The chip manufacturer, that the manufacturer had secretly bailed out with millions before the 2010 municipal elections, is on the brink.

Corbeil: the rout of Altis, a symbol of Dassault System

When it comes to winning elections in his city of Corbeil-Essonnes, Serge Dassault is known to be generous. In 2010, just before the municipal, former UMP mayor had secretly financed the recovery of the chip plant Altis largest employer in the city with 900 employees. “Without me, Altis would not have been saved,” then trumpeted the aircraft manufacturer. But four years later, the company is, according to our information, at the brink. And justice has opened a preliminary investigation for “abuse of company assets” aimed Sabeg, the liege Dassault instructed to buy the plant in its place.

The last published accounts, that Liberation consulted are very worrying. Altis has lost 46 million euros in 2013 to 74 million turnovers. The auditors have even highlighted the “uncertainty over the going.” And for good reason: Altis came close to bankruptcy in December 2013 because the company was unable to meet its financial commitments. According to a spokesman, the manufacturer, however, came in July an agreement with the banks, the state and its shareholders, which has avoided filing for bankruptcy.

Unwillingly. The series is somewhat incredible. After invalidation in 2009 for “gifts of money” at Corbeil voters, Dassault Instructs its employee, Jean-Pierre Bechter, to be elected in his place. But in March 2010, Bechter sees his mandate also invalidated, must leave the field. While IBM and Infineon giants threaten to close Altis, they manage to sell. What stopping the campaign of Jean-Pierre Bechter.

Without a buyer, Dassault decides to buy Altis. But he does not want anyone to know, not to have to assume a failure, and not to be accused of buying the election. Officially, he “convinced” his friend Sabeg, head of the IT company C & S and Commissioner Government of Diversity Fillon investing. In reality, this is Serge Dassault lengthening money Sabeg (total 60 million) through loans advantageous if they fall under the sponsorship (1). The Dassault influence wonders. President Sarkozy, who has nothing to deny the owner of Figaro, Claude Gueant load to twist the arm of the Strategic Investment Fund and OSEO (now merged into BPI France) lending reluctantly 40 million public money to Altis. Qataris, Nicolas Sarkozy and friends Sabeg, inject the same amount to enter the capital.

New check. The challenge is immense. Sabeg must transform Altis standalone company capable of designing its own products. In the end, nothing happened as planned. When he completed in 2012, its declaration of interests senator Serge Dassault had to admit that he was the patron of Altis. And the company sank into crisis. Between 2010 and 2013, its turnover has shrunk by 60%, with 174 million of cumulative losses! So, it remains only 61 million into the coffers of the two holding companies that control plant (see below). Not enough to take a long time if the deficit persists. Especially must qu’Altis 62 million to banks and BPI France. Besides the 55 million debt and unpaid accrued from its suppliers, settled dropper.

At Corbeil, employees linked periods of partial unemployment (ten days a month since January), for lack of activity. “The situation is catastrophic,” worries a trade unionist. “Altis, I reported back in with a blinking red,” says a close case at Bercy.

Not enough to engage the faith of Sabeg, affecting a comfortable compensation 458 000 per year (2). His spokesman assured that “the allegations regularly announce an upcoming Altis Group of bankruptcy is unfounded,” adding that “this year, Altis has restored its profitability.” Sabeg yet keeps evoking a return to the green in the official accounting report, predicting only that a “significant increase in activity is highly probable.”

As revealed Charlie Hebdo, the majority shareholder of Altis is also subject to a preliminary investigation for “abuse of social property” opened in September 2013. The Paris prosecutor seeks to verify if it has not used the money that was lent Serge Dassault against the interest of the company. These “allegations” do “are intended to harm Altis and its leaders,” responds his spokesman.

There remains whether Serge Dassault, also indicted for “vote buying” would be ready to sign a new check if needed. “Everything depends on Dassault. Without him, we would already be dead. Some internally think it will still save us, “said an employee of Altis. One hypothesis swept by a close case convinced that “Sabeg will not ask Mr. Dassault give money.”

(1) The first is refundable after fifteen years, the second when the Sabeg wish!

(2) Benefits in kind included.