Joint venture CFF Cargo SA and Alstom Transport
On 20 February 2007, Alstom Transport and CFF Cargo, a subsidiary of the Swiss federal railways operator CFF, signed an agreement for the creation of a joint venture on CFF Cargo’s industrial site at Bienne, Switzerland.
The new company will handle maintenance activities relating to the shunting engines and tank wagons operated by CFF and CFF Cargo, as well as by private freight companies. These activities should generate sales of 37 million Swiss francs (€22.9 million) in 2007.
Alstom Transport and CFF Cargo will hold a 51% and 49% stake respectively in the joint venture’s equity. Employees at the site involved in the maintenance activities in question will be integrated into the new structure.
This alliance allows for the bringing together of the expertise of CFF Cargo and Alstom Transport in maintenance. Through the deal, Alstom Transport will gain an experienced workforce and be able to significantly develop its activities in Switzerland.
The joint venture also represents a further stage in the development of Alstom Transport’s policy of building a network of maintenance centres across Europe. With this new operation, 9 sites will now provide coverage of the North-South corridor, which stretches from the Netherlands to Italy. The network will enable the company to respond to growing demand from public and private operators for service and global maintenance solutions.
About Alstom Transport
Alstom Transport is world leader in very high-speed trains and holds the No. 2 market position in urban rail transport. The company has an 18% share of the full accessible rail transport equipment and service market. With an annual turnover of 5.1 billion euros generating an operating margin of 6.3%, Alstom Transport has established itself as the most profitable integrated solutions provider in the industry. Its range of offerings includes rolling stock products, rail infrastructure equipment, signaling systems and maintenance services. Alstom Transport employs 26 000 men and women serving customers in over 60 countries.