Friday, November 22, 2024

GE to Make Detailed Commitments on Jobs in Alstom Deal

Posted by May 27, 2014

General Electric will make precise commitments to increase jobs in France as part of its efforts to seal a deal to buy Alstom's power arm, GE Chief Executive Jeff Immelt said on Tuesday.

During a hearing about GE's 12.35 billion euro ($16.9 billion) bid for Alstom's power business, Immelt also said his group was considering a tie-up in rail signaling that would give the French engineering group control of that business.

The French government has criticized the U.S. company's bid, citing concerns over domestic jobs and saying a straight sale of the power arm would weaken Alstom by reducing it to its smaller rail business.

(Reporting by Natalie Huet; Editing by Astrid Wendlandt)

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