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General Electric : Sales increase for Alstom

01/25/2015 | 12:00am US/Eastern

Sales at the international engineering firm stood at £1.1 billion over the third quarter of 2014/15 - up 10 per cent.

American company General Electric is currently in talks with the French-owned firm over a possible takeover deal of the power equipment business.

The power arm includes Alstom's factories in Stafford, which employs around 1,700 people.

Bosses said the increase of sales was down to the deliveries of regional or mainline trains in France, Germany and Italy as well as by high-speed trains in Switzerland and Poland and tramways in Dubai.

Last month bosses revealed plans to build a new multi-million pound centre for hundreds of staff at Redhill Business Park.

The firm's order book also reached £1.2 billion for the third quarter.

From April to December last year, Alstom's order intake reached £6.1 billion - a 52 per cent increase compared to the first nine months of 2013/14.

The firm said it was thanks to a number of large orders booked over the period, including a £3 billion contract for suburban trains in South Africa.

The group's sales amounted to £3.5 billion, up 12 per cent compared to the first nine months of 2013/14.

The company is selling most of its power equipment business to General Electric (GE) and said it had struck additional commercial agreements with GE worth 400 million euros.

The extra proceeds, flagged late last year, should help the group mitigate the impact of a record £508 million fine it faces in settlement of bribery allegations.

Last month, the company announced plans to build a new multi-million pound centre at Redhill Business Park and open it by the end of 2016, when the firm's UK automation activities will move from its current location at its St Leonards site.

The business will be the first company to move onto the county-council developed business park and the scheme has been welcomed by council chiefs.

It will house 400 staff, but is not currently expected to create new jobs.

The automation division makes high-tech electronic equipment that helps companies like National Grid control the flow of electricity.

A planning application has been lodged with Stafford Borough Council.

Around 1,400 people work for Alstom's Grid business in Stafford, with another 300 in the company's thermal power unit, making the company the town's largest private sector employer.

In the UK, Alstom is active in the rail, power and electricity transmission sectors, operating from 30 sites and employs more than 6,500 people across the country.

Due to the ongoing takeover bid, bosses at Alstom today said they could not comment on the boost in sales.

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(c) 2014 The Jerusalem Post Provided by SyndiGate Media Inc. (Syndigate.info).

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