Siemens and Alstom couple train units

26 Mar 2018

PARIS, France - The maker of France's iconic TGV trains Alstom and German industrial leader Siemens have signed an agreement on creating a global leader in the rail industry.

The Business Combination Agreement (BCA) sets the terms of combining Alstom with Siemens' mobility business, including its rail traction drive business, after the two firms unveiled their plans last year.

"With the signing of the BCA, we have reached an important milestone on the way to building a new leader capable of tackling the challenges of tomorrow's mobility," said Henri Poupart-Lafarge, the chief executive of Alstom who will be the CEO of the new company, in a statement.

Airbus, Rolls-Royce, Siemens partner to launch E-Fan X

5 Dec 2017

Roland Busch, a member of the management board of Siemens, is to serve as chairman of the board of directors of the combined entity, which is to be based in France.

Siemens will control 50% of Alstom immediately but will be blocked from taking a bigger than 50.5% stake for the four coming years.

Alstom trade unions objected to the merger, fearing job cuts and closures.

An 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 €9.5bn.

Buses could be history sooner than you think - here's why

Marcus Mayers, David Bamford 12 Mar 2018

The merger will create the world's top firm for rail signalisation and the number two for building train carriages, which should help the firms face rising Chinese competition.

The merger is expected to be completed by the end of the year.

Alstom employs 32,800 people worldwide while Siemens Mobility has 28,800 staff.

Source: AFP

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za