Veolia to Cut Cost of Providing Water Services, Le Figaro Says

Veolia Environnement SA (VIE) plans to cut costs in its water service business as margins in France shrink, Chief Executive Officer Antoine Frerot told Le Figaro.

The utility, based in Paris, will centralize the services operation as margins are expected to fall by half as contracts are renewed through 2015, Frerot was quoted as saying.

Veolia is also seeking new markets for services such as dismantling and decontaminating nuclear sites, the daily said. The utility called a briefing to detail nuclear plans next week.

To contact the reporter on this story: Tara Patel in Paris at tpatel2@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.