Comment

Date: 2015-10-07; view: 667.

The company or may sell off some of the land to finance the acquisition.

Metrot's biggest asset is its valuable land. Cornerstone could use this to grow

It will use Metrot as a base for launching its own products in Europe.

Cornerstone will expand sales of Metrot products in Europe.

Reasons for Cornerstone's acquisition

Recent Developments

Providing services and products for the oil, gas and electricity industries.

Main Activities

Company Cornerstone group

Background Company Profile

Taken over

Case study Acquiring Metrot: Agree on changes at a company that has been

Make notes under the headings below.

Listen to the second part of the interview. Jeremy talks about a situation in which change was handled well.

Listening 2

Make a list of your own reasons.

Situation Chief Executive Communication Difficult decisions

Workforce 35,000

Turnover $4.1bn

Located Dallas, US

Net profit 11% of turnover (approx.)

Cornerstone have recently bought the French white goods company, Jean Metrot. Jean Metrot are well-known for producing cookers and refrigerators, as well as the range of household appliances. They have their headquarters to the east of Paris, and two other factories in the North of France.

Metrot is an excellent acquisition. There may be problems when US style management is introduced. Metrot has always been family-owned, and Chief executive, Jean Metrot, takes a personal interest in his employees.

The new Chief Executive will be Hugh Whitman. In his early 30s, trained at Harvard University, Whitman was formerly Executive Vice President of the Cornerstone Group.

Jean Metrot will remain on the board as an adviser.