Alstom and Balfour Beatty announced Wednesday the creation of a new joint venture company, Signalling Solutions Ltd.
The two companies hold a 50% stake respectively.
The new structure will be responsible for contracts worth more than $140 million.
Approximately 340 people from Alstom and Balfour Beatty will work for the new company, which has offices in the U.K.
Drawing on both partners’ extensive experience of signaling systems across the globe, Signalling Solutions’ collective in-house expertise offers a complete range of capabilities including planning, design, product supply, installation, testing and commissioning for all types of railways.
The new company combines the resources of Alstom Transport Information Solutions and Balfour Beatty Rail Projects to support the railway signaling markets in the U.K. and Ireland, worth an estimated $1 billion.
Several projects of re-signaling and enhancement of existing systems are planned.