European Champion In The Rail Industry


The engineering giants Alstom and Siemens are to tie up their rail operations. Alstom of France and Germany’s Siemens say that the merger will create a new “European champion in the rail industry”. The new group,which will be led by Alstom’s chief executive Henri Poupart-Lafarge will be called Siemens Alstom and is expected to compete against China’s state-backed operator CRRC. Alstom makes TGV trains in France while Siemens makes the equivalent ICE inter-city trains that run on German long-distance routes. The French government,which owns around 20 percent of Alstom will shed its stake as part of the deal.

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