Alstom acquires Balfour Beatty stake in Signalling Solutions Ltd
SSL: Alstom announced its acquisition of Balfour Beatty’s 50% stake in the Signalling Solutions Ltd joint venture on May 28, giving it sole ownership. The price was not disclosed. Alstom said the business would ‘continue to trade as SSL for the foreseeable future.’
The 50:50 joint venture was established by the two companies in 2007 to supply signalling systems in the UK and Ireland. SSL is now one of the major UK signalling suppliers, with 540 staff based at four main locations offering a range of services from project design to full delivery.
‘This acquisition is part of Alstom’s signalling growth strategy and enables the company to take full benefit from its worldwide resources and capabilities’, said Pascal Cléré, Senior Vice-President of Alstom Transport’s signalling business. ‘SSL enriches Alstom’s portfolio, both from a geographical and product standpoint.’
Balfour Beatty said that the sale of its stake in SSL was ‘further evidence of the progress we are making as we deliver our Build to Last programme, both in simplifying the group and maintaining a strong balance sheet through self-help. Exiting SSL will allow our rail business to focus fully on its core expert strengths.’