Alstom wants to be a rail signaling consolidator - Newswire Round-up
Alstom [EPA:ALO}, the French conglomerate, will continue to look for acquisitions in rail signaling following its purchase of GE's [NYSE:GE] business in the sector, according to a newswire report.
Henri Poupart-Lafarge, head of Alstom Transport, told reporters at the InnoTrans biennial rail trade fair that Alstom would seek opportunities in the consolidating area.
The executive did not disclose specifics but said Alstom would also consider joint ventures. He also said industrial shareholders would be welcomed, naming Russia's Transmashholding, in which Alstom already holds 25%, as one potential such partner. The Russian political situation has not affected any daily operations but both companies are closely watching events in Ukraine and hope they will ease, Poupart-Lafarge added.
The French government has an option to take up to a 20% Alstom stake, which was one condition for allowing Alstom to sell most of its energy business to GE for EUR 12.4bn. Poupart-Lafarge said this would just strengthen Alstom.
Alstom is the world's fourth-largest railway equipment provider, behind China-based CNR [HKG:6199] and CSR [HKG:1766] and Canada-based Bombardier [TSE:BBD], and it leads Germany's Siemens [XETRA:SIE].
Newswire Round-up