Metroservice SA, controlled by the French state-owned Credit Lyonnais bank, is to merge with two other subsidiaries of the bank, Tasq SA and SMT Technologies SA. The merger, scheduled to take place at the beginning of next year, will produce a major player in the third-party maintenance market to compete with Thomson SA’s Thomainfor, according to Metroservice’s financial director, Toan Nguyen. Metroservice recorded net losses equivalent to $6.2m for 1990, against profits of $1.7m in 1989 costs of $4.5m were amassed following heavy restructuring and the streamlining of its maintenance coverage. The merger will almost certainly be structured around Tasq, Credit Lyonnais’ oldest subsidiary. Yet to be decided, though, is the source of the new company’s capital, beyond financing from majority-owner Credit Lyonnais. SMT Goupil SA, which is no longer associated with SMT Technologies and is itself in deep trouble, holds a 20% stake in Metroservice and a small stake in Tasq, but given all its present difficulties, SMT Goupil will likely disassociate itself completely from the enlarged company once the merger is done.
