• MILITARY: Brazil-France submarine programme (Graphic DUE Mar 28, 15:00GMT)
  • SPACE: Calls for protected moon sites (Graphic DUE Mar 28, 16:00GMT)
  • ACCIDENT: Why did Baltimore bridge collapse? (Graphic DUE Mar 28, 17:30GMT)
  • For full details of graphics available/in preparation, see Menu -> Planners
Graphic shows annual revenue of CRRC, Alstom, Siemens, and Bombardier.
GN35828EN

BUSINESS

Alstom, Siemens sign rail deal to create European champion

By Jordi Bou

September 27, 2017 - France’s Alstom and Germany’s Siemens have agreed to merge in a deal that brings the former arch-rivals together to create a new European champion to counter competition from China.

If the transaction goes ahead the combined company will have 15 billion euros ($18 billion) in sales of trains, track-signalling systems and rail services, enabling it to better compete with international rivals, especially China’s state-backed CRRC.

It would also signal a shift in France’s policy of industrial intervention under President Emmanuel Macron in favour of creating “European champions” — even if that means selling industrial assets that were once deemed strategic.

Sources
PUBLISHED: 27/09/2017; STORY: Graphic News; PICTURES: Getty Images
Advertisement