Alstom CEO Patrick Kron says GE deal will save jobs
Alstom’s chief executive says the French heavy engineering firm’s agreement to sell off most of its power generation business to US rival General Electric Co. will save jobs and protect France’s national interests. The $17 billion deal was agreed over the weekend after weeks of international negotiations that reached the highest levels of French politics. The government was worried that the GE takeover would cause layoffs and hand foreign owners too much influence over a major industrial player _ especially one like Alstom, which makes power plant equipment and pioneered TGV high-speed trains.
Alstom’s chief executive says the French heavy engineering firm’s agreement to sell off most of its power generation business to US rival General Electric Co. will save jobs and protect France’s national interests. The $17 billion deal was agreed over the weekend after weeks of international negotiations that reached the highest levels of French politics. The government was worried that the GE takeover would cause layoffs and hand foreign owners too much influence over a major industrial player _ especially one like Alstom, which makes power plant equipment and pioneered TGV high-speed trains.
Read the Economic Times news report here.
