€ 477M Investment in Chamonix Ski Resorts

Thursday 14 November 2013 The Compagnie du Mont-Blanc announces an outline plan for the Chamonix Lift System and Ski Area Management Contract which includes a €477 million investment until the year 2043. The contract is limited to the resorts of: Brévent, Flegère, Le Tour and Les Grands-Montets.

The Board of Directors of The Compagnie du Mont-Blanc signed the new contract with the Municipality of Chamonix on Wedneday 13 November 2013.

The contract is the result of 11 months of intense negotiaton. In December 2012, the Chamonix Municipality and the Compagnie du Mont Blanc terminated, by mutual agreement, all Lift Operation and Ski Area Management contracts, with the exception of the Aiguille di Midi and Montenvers Funicular. The contract to operate Chamonix Brevent - Flegere, Le Tour / Balme and Les Grands Montets was put out to tender. Initially, two companies declared an interest to operate the ski areas, the CMB and the SEPP. In July 2013 only one bid was submitted by the CMB.

The Contract still has to be ratified by the town council at a meeting on December 4 and signed by the mayor of Chamonix, Eric Fournier.

Investment Plan

The CMB plans to invest in the ongoing development of the ski areas, to both improve the customer experience and to sustain the long-term economic viability of Chamonix.

€ 477 million will be spent over the next 40 years.

In the first six years, before 2020 the CMB will build three new cable cars, two chairlifts and two new beginner areas: