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March 10, 2022updated 23 Mar 2022 1:22pm

Alstom halts Russia deliveries and future investments

Alstom has also paused partnership talks with Ukrainian rail operator UZ.

Understand the impact of the Ukraine conflict from a cross-sector perspective with the Global Data Executive Briefing: Ukraine Conflict

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Alstom has put a hold on all future business investments and deliveries in Russia, in keeping with sanctions imposed on the country for its attack on Ukraine.

The French rolling stocking manufacturer has a 20% interest in Russian locomotives and rail equipment manufacturer Transmashholding (TMH), which focuses on the local market.

Alstom stated that it has no material business or operational link with TMH, adding that it would reevaluate the book value of its TMH holding in the closing accounts of FY 2021/22.

The company also committed to abiding by all applicable laws and sanctions.

In a statement, it said: “Alstom is closely monitoring the dramatic situation currently happening in Ukraine. The safety of our employees and their families is, as always, our first priority. 

“A dedicated team has been set up to manage the situation since the beginning of the conflict, taking actions to best support them.”

Besides, Alstom suspended partnership talks with Ukrainian rail operator UZ as a result of the conflict.

The French train maker has now decided to stop the supply of locomotives and related services to UZ.

“Alstom has expressed its deep solidarity with UZ during this dramatic time,” said the company.

Separately, Alstom secured a €124m framework contract to design and deploy the European Rail Transport Management System (ERTMS) in four regions of Italy.

The contract, awarded by Rete Ferroviaria Italiana (FS Italiane Group), will serve Sicily, Lazio, Abruzzo and Umbria.

Related Companies

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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