Consolidated Incom e A cco u n t y e a rs D ec. 31 (in F F 1.000): 1981 1980 N et s a l e s ............... . 1,340,161 1,109,142 Other income . . , . 94,147 drl8,650 T o tal ...................... . 1,434,308 1,090,492 P u rc h a se s............. 871,386 628,088 Empl. exp .............. 251,923 215,646 Oth. oper. exp. . . . 284,666 239,233 Oper. income . . . . 26,331 7,525 Non-oper. inc. . . . 40,024 23,310 Non-oper. ex p . . .. 46,920 15,433 T a x e s ...................... 11,613 6,690 Nat In c o m e ........ 10,268 8,752 ended 1979 935,343 20,202 955,545 547,353 196,634 205,098 6,460 13,242 7,036 5,737 6,928 Consolidated B alan ce S h e e t F F 1,000): Assets: Cost of e s t a b .......... Property, etc., net . Other fix. assets . . . In v e n to r y ................ Curr. a sse ts............. 1981 22,984 106,010 12,253 491,801 204,660 as of D ec. 31 (in 1980 23,267 115,958 8,802 418,452 198,032 1979 23,573 123,547 12,486 438,528 142,795 T o t a l ................ Liabilities: Capital sto ck ........... Res. & minor int. .. Equip, subsidies. . . P rovision s............... Long-term debt . . . Sh.-tm. debt & ' accr. lia b ............ Earn, for y e a r......... 837,709 31,155 107,987 4^201 41,733 121,235 521,130 10,268 764,511 30,990 97,105 5,114 21,660 126,794 474,096 8,752 740,928 30,790 91,604 4,157 20,680 135,917 450,852 6.928 T o t a l ............... 837,709 764,511 740,928 Long Term D ebt: O u tstg ., D e c . 31, 1981, F F 81,017,000, consisting of: (1 ) F F 42,000,000 convertible bonds, (2 ) F F 39,017,000 oth er borrow ings. Capital Sto ck: Com pagnie Saupiquet S.A . sto ck; per FT 100: O utstg., D ec. 31, 1981, 309,899 sh ares; p ar F F io a D ividends P aid (sin ce 1974-- n et of ta x cred it): 1975...........F F 11 1976 . . . . F F 11.5 1977............ F F 10 1978-79 ............. 8 1 9 8 0 ..................11 1981 ................... 15 Listed: O n N antes Bourse. COMPTOIRS MODERNES S.A. H istory: E s ta b lis h e d in F r a n c e . In 1979, acquired E stablissem en ts B A D IN D EFFO R EY . A lso in 1979, increased in terest in P icard is from 11% to 71 % and interest in N esles from 34% to 99% . B u sin ess: C o . is e n g a g e d in o p e ra tio n , o f su perm arkets throughout F rance. Property: C o . o w n s a n d /o r le a s e s 1,339 stores, (275,156 sq. m .). Su b sid iaries Sogram o M .M . and C om pany S.A .M .G .S. LT Jn ion Com m erciale Superest N esles Badin-D efforey L io b a rd S o d ip ro Societe Econom ique de R ennes Offic e rs R a y m o n d G o u lo u m e s, P re s . Sc G e n . D ir e c to r Je a n E scorae, G eneral D irector D irecto r* Je an P lassaert M arcel Fournier G ustave G odard Pierre Ja rs R ene Jenny Claude Lesim ple Philippe R en ard Jacq u es Vigne A uditors: P a u l G a r c in a n d A n d re P u y s e r v e r . Annual M eeting: I n M a y . No. of Em p loyees: D e c . 31, 1980, 2,9 2 5 . Executive O ffice: 61 , ru e D e n is P a p in , 7 2 1 0 0 L e M a n s , F r a n c e . T el.: 8 4 -3 0 -5 0 . Consolidated Incom e A ccount, y e a rs sn d sd D sc. 31 (in m illions o f Sales. C ost of gds. so ld ......... Gross margin on sales Add. profits.................. Gross in c o m e ............. W ages .......................... Oth. oper. e x p e n .___ Inc. bef. deprec. of fin. exp..................... Finan. expens............... Deprec. ........................ Oper. in c o m e ............. Transf. surplus......... T axes ............................ Empl. profit shar. . . . French francs): 1980 6,217,000 5,684,100 1,284,300 72,400 1,326,700 773,300 348,200 235,300 400 95.100 136,800 18,100 62,200 12,900 1979 6,217,000 5,069,400 1,147,600 60,900 1,205,600 671,100 304,200 233,100 13.000 82,800 134,500 3,300 59,000 9,900 1982 MOODY'S IN T ER N A T IO N A L MANUAL sh L. eila s. JOSEPH LRAOMGBEERRS,T,APssuobcliiastheePr ublisher HOWARD G. k ied a isch , Associate Publisher MICHAEL BRIAN T. CA.OFrFaEbYb,iaM, aMnaagneargSeruMppalenmuaelnDt Depetp.t. ROBERT GILMOR, JR., Director--International Dept. ROBERT P. HANSON, Editor-in-Chief Editorial Staff ALFRED G. ELLINGHAM MARIE P. GILBERTSON ALVIN E. GOUVIA JOHN J. IERACI DIANE R. KRUTZ WILLIAM H. MOORE WILLIAM M. PACCIONE FRANK R. PLATAROTE BERNARDO G. SCERI, JR. EARL STEPHENS Moody's Investors Service a company of The Dun & Bradstreet Corporation SEE FOLLOWING PAGE FOR COMPLETE LIST OF OFFICES Copyright 1982 by MAlOl rOigDhtYs SreIsNerVvEeSd.TORS SERVICE, INC. New York