9/29/2017
Alstom and Siemens Creates a New European Champion
Henri Poupart-Lafarge, Chairman and Chief Executive Officer of Alstom SA: "Thanks to its global reach across all continents, its scale, its technological know-how and its unique positioning on digital transportation, the combination of Alstom and Siemens Mobility will bring to its customers and ultimately to all citizens smarter and more efficient systems to meet mobility challenges of cities and countries."
Joe Kaeser, President and CEO of Siemens AG: " We put the European idea to work and together with our friends at Alstom, we are creating a new European champion in the rail industry for the long term. "
The two leader players of the global railway market, French Alstom SA and German Siemens AG announced combination and creation of a new European innovative giant. A joint press release says that Siemens and Alstom have signed a Memorandum of Understanding to combine Siemens’ mobility business including its rail traction drives business with Alstom. Siemens will receive newly issued shares in the combined company representing 50 percent of Alstom’s share capital on a fully diluted basis. The new entity will benefit from an order backlog of €61.2 billion, revenue of €15.3 billion, an adjusted EBIT of €1.2 billion and an adjusted EBIT-margin of 8.0 percent, based on information extracted from the last annual financial statements of Alstom and Siemens. Global headquarters as well as the management team for rolling stock will be located in Paris area and the combined entity will remain listed in France. Headquarters for the Mobility Solutions business will be located in Berlin, Germany. In total, the new entity will have 62,300 employees in over 60 countries. Henri Poupart-Lafarge, Chairman and Chief Executive Officer of Alstom SA Henri Poupart-Lafarge, Chairman and Chief Executive Officer of Alstom SA made the following statement; “Today is a key moment in Alstom’s history, confirming its position as the platform for the rail sector consolidation. Mobility is at the heart of today’s world challenges. Future modes of transportation are bound to be clean and competitive. Thanks to its global reach across all continents, its scale, its technological know-how and its unique positioning on digital transportation, the combination of Alstom and Siemens Mobility will bring to its customers and ultimately to all citizens smarter and more efficient systems to meet mobility challenges of cities and countries. By combining Siemens Mobility’s experienced teams, complementary geographies and innovative expertise with ours, the new entity will create value for customers, employees and shareholders. I am particularly proud to lead the creation of such a group which will undoubtedly shape the future of mobility.” Siemens AG'nin Başkanı ve CEO'su Joe Kaeser: Joe Kaeser, President and CEO of Siemens AG made the following statement; “This Franco-German merger of equals sends a strong signal in many ways. We put the European idea to work and together with our friends at Alstom, we are creating a new European champion in the rail industry for the long term. This will give our customers around the world a more innovative and more competitive portfolio. The global market-place has changed significantly over the last few years. A dominant player in Asia has changed global market dynamics and digitalization will impact the future of mobility. Together, we can offer more choices and will be driving this transformation for our customers, employees and shareholders in a responsible and sustainable way.”
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