Alstom buys DB stake in locomotive joint venture
GERMANY: On May 22 Alstom announced it had signed a contract to take over the 49% stake in the Alstom Lokomotiven Service joint venture which is held by DB Mobility Logistics, giving it full control.
The joint venture was formed in 2002 and is based at Stendal. It now has more than 200 employees, undertaking locomotive and rolling stock modernisation and maintenance work and component refurbishment. Over the past five years it has developed a three-axle industrial shunting locomotive concept offering four models of engine, including diesel-battery hybrid technology.
'The business model of the Stendal site has proven itself to our customers', said Klaus Hiller, head of Alstom Transport Germany's Train Life Services Department. '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.'