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Rail News: M&A
Alstom Transport recently announced plans to sell its United Kingdom-based heavy train renovation business to Railcare Ltd., a group of rail market personal investors. The company expects to close on the transaction by the end of first-quarter 2007.
Earlier this year, Alstom conducted a review of its U.K. renovation business, which registers annual sales of about $80 million and employs 430 people. The business is “similar in nature” to the company’s rolling stock manufacturing work, which Alstom no longer conducts in the U.K., and the division’s profitability was “not in line with Alstom’s targets,” according to the company.
Once the sale is complete, Alstom will continue to serve the maintenance, electrical renovation, and parts and signaling markets in the U.K.
12/5/2006
Rail News: M&A
ALSTOM to sell U.K. train renovation division to investor group
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Alstom Transport recently announced plans to sell its United Kingdom-based heavy train renovation business to Railcare Ltd., a group of rail market personal investors. The company expects to close on the transaction by the end of first-quarter 2007.
Earlier this year, Alstom conducted a review of its U.K. renovation business, which registers annual sales of about $80 million and employs 430 people. The business is “similar in nature” to the company’s rolling stock manufacturing work, which Alstom no longer conducts in the U.K., and the division’s profitability was “not in line with Alstom’s targets,” according to the company.
Once the sale is complete, Alstom will continue to serve the maintenance, electrical renovation, and parts and signaling markets in the U.K.
