Tuesday, May 22, 2012

Alstom absorbs DB share of joint venture

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Alstom said Tuesday it and DB Mobility Network Logistics AG have signed a contract for the takeover of the 49% stake held by DB Mobility Network Logistics AG in the "Alstom Lokomotiven Service GmbH" joint venture in Stendal, Germany.

Alstom Deutschland GmbH, who was holding a 51% stake since the creation of the joint venture in 2002, now becomes the sole shareholder.

Based in Stendal, Alstom Lokomotiven Service GmbH's employs more than 200 people. In close cooperation with the Braunschweig site, the Stendal site works on locomotive renovation and shunting locomotives, trams, regional trains, bogies and other maintenance components from all manufacturers. In the last 11 years, it has supplied more than 300 locomotives of V100 class to private operators.

Klaus Hiller, head of the Train Life Services Department within Alstom Transport Germany, said, "The business model of the Stendal site has proven itself to our customers. I am sure that in the coming decades we will see this historic site, founded in 1873, as a strong, flexible partner with advanced business ideas in this exciting market."

Alstom aims to develop in Stendal new environmentally friendly three-axle shunting locomotives with four different types of engines, including hybrid technology.