In February we welcomed Mr. Franck Riester, Minister of Foreign Trade and Attractiveness, accompanied by a delegation of officials to our headquarters in Angouleme. This visit was an opportunity for fruitful exchanges on our technologies, our businesses and the innovation and transformation processes we have undertaken in recent years. 

In the energy transition context, one of the major challenges is to optimize the efficiency of our products. The creation of an open innovation center will enable us to be at the cutting edge of materials and to develop synergies with other companies. The creation of this center of excellence in technology is part of a major transformation project involving the moving of two industrial sites and the centralization of management at the Sillac site in Angouleme, France. This is a 15-million-euro project that will increase production capacity by 30%. Not to mention the benefits of bringing all research and development activities together on a single site.

Mr. Riester insisted on the need for French companies to expand internationally. Nidec Leroy-Somer is a perfect example of success in this matter, since over 90% of our production is exported. Moreover, Nidec's recent investment in Leroy-Somer confirms the attractiveness of this strategy based on innovation and international development.

This visit is a recognition by the French government of the competitiveness of our company on a global scale and a proof that we are on the right way to maintain our position as the world leader in alternators.

A big thank you to Mr. Riester for his visit!