C3D SA, the large Paris-based housing equipment and local government consultancy group controlled by the Caisse des Depots group, has announced that it is disposing of or restructuring five of its 42 operating divisions, among them the software and engineering services company Sinorg, and Morpho Systemes, a specialist in optical recognition of fingerprints. For 1990, Sinorg made losses of $10m, while Morpho and its US subsidiary Namsi recorded net losses of $20m – losses put down to the domination of NEC Corp in the fingerprint recognition business. At a press conference in Paris last week, C3D’s president Jean-Marc Michel stated that the group intended to separate itself from Sinorg, and expected that Morpho would be integrated within a powerful, non-French computer company. After all these restructurings, C3D looks to return to profits next year. C3D is a highly diversified holding company with annual sales of some $1,500m, and also has interests in such activities as running five Paris golf courses, exporting hospital equipment and organising ski travel.
