Alstom, Siemens Creating Rail Champion
Alstom, Siemens Creating Rail Champion

Alstom, Siemens Creating Rail Champion

Alstom, Siemens Creating Rail Champion

The maker of France’s iconic TGV trains Alstom announced a “merger of equals” with German industrial leader Siemens in a politically tricky deal to create a new European rail champion, AFP reported. The group headquarters will be in the Paris area and 50% of the shares in the new entity owned by Siemens, an Alstom statement said. “We are creating a new European champion in the rail industry for the long term. This will give our customers around the world a more innovative and more competitive portfolio,” said Joe Kaeser, president and CEO of Siemens AG. The Alstom-Siemens merger has been mooted for years and completes the transformation of the French group which sold off its energy business to American rival General Electric in 2015 for €9.5 billion ($11.3 billion). The French state has shed its stake in the new entity, which has an order backlog of €61.2 billion and a combined revenue of €15.3 billion, according to information from the last annual financial statements of both groups.


Short URL : https://goo.gl/YLKg1p
  1. https://goo.gl/QdWSRp
  • https://goo.gl/iPR6b6
  • https://goo.gl/gyRK9c
  • https://goo.gl/4k82Df
  • https://goo.gl/Sr9beU

You can also read ...

According to the new regulations, Cubans will be able to hold only one business license.
The Cuban government has said it wants more foreign investment...
The lira has lost around 45% of its value against the US currency this year, largely over worries about Erdogan’s influence over the economy
Turkey’s central bank on Monday announced it was ready to take...
Trump’s No-Win Trade War
President Donald Trump’s trade war may be fated to fail, for...
World Stocks, Currencies Plummet
World markets shuddered on Monday, as Turkey’s worsening...
Amado Boudou (R) attends his trial on corruption charges  in Buenos Aires on August 7.
Records kept in notebooks of the kinds used by schoolchildren...
(P)GCC Banks  Face Business Risks
A number of (Persian) Gulf Cooperation Council banks that have...
Singapore Warns Trade Tensions May Lower H2 Growth
Singapore authorities warned of slower economic growth in the...
China Printing Foreign Money
China is printing more foreign money as it seeks to expand its...

Add new comment

Read our comment policy before posting your viewpoints