Rail

Alstom CEO says, rail division not for sale

Posted on December 16, 2003

French industrial giant Alstom has no intention of selling its rail division despite the firm's financial difficulties, said its chief executive, according to a Canadian Press report. Patrick Kron, on a North American tour to reassure customers and suppliers, said his company's rail division, a competitor of Montreal-based Bombardier Inc., is performing well. Besides rail, Alstom is active in power generation and transmission and ship building, but the French governement has had to step in with a proposed $2.4 billion in direct aid to help Alstom through a difficult period during which it laid off 7,000 employees, said the press report. Alstom competitors and the European Commission are contesting the subsidy. Since there are very few rail manufacturers, Europe's antitrust authorities are worried about Alstom's rail and turbine assets falling into the hands of a competitor and reducing competition. Alstom Canada, which employees some 1,800 people, with an annual sales of $377 million, recently closed its transport division based in Montreal after losing a refurbishment contract to Bombardier.

View comments or post a comment on this story. (0 Comments)

More News

Sound Transit secures $88M loan for light rail ops, maintenance facility

The credit agreement is the first of its kind in the nation in supporting four separate Sound Transit projects. It is expected to yield regional taxpayers long-term savings of between $200 million and $300 million in reduced borrowing costs.

Alstom receives contract for Ottowa light rail expansion

The contract is worth almost $223.9 million and part of an effort to extend the Confederation Line further east by 7.5 miles and west by 9.3 miles.

MARTA launches initiative to aesthetically enhance rail stations

The authority kicked off the newly established “Artbound” program with an inaugural launch event featuring dancers and musicians at Five Points MARTA Station this week.

Alstom-equipped Bangalore Metro Green Line launches service

It includes the Urbalis 200 Automatic Train Control system, which will ensure optimal safety, flexible operations, and heightened passenger comfort, according to the company.

Bombardier wins major UK rail, maintenance contract

In addition, the company will execute a Technical Services and Spares Supply Agreement for the duration of the seven-year franchise, with an option to extend for 11 periods in line with the existing franchise extension option.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close