Power

France's Alstom Plans $3.18-Billion Disposal of Power Ops

(enr.construction.com - 3/12/03)

From Platts

French industrial group Alstom today announced plans to raise $3.18 billion from the sale of its power transmission and distribution equipment operations and its power turbine sales division.

Weakening conditions in the global power markets, especially in the United States, and a reduction in the building of new gas-fired powerplants for the sale of the power operations were the main factors cited by Patrick Kron, Alstom's new chairman and chief executive. Since half of its sales of distribution and transmission lines and turbines is in the U.S., Alstom said it was forced to take this action. The remaining operations will be reorganized into five divisions refocusing on power services, sales of environmental control units to power stations and sales of steam turbines and generators, markets where the company still sees growth. The company will keep its rail and maritime operations.

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