Alstom is to acquire the 50% stake in Moroccan cable business Cabliance which is held by Nexans.

An agreement has been signed for Alstom to acquire the 50% stake in Moroccan cable business Cabliance which is held by its joint venture partner Nexans. Cabliance was established in 2011 and produces cable bundles for rail applications and electrical switchboxes, Alstom-designed subassemblies and Nexans industrialisation and production equipment. It currently employs 250 people and generated a turnover of €13·7m in 2015. The deal will take effect once Nexans completes skills transfer to its Moroccan partners.

Knorr-Bremse has rebranded two companies it acquired in February, with PCS Power Converter Solutions becoming Knorr-Bremse PowerTech GmbH, Berlin, and Transtechnik now called Knorr-Bremse PowerTech GmbH & Co KG, Holzkirchen. Operating under the Knorr-Bremse PowerTech brand, the companies offer onboard power supply equipment and battery chargers as well as electrical supply systems for industrial applications including railway test rigs.

The Canadian Province of Ontario’s Jobs & Prosperity Fund is to provide up to C$12m to support Thales’ Toronto-based urban rail signalling centre in a C$80m project to develop CBTC technology for metro, light rail and commuter rail applications. Thales expects the project to create 126 jobs in the province and retain another 963 over five years.

UK infrastructure manager Network Rail has awarded BNP Paribas Real Estate a three-year contract to provide estates management, professional and transactional services across its portfolio of around 140 office properties.