Concarneau team executives bought the naval group Piriou
Posted on Jan 30. 2020 at 10:35
The brothers Jacques and Pascal Piriou unleash the bar. They split in 1965, the eponymous shipyard created by their father and uncle at the port of Concarneau, where still is the main base of the company.
The 13 executives steering committee led by the Director General Faujour Vincent, now CEO, share 60% of the shares. The remaining 40% are split between Arkéa banks, Credit Agricole (Idia) bpifrance and Africinvest. “Our intention, says Pascal Piriou, is to see the decision to remain in the hands of the leaders of the group.”
Specializing in the repair and shipbuilding, Piriou built 500 boats since its origin. It focuses on units of about 120 meters long. To his credit, including the tuna company Sapmer Hot sauce but that recently he ordered a first vessel 67 meters long. It will be delivered end of 2020.
An order of 12 minesweepers
Piriou also built many trawlers and a few years of military vessels for France and abroad. A niche market that guarantees significant future contracts. Three patrol boats are planned for Argentina (order of € 300 million) and 12 mine hunters will gradually be made to the Belgian and Dutch armies. The first will be delivered in 2023, a market of 2 billion won by Naval Group, the Piriou partner. They have in common the site kership based in Lanester (Morbihan). Last year Piriou which employs nearly 1,000 employees achieved a turnover of 200 million euros.
It has adapted to the relentless development of the Navy. Lower trawlers orders was offset by more buoyant sectors such as, for example, supply vessels for oil.
In 2006, Piriou feeling that he had to limit its costs for labor, opened a construction site in Vietnam. Meanwhile, it has opened several subsidiaries abroad repair and construction, Senegal, Nigeria in Dubai, but also in Algeria and Ivory Coast.