Alstom
and Australia’s
United Grouptoday signed an agreement for the sale of Alstom’s transport operations in Australia and New Zealand.
Alstom will receive a base purchase price of approximately €165 million and could receive an additional €18 million based on future financial performance.
Alstom’s transport operations in Australia and New Zealand include engineering and maintenance support, road and rail infrastructure projects, and the provision of professional services and systems to the transport industry throughout Australia and New Zealand
The business employs approximately 2,000 staff and operates from both countries. Key customers include major road and rail operators and Australian construction companies.
The agreement, which is subject to a limited number of conditions, is expected to close in July 2005.
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A majority of rail networks are state owned. They don't need to make a profit from their poor passengers.