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Alstom

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Alstom

Type	Public (Euronext: ALO)
Founded	1928 (Alsthom)
Headquarters	Levallois-Perret, France
Key people	Patrick Kron, Chief Executive Officer and Chairman
Industry	Manufacturing
Products	Equipment and services for power generation and rail transport
Revenue	€ 14.208 billion (March 2007)
Employees	65,000
Website	www.alstom.com

Alstom (formerly GEC-Alsthom) (Euronext: ALO) is a large French multinational conglomerate whose businesses are power generation, railway signalling; and manufacturing trains (e.g. the TGV and Eurostar as well as Citadis trams) and the world's largest ships (e.g. Normandie and the Queen Mary 2). According to the company website, in the years 2006/07 Alstom, had annual sales of over €14 billion, and employed more than 69,000 people in over 70 countries. Its headquarters are located in Levallois-Perret, near Paris. The current CEO is Patrick Kron, who succeeded Pierre Bilger.

1 Financial information
2 History
3 Products
4 Rail clients
5 Power clients
6 See also
7 External links

Financial information

Alstom has been listed on the Paris Stock Exchange since June 22 1998. The Group has not been listed on the London Stock Exchange since November 17 2003, nor on the New York Stock Exchange since August 2004. When the markets closed on December 31 2005, its market capitalization was € 6.7 billion. Market capitalization as of March 9 2007 was € 13.6 billion.

History

The name of the company derives from the region of Alsace and the surname of the engineer Elihu Thomson. The th sound in the is therefore hard, as it would be in French anyway.

Alsthom

It was formed in 1928 from three companies: Société Alsacienne de Construction Mécanique, Compagnie Générale d'Electricité (CGE) and Thomson Houston.

The old GEC Alsthom Logo.

GEC Alsthom

It was formed in 1988 from the heavy engineering interests of Britain's GEC and Compagnie Générale d'Electricité's Alsthom division as GEC Alsthom. In 1991 GEC adopted the name Alcatel Alsthom and in 1998 this became simply Alcatel. In 1989 the company acquired the railway interests of Metro Cammell, and maintained train production at its Birmingham plant until 2005. Today Alstom's heavy rail interests in the UK are limited to various maintenance facilities up and down the railway network.

Alstom

In December 1997, GEC Alsthom had its initial public offering as Alstom. GEC and Alcatel maintained 24% shares in the new company. Shares were initially at a price roughly equivalent to €32. In 1998, Alstom acquired railway signaling companies in Italy (Sasib Railways) and the United States (General Railway Signal) from their Italian parent company Sasib. Between January and February 2001 Marconi plc (the renamed GEC) sold 76.4% of its 24% share. The remaining 5.67% share was sold in June. In 2001, Alcatel also sold its 24% stake. The share price fell steeply following the September 11, 2001 attacks when a number of cruise liner orders failed. At the same time, a number of problems became apparent in the new generation of gas turbines, GT24 and GT26, Alstom installed around the turn of the century. The financial liability for repairing these problems pushed Alstom into a financial crisis. On March 12 2003, shares dipped 50 per cent in one day, and finished at €1.36. At this point it was announced that the most profitable division of the company would be sold off: its power transmission interests. In January 2004 these were transferred to Areva. Only through a much needed financial infusion from the French government was Alstom rescued from going into bankruptcy. The 21% of the stake the French government took as the result of rescue was later sold to the French company Bouygues, one of the world's largest construction companies. In 2003, Alstom purchased Telecite, a passenger information company in Montreal, Quebec in Canada. In January 2006, the sale of Alstom shipyards to Aker Yards ASA (a part of the Norwegian Aker group) was announced. The transaction was completed on May 5 2006. A new company consisting of Alstom's shipyards in Saint-Nazaire and Lorient was established under the name of Aker Yards SA. Aker Yards owns 75% of Aker Yards SA, and ALSTOM the remaining 25% until 2010. In March 2006, the Power Conversion Business, formerly Alstom Power Conversion (APC), was bought by Barclays Private Equity France (BPEF). The Power Conversion Business, which deals in projects and hardware to convert electrical power to mechanical movement, now trades as Converteam. The U.S. headquarters for Alstom Power is located on Day Hill Road in Windsor, Connecticut at the former location of Combustion Engineering. The Country President is Tim Curran.

Products

Alstom's products include:

Passenger Rail Vehicles

Amtrak California passenger cars
Coradia and Adelante trains
Juniper trains
San Francisco Bay Area Rapid Transit (BART) District C (C1) cars (Built in 1980s)
Citadis trams
Chicago Chicago Transit Authority trains
Federal Rail Express electric locomotives.
Metropolis Urban trains
Indian Railways LHB passenger coaches
Israel Railways JT42BW and JT42CW locomotives
Korail EL 8000 locomotive
Korail KTX (TGV Corèe) High-speed passenger cars
London Underground 1995 and 1996 stock
New Jersey Transit Rail Comet V passenger cars and PL42AC locomotives
New York City Transit R160A cars
Pendolino trains
Prima diesel and electric locomotives
Sarajevo Unterground high-speed trains
SNCF electric locomotives.
TGV high-speed trains
Various metro trains
X'Trapolis Suburban trains
X60 Train Suburban trains
4th generation S-trains Suburban trains
NS Class 1600/1800
NS Class 1700

Railway Signalling Equipment

Shipbuilding — Alstom Marine (Chantiers de l'Atlantique)

The Queen Mary 2

Power business

Boiler and Boiler Retrofits
Environmental Control Systems (Air pollution control systems, filters etc) for the power industry and various other industries
Gas turbines
Generators
Steam turbines
Steam turbine retrofits
Turnkey power plants
Wind Energy