Alstom Takes Over Fiat Ferroviaria

International Railway Journal, July, 2000

ALSTOM has taken over Fiat Ferroviaria in a deal that values the Italian railway equipment supplier and tilting train specialist at Euros 300 million ($US 267.8 million). Alstom has taken a 51% share, which will enable it to strengthen its position in the Italian and Swiss markets and take advantage of the growing market for tilting trains.

Mr Michel Moreau, president of Alstom Transport, commented: "This acquisition... will enable Alstom to benefit from Fiat Ferroviaria's excellent reputation on the Italian market and abroad, to complete its product range and know-how, and to reinforce its position as the world's leading supplier to the rail industry."

The two companies had previously formed a 50:50 joint venture to supply and maintain a fleet of high-speed tilting trains to be operated by Virgin Trains on Britain's West Coast Main Line. Fiat Ferroviaria has also sold its tilting trains in eight countries.