France's Alstom exceeds cash expectations due to strong orders and cost control
Alstom, the French train manufacturer, beat expectations on Wednesday for its cash position half-year. This was due to increased volumes and cost savings initiatives. Alstom, a manufacturer of trains and signalling for urban and regional railway networks, reported an outflow in cash of 138 millions euros ($146million). According to a consensus compiled by the company…
France Approves of Siemens/Alstom Tie-up if Jobs Spared
France has nothing against a potential tie-up between German engineering group Siemens and Alstom if the deal does not bring job cuts, the French government's spokesman said on Friday. Earlier on Friday, Le Monde newspaper reported Siemens was in advanced talks to combine its rail activities with Alstom in a deal that could be announced on Sept. 26.
Siemens CEO Declines Comment on Reports of Delays to Gamesa Deal
Siemens Chief Executive Joe Kaeser declined to comment on Friday on media reports of a delay in the planned merger of its wind power business with Spain's Gamesa. He was asked about the reports at a discussion event hosted by the Rheinische Post newspaper on Friday. Gamesa said in January it was in talks with Siemens to create a world…
Siemens CEO Confirms Delays with Gamesa Deal
Siemens Chief Executive Joe Kaeser confirmed a delay in the planned merger of its wind power business with Spain's Gamesa, declining to comment on the reason. "The media reports are correct," he said at a discussion event hosted by the Rheinische Post newspaper on Friday. He did not elaborate. Gamesa said in January it was in talks…
China Considering Merging State Oil Firms -WSJ
China is considering combining its huge state-controlled oil companies to better compete with the world's biggest producers, the Wall Street Journal reported. Companies being considered for mergers include China's largest oil producer, China National Petroleum Corp, and its main domestic rival and refiner, China Petrochemical Corp or Sinopec…
Western Train Makers Fight Back with Hi-tech Interiors
Trains are likely to become more like long-haul planes, with customised carriages and tablets embedded into hi-tech seats, as Western manufacturers fight back against cheaper Chinese rivals and Europe's railways open up to greater competition. Europe's rail passengers may feel their comfort has long been overlooked by an industry still…
GE, Siemens Defend Rival Plans For France's Alstom
General Electric and Siemens defended rival proposals to buy the power arm of Alstom on Tuesday, both assuring France that its prized engineering firm would emerge strengthened, including in its remaining transport business. Top executives for both groups told lawmakers their plans were good for Alstom, for France and its jobs, as…
